ProVise Management Group LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,679 shares of the iPhone maker’s stock after selling 2,210 shares during the period. Apple comprises 1.4% of ProVise Management Group LLC’s portfolio, making the stock its 20th biggest position. ProVise Management Group LLC’s holdings in Apple were worth $20,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sellwood Investment Partners LLC lifted its holdings in Apple by 110.9% during the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after buying an additional 71 shares during the period. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management bought a new position in shares of Apple in the 4th quarter worth $65,000. PayPay Securities Corp raised its position in shares of Apple by 52.1% in the 4th quarter. PayPay Securities Corp now owns 365 shares of the iPhone maker’s stock worth $99,000 after acquiring an additional 125 shares in the last quarter. Finally, eCIO Inc. bought a new position in shares of Apple in the 4th quarter worth $112,000. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the transaction, the chief executive officer owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,759 shares of company stock valued at $24,964,305 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Stock Up 1.3%

Shares of AAPL stock opened at $308.82 on Friday. Apple Inc. has a 1-year low of $193.46 and a 1-year high of $311.40. The stock’s fifty day moving average price is $269.64 and its 200 day moving average price is $268.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $4.54 trillion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.06.