Able Wealth Management LLC Sells 12,832 Shares of Apple Inc. $AAPL

Key Points

• Able Wealth Management LLC sharply reduced its Apple stake in the fourth quarter, selling 12,832 shares and cutting its holdings by 91.5% to 1,187 shares worth about $323,000.
• Apple’s latest results and capital returns were strong, with quarterly EPS of $2.01 beating estimates and revenue rising 16.6% year over year to $111.18 billion. The company also raised its quarterly dividend to $0.27 from $0.26.
• Analysts remain constructive on Apple, with several raising price targets and MarketBeat’s average rating at “Moderate Buy” with a consensus target price of $308.74, while the stock recently traded near its 52-week high at $300.23.

Able Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 91.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,187 shares of the iPhone maker's stock after selling 12,832 shares during the period. Able Wealth Management LLC's holdings in Apple were worth $323,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AAPL. Isthmus Partners LLC raised its stake in Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock worth $25,000 after buying an additional 5,808 shares during the period. Sellwood Investment Partners LLC raised its stake in Apple by 110.9% during the 3rd 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 stake in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the period. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth $65,000. Finally, 49 Wealth Management LLC raised its stake in Apple by 15.7% during the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock worth $76,000 after buying an additional 40,543 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 0.7%

Apple stock opened at $300.23 on Friday. Apple Inc. has a 52 week low of $193.46 and a 52 week high of $303.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $4.41 trillion, a P/E ratio of 36.30, a PEG ratio of 2.61 and a beta of 1.06. The stock has a 50-day simple moving average of $265.37 and a 200 day simple moving average of $267.48.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter last year, the company posted $1.65 earnings per share. Apple's quarterly revenue was up 16.6% on a year-over-year basis. Analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is presently 13.06%.

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 in the last three months. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Tigress Financial reissued a "strong-buy" rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a research note on Thursday. Monness Crespi & Hardt lifted their price target on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Oppenheimer reissued a "market perform" rating on shares of Apple in a research note on Friday, January 30th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Friday, May 1st. Finally, TD Cowen reissued a "buy" rating and issued a $335.00 price target (up from $325.00) on shares of Apple in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $308.74.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
• Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
• Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
• Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
• Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
• Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic's Mythos Helped Find Bugs in Apple's Desktop Operating System

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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