Apple Inc. $AAPL Holdings Lowered by Henrickson Nauta Wealth Advisors Inc.

Key Points

• Henrickson Nauta Wealth Advisors cut its Apple stake by 31.3% in Q1, selling 2,443 shares and ending with 5,362 shares valued at about $1.36 million.
• Apple reported strong quarterly results, with EPS of $2.01 and revenue of $111.18 billion, both ahead of analyst estimates; revenue also rose 16.6% from a year earlier.
• The company raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $314.85.

Henrickson Nauta Wealth Advisors Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 31.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,362 shares of the iPhone maker's stock after selling 2,443 shares during the period. Apple accounts for approximately 0.4% of Henrickson Nauta Wealth Advisors Inc.'s holdings, making the stock its 23rd biggest position. Henrickson Nauta Wealth Advisors Inc.'s holdings in Apple were worth $1,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% in the first 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. Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at about $69,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. Finally, Inspire Investing LLC acquired a new stake in Apple in the 4th quarter valued at about $76,000. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 97,875 shares of company stock worth $24,998,541. Insiders own 0.06% of the company's stock.

Apple Price Performance

AAPL opened at $275.15 on Friday. The firm has a market capitalization of $4.04 trillion, a P/E ratio of 33.27, a PEG ratio of 2.55 and a beta of 1.09. The stock has a fifty day moving average of $292.16 and a 200-day moving average of $273.12. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12-month low of $199.26 and a 12-month high of $317.40.

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

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, May 11th. This is a boost from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is 13.06%.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Evercore reaffirmed an "outperform" rating on shares of Apple in a research note on Monday, June 8th. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research note on Monday, June 8th. Monness Crespi & Hardt raised their target price on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 1st. BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target on the stock in a research report on Friday, April 17th. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.85.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts say the price hikes could help Apple protect margins by passing through rising component costs, and long-term bulls still view the company as financially strong. Article Title
• Neutral Sentiment: Apple’s AI strategy remains a work in progress, with some coverage saying the company’s AI upgrade likely will not be a major near-term catalyst for the stock. Article Title
• Negative Sentiment: Apple’s decision to raise Mac and iPad prices has sparked concern about weaker demand and “demand friction,” especially if consumers push back on higher-priced devices. Article Title
• Negative Sentiment: Broader market weakness and a tech selloff added pressure, with Apple leading the downside among major technology names. Article Title

Apple 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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