Apple Inc. $AAPL Holdings Trimmed by LRI Investments LLC

Key Points

• LRI Investments LLC trimmed its Apple stake by 3.2% in the fourth quarter, selling 2,467 shares and ending with 75,037 shares worth about $20.4 million.
• Wall Street remains broadly bullish on Apple, with several analysts reiterating buy/overweight ratings and a consensus price target of $312.82, while expectations are elevated for AI-related announcements at WWDC.
• Apple posted solid recent financial results and raised its dividend, reporting $2.01 EPS on $111.18 billion in revenue and increasing its quarterly payout to $0.27 per share.

LRI Investments LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,037 shares of the iPhone maker's stock after selling 2,467 shares during the quarter. Apple accounts for approximately 1.4% of LRI Investments LLC's investment portfolio, making the stock its 14th largest position. LRI Investments LLC's holdings in Apple were worth $20,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Isthmus Partners LLC boosted its position in shares of Apple by 6.4% in the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after purchasing an additional 5,808 shares during the period. Sellwood Investment Partners LLC lifted its stake in Apple by 110.9% in the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker's stock worth $34,000 after acquiring an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC lifted its stake in 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 purchased a new stake in Apple in the 4th quarter worth about $65,000. Finally, 49 Wealth Management LLC lifted its stake in Apple by 15.7% in the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock worth $76,000 after acquiring an additional 40,543 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Multiple analysts reiterated bullish views on Apple ahead of WWDC, including Goldman Sachs keeping a Buy rating with a $340 target and Evercore ISI lifting its target to $365, citing Apple’s AI roadmap, ecosystem strength, and services growth. Article Title
• Positive Sentiment: Investor expectations remain high that Apple will unveil major AI updates at WWDC, especially a rebuilt Siri and deeper Apple Intelligence features, which could extend the stock’s recent rally. Article Title
• Positive Sentiment: Reports suggest Apple may expand its ecosystem with a native bill-splitting/payment feature in iOS, which could deepen user engagement and strengthen its services revenue stream. Article Title
• Positive Sentiment: Commentary around Apple’s stock has been upbeat, with articles highlighting outperformance versus the S&P 500 and strong demand for iPhones and Macs ahead of the conference. Article Title
• Neutral Sentiment: UBS said not to expect fireworks from WWDC and kept a Neutral rating, suggesting the event may not deliver a near-term stock catalyst if announcements disappoint. Article Title
• Neutral Sentiment: Apple’s recent gains and all-time high have also prompted valuation concerns, with some analysts and commentators warning the shares may already price in a lot of good news. Article Title
• Negative Sentiment: Reuters reported that Apple agreed to submit India business financials in an antitrust case, keeping regulatory risk in focus and raising the possibility of penalties. Article Title
• Negative Sentiment: Competitive headlines from Nvidia, Walmart, and others show mounting pressure on parts of Apple’s ecosystem, including PCs and payments, which could weigh on sentiment if rivals gain traction. Article Title

Analyst Upgrades and Downgrades

AAPL has been the subject of several research analyst reports. Bank of America reissued a "buy" rating and issued a $380.00 price objective (up from $330.00) on shares of Apple in a research note on Tuesday, May 26th. Citigroup reissued a "buy" rating on shares of Apple in a research note on Monday. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research note on Monday. Wells Fargo & Company reissued an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Finally, KeyCorp reissued a "sector weight" rating on shares of Apple in a research note on Thursday, March 12th. One 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 stock. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $312.82.

Apple Stock Down 1.6%

Shares of AAPL stock opened at $310.26 on Thursday. The stock's 50 day simple moving average is $279.10 and its 200 day simple moving average is $270.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a twelve month low of $195.07 and a twelve month high of $316.94. The company has a market capitalization of $4.56 trillion, a price-to-earnings ratio of 37.52, a PEG ratio of 2.74 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period last year, the business earned $1.65 EPS. The firm's revenue was up 16.6% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is 13.06%.

Insider Buying and Selling

In related news, 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 value of $7,661,010.70. Following the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the firm'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 value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 97,759 shares of company stock valued at $24,964,305 over the last 90 days. 0.06% of the stock is currently owned by insiders.

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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