Apple Inc. $AAPL Position Raised by CM Wealth Advisors LLC

Key Points

• CM Wealth Advisors LLC increased its Apple stake by 36.7% in the fourth quarter, buying 10,865 additional shares to bring its total to 40,487 shares valued at about $11.0 million.
• Apple reported strong quarterly results, with earnings of $2.01 per share beating estimates and revenue of $111.18 billion topping expectations, while revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share, and analysts remain broadly positive, with an average price target of $305.74 and a “Moderate Buy” rating.

CM Wealth Advisors LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 36.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,487 shares of the iPhone maker's stock after purchasing an additional 10,865 shares during the period. Apple accounts for 2.5% of CM Wealth Advisors LLC's investment portfolio, making the stock its 10th largest holding. CM Wealth Advisors LLC's holdings in Apple were worth $11,007,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AAPL. Norges Bank purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $38,942,255,000. Nuveen LLC purchased a new position in shares of Apple in the 1st quarter valued at $17,472,482,000. Laurel Wealth Advisors LLC grew its position in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after buying an additional 26,937,401 shares during the last quarter. Northern Trust Corp grew its position in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after buying an additional 13,137,968 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 0.0%

Shares of NASDAQ AAPL opened at $293.25 on Monday. 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 52 week low of $193.46 and a 52 week high of $294.76. The firm has a 50-day moving average price of $261.85 and a 200 day moving average price of $266.04. The stock has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06.

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

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date is Monday, May 11th. Apple's payout ratio is presently 12.58%.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated 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 sale, 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 filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares of the company's stock, 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 sold a total of 96,485 shares of company stock worth $24,594,845 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays reaffirmed an "underweight" rating and issued a $253.00 target price (up from $248.00) on shares of Apple in a research report on Friday, May 1st. Maxim Group raised shares of Apple from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Friday, January 30th. UBS Group set a $296.00 target price on shares of Apple and gave the company a "neutral" rating in a research report on Friday, May 1st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $270.00 target price on shares of Apple in a research report on Friday, May 1st. One equities 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $305.74.

About Apple

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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