Apple Inc. $AAPL Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group boosted its Apple stake by 1.9% in the fourth quarter, buying about 26.9 million additional shares. The firm now owns 1.43 billion shares, making Apple its second-largest holding and about 9.7% of Apple’s stock.
• Apple reported better-than-expected quarterly results, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion above estimates. Revenue rose 16.6% year over year, and analysts expect full-year EPS of 8.74.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain generally constructive with a consensus rating of “Moderate Buy” and a target price near $308.74. However, some insiders have sold shares recently, and Apple faces ongoing legal pressure from its Epic Games dispute.

Vanguard Group Inc. increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,426,283,914 shares of the iPhone maker's stock after buying an additional 26,856,752 shares during the period. Apple comprises approximately 5.6% of Vanguard Group Inc.'s holdings, making the stock its 2nd biggest position. Vanguard Group Inc. owned 9.70% of Apple worth $387,749,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. First National Bank of Hutchinson lifted its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC lifted its position in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC lifted its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

AAPL stock opened at $308.82 on Monday. Apple Inc. has a 52 week low of $193.46 and a 52 week high of $311.40. The company has a market capitalization 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. The firm's 50-day moving average is $269.64 and its two-hundred day moving average is $268.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the previous year, the firm earned $1.65 EPS. Apple's revenue was up 16.6% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued 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 was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is presently 13.06%.

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

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 30,002 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 business's stock in a transaction that occurred on Thursday, April 23rd. The stock was 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 97,759 shares of company stock valued at $24,964,305 over the last quarter. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AAPL shares. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Tuesday, April 21st. Wells Fargo & Company reiterated an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, May 1st. Stephens set a $315.00 price objective on shares of Apple in a research report on Monday, January 26th. Finally, Robert W. Baird set a $310.00 price objective on shares of Apple in a research report on Friday, May 1st. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $308.74.

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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