Apple Inc. $AAPL Shares Sold by Alta Capital Management LLC

Key Points

• Alta Capital Management LLC cut its Apple stake by 27.9% in the fourth quarter, selling 92,950 shares and leaving it with 239,833 shares worth about $65.2 million. Apple remained Alta’s 6th-largest holding and made up 4.3% of its portfolio.
• Apple posted strong quarterly results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping forecasts. Revenue rose 16.6% year over year, and the company also lifted its quarterly dividend to $0.27 per share.
• Despite the recent share price dip to $307.34, Wall Street remains bullish on Apple, with multiple firms raising targets and the consensus rating sitting at “Moderate Buy.” Analyst optimism appears tied to Apple’s AI roadmap and resilient iPhone fundamentals.

Alta Capital Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 239,833 shares of the iPhone maker's stock after selling 92,950 shares during the period. Apple accounts for approximately 4.3% of Alta Capital Management LLC's investment portfolio, making the stock its 6th biggest holding. Alta Capital Management LLC's holdings in Apple were worth $65,201,000 at the end of the most recent quarter.

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

Apple Stock Down 1.2%

Apple stock opened at $307.34 on Friday. The firm has a 50 day simple moving average of $281.39 and a 200 day simple moving average of $271.37. 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 Inc. has a 1-year low of $195.07 and a 1-year high of $316.94. The firm has a market capitalization of $4.51 trillion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 2.71 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) 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 company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AAPL shares. Wells Fargo & Company reissued an "overweight" rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Bank of America reissued a "buy" rating and set a $380.00 price objective (up from $330.00) on shares of Apple in a research report on Tuesday, May 26th. Wedbush reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Apple in a research report on Friday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research report on Wednesday, March 4th. Finally, Tigress Financial reaffirmed a "strong-buy" rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $312.82.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s WWDC keynote is expected to highlight a revamped Siri, Apple Intelligence updates, and a broader AI strategy, which could act as a near-term catalyst if the company shows meaningful progress. Will WWDC Drive Apple Stock (AAPL) Higher? Here’s What Analysts Expect
• Positive Sentiment: Analysts remain constructive, with Citi reiterating a Buy and Wedbush reaffirming Outperform with a $400 target, citing Apple’s AI inflection point and resilient iPhone fundamentals. Asiya Merchant Reiterates Buy on Apple, Citing AI Strategy Inflection and Resilient iPhone Fundamentals
• Positive Sentiment: Apple’s App Store update showed $1.4 trillion in sales and billings last year, reinforcing the scale of its Services ecosystem even as most transactions did not carry a commission. Apple touts $1.4 trillion in App Store billings and sales, 90% without a commission
• Positive Sentiment: Foxconn raised its second-quarter outlook, a constructive signal for Apple’s supply chain and iPhone demand, since Foxconn is Apple’s top iPhone assembler. Taiwan's Foxconn raises guidance for second-quarter outlook
• Neutral Sentiment: Reports that Apple may rely on Google cloud infrastructure and Nvidia chips to power a redesigned Siri suggest the company is prioritizing speed to market, but they also underscore that Apple is leaning on outside partners for its AI push. Apple Taps Google to Prep Siri For September Revamp
• Negative Sentiment: Some coverage warns that Apple still faces a high bar to justify its valuation, and UBS noted decelerating App Store growth could pressure the Services growth story if AI execution disappoints. Investors Should Worry About Apple’s (AAPL) Decelerating App Store Growth, Says UBS

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of the company's stock in a transaction dated 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 in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. This represents 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 90 days. 0.06% of the stock is 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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