Apple Inc. $AAPL Shares Sold by Main Street Group LTD

Key Points

• Main Street Group LTD reduced its Apple stake by 16.8% in the fourth quarter, selling 2,903 shares and leaving it with 14,409 shares worth about $3.92 million.
• Apple reported strong quarterly results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping expectations; revenue rose 16.6% year over year.
• Apple also raised its quarterly dividend to $0.27 per share from $0.26, while analysts currently rate the stock a Moderate Buy with an average price target of $305.74.

Main Street Group LTD decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,409 shares of the iPhone maker's stock after selling 2,903 shares during the quarter. Apple comprises 1.4% of Main Street Group LTD's holdings, making the stock its 11th largest holding. Main Street Group LTD's holdings in Apple were worth $3,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Isthmus Partners LLC grew its stake in shares of Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after buying an additional 5,808 shares in the last quarter. Sellwood Investment Partners LLC grew its stake in shares of Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker's stock valued at $34,000 after buying an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at $65,000. Finally, 49 Wealth Management LLC grew its stake in shares of Apple by 15.7% in the third quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock valued at $76,000 after buying an additional 40,543 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $325.00 price objective on Apple in a research note on Monday, February 2nd. DA Davidson reaffirmed a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. Barclays reaffirmed an "underweight" rating and issued a $253.00 price objective (up from $248.00) on shares of Apple in a research note on Friday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, May 1st. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned 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 an average price target of $305.74.

Apple Trading Up 0.7%

AAPL opened at $294.80 on Wednesday. Apple Inc. has a 12 month low of $193.46 and a 12 month high of $295.27. The stock has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business has a fifty day moving average price of $263.24 and a 200 day moving average price of $266.73.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same period in the previous year, the firm posted $1.65 EPS. Apple's revenue for the quarter was up 16.6% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is presently 13.06%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s upcoming WWDC is seen as a major catalyst that could reset investor expectations around its AI roadmap and support another leg higher if management delivers a stronger vision for Siri, iOS, and future devices. The Event That Could Redefine Apple’s Summer Rally
• Positive Sentiment: Apple is also being viewed more favorably after reports highlighted strong supply-chain execution, continued AI-services potential, and a growing case for the stock as a momentum name. Apple (AAPL) Gains Wall Street Confidence on Supply Chain Strength and AI Services Potential
• Positive Sentiment: Apple and Google are rolling out end-to-end encrypted RCS messaging between iPhone and Android users, which should improve the messaging experience and support the ecosystem value proposition. Apple And Google Finally Close SMS Security Gap...
• Neutral Sentiment: Reports say Apple is planning customizable camera controls and Siri design changes in iOS 27, which could help future product appeal but are still early-stage software rumors. Apple Plans Customizable Camera for Pros, Siri Design Changes in iOS 27
• Neutral Sentiment: Apple’s director and an insider both sold shares recently, which can create some caution, but the sales appear modest relative to Apple’s overall size and recent record earnings. Apple Board Veteran Sells $71 Million in Stock After Record Earnings
• Negative Sentiment: A new federal appeals-court decision temporarily keeping Trump’s 10% global tariffs in place could preserve cost pressure on imported consumer electronics, including Apple products. Appeals Court Temporarily Reinstates Trump’s 10% Global Tariffs
• Negative Sentiment: Apple’s insider Ben Borders sold 1,274 shares, a small signal that may slightly dampen sentiment, though it is not large enough on its own to change the broader bullish narrative. SEC insider filing

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 97,759 shares of company stock valued at $24,964,305. Company insiders own 0.06% of the company's stock.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.