Apple Inc. $AAPL Shares Sold by Mill Creek Capital Advisors LLC

Key Points

• Mill Creek Capital Advisors trimmed its Apple stake by 5.1% in the fourth quarter, selling 7,998 shares and leaving it with 149,129 shares valued at about $40.5 million.
• Apple reported 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.
• Wall Street remains constructive on AAPL, with a consensus “Moderate Buy” rating and an average price target of $314.59, while some analysts recently raised their targets and ratings.

Mill Creek Capital Advisors LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,129 shares of the iPhone maker's stock after selling 7,998 shares during the period. Apple makes up 0.8% of Mill Creek Capital Advisors LLC's holdings, making the stock its 18th largest position. Mill Creek Capital Advisors LLC's holdings in Apple were worth $40,542,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Reyes Financial Architecture Inc. increased its holdings in shares of Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after purchasing an additional 37 shares during the period. WESPAC Advisors LLC increased its holdings in shares of Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock valued at $3,351,000 after purchasing an additional 39 shares during the period. Interactive Financial Advisors Inc. increased its holdings in shares of Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock valued at $286,000 after purchasing an additional 40 shares during the period. Orion Investment Co increased its holdings in shares of Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after purchasing an additional 41 shares during the period. Finally, Seven Springs Wealth Group LLC increased its holdings in shares of Apple by 0.3% in the third quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker's stock valued at $3,934,000 after purchasing an additional 42 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 1.8%

Apple stock opened at $296.42 on Tuesday. The firm has a market cap of $4.35 trillion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 2.53 and a beta of 1.09. Apple Inc. has a 52 week low of $195.07 and a 52 week high of $317.40. The business's 50-day moving average price is $286.45 and its 200 day moving average price is $272.38. 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 (NASDAQ:AAPL - Get Free Report) last posted 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. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the company earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

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

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O'brien sold 30,002 shares of the firm'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 completion of the sale, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% 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. Insiders sold 97,759 shares of company stock valued at $24,964,305 in the last three months. 0.06% of the stock is currently owned by insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush said Apple’s WWDC AI rollout could be the “first step” toward adding as much as $100 to the stock, as investors focus on the company’s AI execution and the potential for a stronger Siri/Apple Intelligence roadmap. Article Title
• Positive Sentiment: Multiple reports on iOS 27 and Apple Intelligence suggest Apple is making progress on features that could improve older iPhones, expand software value, and strengthen the case for users to upgrade into the next product cycle. Article Title
• Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/overweight views and price targets clustered well above current levels, reinforcing a bullish long-term sentiment on AAPL. Article Title
• Neutral Sentiment: Several articles highlight Apple’s strong recent operating performance, including record iPhone demand and services revenue, but these are largely a rehash of prior earnings strength rather than a fresh catalyst. Article Title
• Negative Sentiment: A Yahoo Finance report says rising memory chip costs could pressure Apple’s hardware margins as AI features require more device memory, creating a potential headwind for profitability over the next few quarters. Article Title
• Negative Sentiment: Broader sentiment is also being dampened by articles noting that the Magnificent Seven, including Apple, have been weak in June and have lagged the broader market at times, which can weigh on near-term momentum. Article Title

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. Stifel Nicolaus set a $330.00 price objective on Apple in a report on Monday, March 2nd. Wells Fargo & Company reissued an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. BNP Paribas Exane raised Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a report on Friday, April 17th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $314.59.

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.

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