Apple Inc. $AAPL Shares Sold by waypoint wealth counsel

Key Points

• Waypoint Wealth Counsel reduced its Apple stake by 34.7% in the first quarter, selling 12,272 shares and leaving it with 23,050 shares valued at about $5.85 million. Apple still accounted for roughly 3% of the firm’s portfolio.
• Apple’s biggest current catalyst is a new Broadcom chip agreement, which investors view as a boost to supply chain resilience and U.S.-based manufacturing. Wall Street sees the deal as supportive of Apple’s long-term chip and AI strategy.
• The company also faces ongoing regulatory pressure in Europe after losing its challenge to the EU’s Digital Markets Act, even as analysts say recent price increases are unlikely to hurt demand. Apple remains on track to report earnings later this month.

waypoint wealth counsel lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 34.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,050 shares of the iPhone maker's stock after selling 12,272 shares during the quarter. Apple comprises about 3.0% of waypoint wealth counsel's investment portfolio, making the stock its 8th largest holding. waypoint wealth counsel's holdings in Apple were worth $5,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Reyes Financial Architecture Inc. boosted its stake in Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock worth $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC raised its holdings in Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after purchasing an additional 39 shares during the period. Interactive Financial Advisors Inc. boosted its position in shares of Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock worth $286,000 after purchasing an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC boosted its position in shares of Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock worth $515,000 after purchasing an additional 40 shares in the last quarter. Finally, Orion Investment Co grew its holdings in shares of Apple by 0.3% in the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after buying an additional 41 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: The Broadcom agreement should improve Apple’s supply chain resiliency, reduce reliance on overseas suppliers, and strengthen its domestic manufacturing story. Apple to increase spend with Broadcom to produce billions more U.S. chips
• Positive Sentiment: Wall Street is also taking the deal as a sign that Apple is investing aggressively in its long-term chip and AI infrastructure, which could support future product launches and margin stability. Apple Announces Broadcom Chip Deal Worth More Than $30 Billion
• Neutral Sentiment: Apple also lost an EU court challenge to the bloc’s Digital Markets Act, leaving its App Store and iOS under tougher antitrust obligations in Europe, but investors appear to be focusing more on the chip deal today. EU court rejects Apple's challenge against EU rules reining in Big Tech
• Neutral Sentiment: Separately, JPMorgan said recent hardware price increases are unlikely to hurt demand, reinforcing the view that Apple’s pricing power remains intact heading into earnings later this month. Apple price hikes unlikely to hurt demand, JPMorgan says as it raises PT

Apple Stock Performance

AAPL opened at $313.39 on Thursday. The company has a market capitalization of $4.60 trillion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 2.70 and a beta of 1.10. The business's 50-day moving average price is $297.74 and its two-hundred day moving average price is $274.68. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analysts' expectations 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 in the prior year, the firm earned $1.65 earnings per share. Equities analysts expect 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 was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This is an increase from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's payout ratio is currently 13.06%.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 13,366 shares of the company's stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,924 shares of company stock valued at $825,546. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. Barclays reaffirmed an "underweight" rating on shares of Apple in a research note on Tuesday, June 9th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a report on Friday, June 26th. Monness Crespi & Hardt boosted their price objective on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a research note 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.85.

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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