Apple Inc. $AAPL Stake Trimmed by Campbell Newman Asset Management Inc.

Key Points

• Campbell Newman Asset Management trimmed its Apple stake by 9.9% in the first quarter, selling 33,977 shares and leaving it with 310,180 shares worth about $78.7 million. Apple remains the fund’s largest holding, making up roughly 6.4% of its portfolio.
• Apple’s latest earnings beat expectations, reporting $2.01 EPS versus $1.95 expected and revenue of $111.18 billion, up 16.6% year over year. The company also raised its quarterly dividend to $0.27 per share from $0.26.
• Sentiment on Apple is mixed: analysts remain generally bullish, with a Moderate Buy consensus and average target price of $314.85, but recent news highlights margin pressure from rising chip costs, price increases on Macs and iPads, and concerns about execution in AI and Vision Pro efforts.

Campbell Newman Asset Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 310,180 shares of the iPhone maker's stock after selling 33,977 shares during the quarter. Apple makes up about 6.4% of Campbell Newman Asset Management Inc.'s holdings, making the stock its largest position. Campbell Newman Asset Management Inc.'s holdings in Apple were worth $78,721,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AAPL. First National Bank of Hutchinson grew its holdings in Apple by 24.6% during 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 buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its holdings in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its stake in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after acquiring an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $284.29 on Friday. Apple Inc. has a 52-week low of $199.26 and a 52-week high of $317.40. The company has a fifty day moving average of $292.51 and a 200-day moving average of $273.20. The company has a market capitalization of $4.18 trillion, a P/E ratio of 34.38, a P/E/G ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the company posted $1.65 EPS. Apple's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend 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 payout ratio is currently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Monness Crespi & Hardt boosted their price target on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Monday, June 1st. Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $314.85.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the company'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 transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 3,280,418 shares of the company's stock, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 97,875 shares of company stock valued at $24,998,541. 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.

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