Apple Inc. $AAPL Stock Holdings Cut by Clifford Swan Investment Counsel LLC

Key Points

• Clifford Swan Investment Counsel reduced its Apple stake by 3.0% in the first quarter, selling 20,034 shares and retaining 657,717 shares valued at approximately $166.9 million. Apple remains the firm’s largest holding, representing about 5.7% of its portfolio.
• Other institutional investors generally increased their Apple positions, and institutions collectively own 67.73% of the company’s stock.
• Apple reported record quarterly revenue of $109.4 billion, up 16.4% year over year, and EPS of $2.02, beating estimates. Analysts maintain a consensus “Moderate Buy” rating with a $331.60 price target, while Apple declared a quarterly dividend of $0.27 per share.

Clifford Swan Investment Counsel LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 657,717 shares of the iPhone maker's stock after selling 20,034 shares during the quarter. Apple makes up approximately 5.7% of Clifford Swan Investment Counsel LLC's holdings, making the stock its biggest position. Clifford Swan Investment Counsel LLC's holdings in Apple were worth $166,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AAPL. MTM Investment Management LLC boosted its holdings in shares of Apple by 2.1% in the first quarter. MTM Investment Management LLC now owns 46,026 shares of the iPhone maker's stock worth $11,681,000 after buying an additional 950 shares during the last quarter. Heartland Bank & Trust Co grew its position in Apple by 18.9% during the first quarter. Heartland Bank & Trust Co now owns 79,289 shares of the iPhone maker's stock valued at $20,123,000 after buying an additional 12,583 shares during the period. Zhang Financial LLC increased its holdings in Apple by 4.3% during the first quarter. Zhang Financial LLC now owns 226,060 shares of the iPhone maker's stock valued at $57,372,000 after buying an additional 9,352 shares during the last quarter. Frontier Asset Management LLC increased its holdings in Apple by 10.7% during the first quarter. Frontier Asset Management LLC now owns 1,533 shares of the iPhone maker's stock valued at $389,000 after buying an additional 148 shares during the last quarter. Finally, FSA Advisors Inc. raised its position in Apple by 550.0% in the first quarter. FSA Advisors Inc. now owns 11,109 shares of the iPhone maker's stock worth $2,819,000 after acquiring an additional 9,400 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Barclays reiterated an "underweight" rating and set a $245.00 price target (down from $253.00) on shares of Apple in a research note on Friday. Robert W. Baird raised their target price on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Wells Fargo & Company reiterated an "overweight" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research report on Friday. Tigress Financial reissued a "strong-buy" rating and set a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $360.00 price target (down from $370.00) on shares of Apple in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $331.60.

Insider Buying and Selling

In other news, insider Ben Borders sold 116 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $308.91 on Monday. The firm has a fifty day moving average price of $309.51 and a 200-day moving average price of $281.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market cap of $4.54 trillion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $344.57.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the firm earned $1.57 EPS. The company's revenue was up 16.4% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 8.8 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio (DPR) is currently 12.39%.

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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