Apple Inc. $AAPL Stock Holdings Reduced by SWP Financial LLC

Key Points

• SWP Financial LLC cut its Apple stake by 8.6% in the first quarter, selling 3,348 shares and leaving it with 35,509 shares worth about $9.0 million.
• Apple reported better-than-expected quarterly results, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion, up 16.6% from a year earlier.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly constructive with a consensus rating of Moderate Buy and a $314.85 price target.

SWP Financial LLC reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,509 shares of the iPhone maker's stock after selling 3,348 shares during the quarter. Apple makes up about 4.6% of SWP Financial LLC's holdings, making the stock its 5th largest position. SWP Financial LLC's holdings in Apple were worth $9,012,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AAPL. Overbrook Management Corp boosted its stake in Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after purchasing an additional 38,174 shares during the period. Torren Management LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $1,178,000. Adventist Health System Sunbelt Healthcare Corp purchased a new position in Apple during the fourth quarter valued at approximately $105,482,000. KBC Group NV grew its stake in Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock valued at $1,915,172,000 after acquiring an additional 214,215 shares in the last quarter. Finally, Professional Advisory Services Inc. increased its holdings in Apple by 29.6% during the 4th quarter. Professional Advisory Services Inc. now owns 94,277 shares of the iPhone maker's stock worth $25,630,000 after acquiring an additional 21,508 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $284.29 on Friday. The firm has a market cap of $4.18 trillion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.47 and a beta of 1.09. Apple Inc. has a 12-month low of $199.26 and a 12-month high of $317.40. The company has a 50-day simple moving average of $292.51 and a two-hundred day simple moving average of $273.20. 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 released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is presently 13.06%.

Insider Buying and Selling

In related news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 30,002 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $34,934,433.50. This represents 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. In the last three months, insiders sold 97,875 shares of company stock valued at $24,998,541. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AAPL. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a report on Tuesday, June 9th. UBS Group reiterated a "buy" rating on shares of Apple in a research report on Tuesday, June 9th. Stifel Nicolaus set a $330.00 price objective on Apple in a research note on Monday, March 2nd. Wedbush restated an "outperform" rating and issued a $400.00 target price on shares of Apple in a research note on Friday, June 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $314.85.

Key Apple News

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

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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