Apple Inc. $AAPL Stock Position Cut by Antonelli Financial Advisors LLC

Key Points

• Antonelli Financial Advisors LLC reduced its Apple stake by 6.5% in the fourth quarter, selling 4,060 shares and leaving it with 58,726 shares worth about $15.97 million. Apple still remains one of the firm’s top holdings, making up about 10.5% of its portfolio.
• Apple reported better-than-expected fiscal Q2 results, with EPS of $2.01 and revenue of $111.18 billion, both above analyst estimates. Revenue rose 16.6% year over year, and the company continues to expect strong full-year earnings.
• The company also raised its quarterly dividend from $0.26 to $0.27 per share, while analysts remain broadly constructive with a consensus rating of “Moderate Buy” and an average price target of $308.74.

Antonelli Financial Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,726 shares of the iPhone maker's stock after selling 4,060 shares during the period. Apple comprises about 10.5% of Antonelli Financial Advisors LLC's portfolio, making the stock its 3rd biggest position. Antonelli Financial Advisors LLC's holdings in Apple were worth $15,965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Overbrook Management Corp lifted its position in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after buying an additional 38,174 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in Apple by 48.4% during the third quarter. Citizens Financial Group Inc. RI now owns 1,426,605 shares of the iPhone maker's stock valued at $363,256,000 after buying an additional 465,393 shares in the last quarter. Tufton Capital Management lifted its position in Apple by 4.3% during the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock valued at $25,496,000 after buying an additional 4,157 shares in the last quarter. KBC Group NV lifted its position 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 buying an additional 214,215 shares in the last quarter. Finally, Montis Financial LLC lifted its position in Apple by 15.8% during the third quarter. Montis Financial LLC now owns 77,919 shares of the iPhone maker's stock valued at $19,841,000 after buying an additional 10,640 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $300.23 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $265.37 and a 200 day simple moving average of $267.47. The firm has a market cap of $4.41 trillion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.61 and a beta of 1.06. Apple Inc. has a 12-month low of $193.46 and a 12-month high of $303.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ben Borders sold 1,274 shares of the business's stock in a transaction 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 sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,759 shares of company stock worth $24,964,305 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
• Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
• Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
• Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
• Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
• Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic's Mythos Helped Find Bugs in Apple's Desktop Operating System

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAPL. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, May 1st. Stephens set a $315.00 price target on shares of Apple in a research report on Monday, January 26th. Jefferies Financial Group set a $330.00 price target on shares of Apple in a research report on Wednesday, March 4th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Tuesday, April 21st. Finally, DA Davidson reiterated a "neutral" rating and set a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. One 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 issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $308.74.

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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