Apple Inc. $AAPL Stock Position Reduced by BIP Wealth LLC

Key Points

• BIP Wealth LLC trimmed its Apple stake by 11.7% in the first quarter, selling 12,586 shares and leaving it with 94,634 shares valued at about $24.0 million.
• Apple’s latest quarterly results topped expectations, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion, up 16.6% year over year.
• The stock has been near record highs, opening at $327.50 with a 52-week high of $328.73, while analysts still hold a consensus “Moderate Buy” rating and a $314.26 price target.

BIP Wealth LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,634 shares of the iPhone maker's stock after selling 12,586 shares during the quarter. Apple makes up about 1.0% of BIP Wealth LLC's holdings, making the stock its 17th biggest position. BIP Wealth LLC's holdings in Apple were worth $24,017,000 as of its most recent filing with the Securities & Exchange Commission.

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

Apple Stock Up 4.0%

Apple stock opened at $327.50 on Thursday. 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 Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $328.73. The firm has a fifty day moving average price of $301.89 and a two-hundred day moving average price of $276.27. The firm has a market cap of $4.81 trillion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 2.74 and a beta of 1.10.

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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $109.46 billion. During the same period last year, the business posted $1.65 earnings per share. The firm's revenue was up 16.6% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China's cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction 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 transaction, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,924 shares of company stock valued at $825,546 over the last three months. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AAPL. KeyCorp downgraded shares of Apple from a "sector weight" rating to an "underweight" rating and set a $250.00 target price for the company. in a research report on Tuesday. DA Davidson reissued a "neutral" rating and set a $270.00 target price on shares of Apple in a research report on Friday, May 1st. Morgan Stanley restated an "overweight" rating on shares of Apple in a report on Friday, June 26th. TD Cowen upped their price target on Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Finally, KGI Securities lowered Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective on the stock. in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.26.

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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