Aventus Investment Advisors Inc. Decreases Stake in Apple Inc. $AAPL

Key Points

• Aventus Investment Advisors cut its Apple stake by 78.3% in the first quarter, leaving it with 1,008 shares worth about $256,000.
• Apple reported better-than-expected quarterly results, posting EPS of $2.01 versus the $1.95 estimate and revenue of $111.18 billion, up 16.6% year over year.
• The stock also has a broadly positive analyst outlook, with a consensus rating of Moderate Buy and an average price target of $314.85.

Aventus Investment Advisors Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 78.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,008 shares of the iPhone maker's stock after selling 3,639 shares during the quarter. Aventus Investment Advisors Inc.'s holdings in Apple were worth $256,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Overbrook Management Corp boosted its holdings in shares of Apple by 57.4% in the 4th 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 during the period. Torren Management LLC acquired a new stake in Apple during the fourth quarter worth about $1,178,000. Tufton Capital Management lifted its holdings in Apple by 4.3% in the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock worth $25,496,000 after acquiring an additional 4,157 shares during the last quarter. Adventist Health System Sunbelt Healthcare Corp acquired a new position in Apple in the fourth quarter valued at approximately $105,482,000. Finally, KBC Group NV grew its holdings in shares of 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 purchasing an additional 214,215 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. KeyCorp reaffirmed a "sector weight" rating on shares of Apple in a research report on Tuesday, June 9th. Evercore reiterated an "outperform" rating on shares of Apple in a research note on Monday, June 8th. Morgan Stanley set a $325.00 price target on shares of Apple in a research report on Tuesday, June 9th. Finally, Moffett Nathanson lifted their price objective on shares of Apple from $241.00 to $270.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $314.85.

Apple Stock Performance

AAPL stock opened at $294.98 on Wednesday. The company has a 50-day simple moving average of $291.15 and a 200 day simple moving average of $273.06. The company has a market capitalization of $4.33 trillion, a P/E ratio of 35.67, a PEG ratio of 2.58 and a beta of 1.09. 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 Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple's revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. Sell-side analysts predict that Apple Inc. will post 8.74 earnings per share 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 $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 a boost from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is presently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street's Leaning Into Apple's New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory's price surge threatens Apple's 'magic formula' — and the economy

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 64,949 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the transaction, the chief executive officer owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 97,875 shares of company stock worth $24,998,541. Corporate insiders own 0.06% of the company's stock.

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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