Avior Wealth Management LLC Sells 16,904 Shares of Apple Inc. $AAPL

Key Points

• Avior Wealth Management reduced its Apple position by 8.5% in the second quarter, selling 16,904 shares and retaining 181,537 shares valued at approximately $52.5 million.
• Institutional investors own 67.73% of Apple, while recent insider sales were relatively small; insiders hold just 0.06% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $330.53. Apple also exceeded quarterly earnings and revenue estimates, reporting $2.02 in EPS and $109.42 billion in revenue.

Avior Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,537 shares of the iPhone maker's stock after selling 16,904 shares during the period. Apple comprises approximately 1.4% of Avior Wealth Management LLC's portfolio, making the stock its 12th largest position. Avior Wealth Management LLC's holdings in Apple were worth $52,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lifetime Wealth Management P.C. purchased a new position in Apple in the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter valued at approximately $65,000. Timmons Wealth Management LLC bought a new position in shares of Apple in the fourth quarter worth approximately $69,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the fourth quarter worth $76,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $307.75, for a total value of $442,852.25. Following the completion of the transaction, the senior vice president owned 40,107 shares in the company, valued at approximately $12,342,929.25. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ben Borders sold 116 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were 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 of the company's stock, valued at $11,425,754.82. This represents a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AAPL. BTIG Research started coverage on shares of Apple in a research report on Monday. They set a "neutral" rating for the company. DZ Bank lowered shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 target price for the company. in a report on Tuesday, August 4th. UBS Group reissued a "neutral" rating on shares of Apple in a research note on Friday, July 31st. DA Davidson restated a "neutral" rating and set a $270.00 price target on shares of Apple in a report on Friday, July 31st. Finally, Rosenblatt Securities upped their price target on Apple from $276.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $330.53.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analyst upgrade and bullish outlook: Rothschild & Co. Redburn upgraded Apple from “Neutral” to “Buy” and raised its price target to $400, implying substantial upside. Morgan Stanley also identified Apple among large-cap technology stocks showing a bullish technical signal. Apple stock upgrade and price target
• Positive Sentiment: Apple positioned as an AI and volatility hedge: Analysts argue that Apple’s restrained AI infrastructure spending limits capital-expenditure and valuation risk relative to peers committing hundreds of billions of dollars to AI. Some investors also view Apple as an underappreciated AI beneficiary through its installed base and potential improvements to Siri. Apple's low AI spending
• Positive Sentiment: Macro support: Retreating Treasury yields helped restore demand for mega-cap technology stocks, while Apple showed relative strength even as semiconductor shares and parts of the technology sector weakened. Apple stock and Treasury yields
• Positive Sentiment: Product optionality: Reports that a future foldable iPhone could support an estimated 11% increase in average iPhone prices provide a potential catalyst for revenue and margin growth, although the product remains unannounced. Apple foldable iPhone outlook

Apple Price Performance

Shares of NASDAQ AAPL opened at $316.83 on Thursday. Apple Inc. has a 1 year low of $223.78 and a 1 year high of $344.57. The stock has a market capitalization of $4.62 trillion, a P/E ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 1.09. The company's 50-day moving average is $309.95 and its 200 day moving average is $286.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio (DPR) is presently 12.39%.

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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