Bartlett & CO. Wealth Management LLC Sells 34,583 Shares of Apple Inc. $AAPL

Key Points

• Bartlett & CO. Wealth Management reduced its Apple stake by 34,583 shares, or 2.1%, during the first quarter, but still held 1,648,996 shares worth approximately $456.5 million. Apple remains the firm’s largest holding and represents about 6% of its portfolio.
• Apple reported strong quarterly results, with revenue up 16.4% year over year to $109.4 billion and EPS of $2.02, beating analysts’ expectations. iPhone revenue rose 22% and Mac revenue increased 29%.
• Institutional investors own 67.73% of Apple, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $331.60. Apple also declared a quarterly dividend of $0.27 per share.

Bartlett & CO. Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,648,996 shares of the iPhone maker's stock after selling 34,583 shares during the period. Apple comprises approximately 6.0% of Bartlett & CO. Wealth Management LLC's holdings, making the stock its largest holding. Bartlett & CO. Wealth Management LLC's holdings in Apple were worth $456,492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Apple during the 4th quarter worth about $52,266,468,000. Nuveen LLC bought a new position in shares of Apple in the first quarter worth about $17,472,482,000. Cardano Risk Management B.V. lifted its position in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and issued a $400.00 price target on shares of Apple in a report on Friday, June 5th. Evercore reiterated an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Friday. Royal Bank Of Canada set a $365.00 target price on Apple in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Apple in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $331.60.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of Apple 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 of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $308.91 on Monday. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $4.54 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.65 and a beta of 1.09. The stock's fifty day simple moving average is $309.51 and its 200-day simple moving average is $281.60.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm's revenue was up 16.4% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given 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 is Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

About Apple

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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