Consolidated Portfolio Review Corp Lowers Stock Holdings in Apple Inc. $AAPL

Key Points

• Consolidated Portfolio Review Corp cut its Apple stake by 86.7% in the fourth quarter, leaving it with 27,305 shares valued at about $7.4 million.
• Apple reported strong fiscal Q2 results, with earnings of $2.01 per share and revenue of $111.18 billion, both above analyst expectations; revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share, while analysts remain broadly constructive with a Moderate Buy consensus and an average price target of about $305.74.

Consolidated Portfolio Review Corp decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 86.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,305 shares of the iPhone maker's stock after selling 177,542 shares during the quarter. Apple makes up 0.6% of Consolidated Portfolio Review Corp's holdings, making the stock its 17th largest holding. Consolidated Portfolio Review Corp's holdings in Apple were worth $7,423,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First National Bank of Hutchinson increased its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC increased its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC increased its holdings in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its position in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after acquiring an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AAPL. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research note on Monday, March 2nd. KGI Securities upgraded shares of Apple to an "outperform" rating and set a $306.00 target price on the stock in a report on Friday, January 30th. Stifel Nicolaus set a $330.00 target price on shares of Apple in a report on Monday, March 2nd. Phillip Securities upgraded shares of Apple from a "moderate sell" rating to a "hold" rating in a report on Sunday, February 1st. Finally, Maxim Group upgraded shares of Apple from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $305.74.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $293.25 on Friday. The company has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.50 and a beta of 1.06. Apple Inc. has a 12 month low of $193.46 and a 12 month high of $294.76. The firm's 50-day moving average is $261.85 and its 200 day moving average is $266.04. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate 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%. The firm's revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. Research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is currently 12.58%.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company's stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 64,949 shares of the business'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 sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 96,485 shares of company stock worth $24,594,845. Insiders own 0.06% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.