Copeland Capital Management LLC Trims Holdings in Apple Inc. $AAPL

Key Points

• Copeland Capital Management cut its Apple stake by 5.2% in the fourth quarter, selling 4,726 shares and ending with 86,082 shares valued at about $23.4 million.
• Apple continues to draw strong institutional and analyst support, with 67.73% of shares held by hedge funds and other institutions and a consensus analyst rating of Moderate Buy with an average price target of $308.74.
• The company reported a beat on earnings and revenue for its latest quarter, while also raising its dividend; however, insiders have recently sold shares and some analysts are growing more cautious on valuation after the stock's run-up.

Copeland Capital Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,082 shares of the iPhone maker's stock after selling 4,726 shares during the quarter. Copeland Capital Management LLC's holdings in Apple were worth $23,402,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in Apple in the 2nd quarter valued at $38,942,255,000. Nuveen LLC purchased a new stake in Apple in the 1st quarter valued at $17,472,482,000. Laurel Wealth Advisors LLC grew its holdings in Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after buying an additional 26,937,401 shares in the last quarter. Northern Trust Corp grew its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AAPL shares. Phillip Securities upgraded Apple from a "moderate sell" rating to a "hold" rating in a report on Sunday, February 1st. BNP Paribas Exane raised Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price for the company in a research note on Friday, April 17th. Wedbush restated an "outperform" rating and issued a $400.00 target price (up from $350.00) on shares of Apple in a research report on Friday, May 8th. Stephens set a $315.00 price target on Apple in a research note on Monday, January 26th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a report on Wednesday, March 4th. One equities 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average price target of $308.74.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Insider Buying and Selling

In related news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction on 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 transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This trade 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 ninety days, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 1.3%

Shares of NASDAQ AAPL opened at $308.82 on Friday. Apple Inc. has a twelve month low of $193.46 and a twelve month high of $311.40. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $269.64 and a 200-day simple moving average of $268.63. The stock has a market capitalization of $4.54 trillion, a PE ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company's revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a 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 (DPR) is 13.06%.

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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