Directional Asset Management Makes New Investment in Apple Inc. $AAPL

Key Points

• Directional Asset Management opened a new Apple position in Q4, buying 23,669 shares valued at about $6.4 million. Apple now makes up roughly 5.6% of the firm’s portfolio and is its third-largest holding.
• Apple’s latest earnings came in ahead of expectations, with $2.01 EPS versus the $1.95 consensus and revenue of $111.18 billion, up 16.6% year over year. Analysts now expect Apple to earn $8.74 per share for the current fiscal year.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while Wall Street remains generally upbeat with a Moderate Buy consensus and a price target near $308.74.

Directional Asset Management bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,669 shares of the iPhone maker's stock, valued at approximately $6,435,000. Apple comprises approximately 5.6% of Directional Asset Management's portfolio, making the stock its 3rd largest position.

A number of other large investors have also recently bought and sold shares of AAPL. Norges Bank bought a new position in Apple in the 2nd quarter worth approximately $38,942,255,000. Nuveen LLC bought a new position in Apple in the 1st quarter worth approximately $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 worth $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 worth $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 worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $308.82 on Friday. Apple Inc. has a 12 month low of $193.46 and a 12 month high of $311.40. The stock has a market cap of $4.54 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06. The stock's 50 day moving average price is $269.64 and its 200 day moving average price is $268.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm's quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio is presently 13.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AAPL shares. Royal Bank Of Canada set a $325.00 price objective on Apple in a report on Monday, February 2nd. Rosenblatt Securities increased their price objective on Apple from $268.00 to $276.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on Apple from $315.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Robert W. Baird set a $310.00 price objective on Apple in a report on Friday, May 1st. Finally, Moffett Nathanson increased their price objective on Apple from $241.00 to $270.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $308.74.

Key Stories 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 Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 97,759 shares of company stock worth $24,964,305 in the last three months. 0.06% of the stock is currently owned by company insiders.

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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