Eagle Wealth Advisors LLC Decreases Stock Holdings in Apple Inc. $AAPL

Key Points

• Eagle Wealth Advisors LLC cut its Apple stake by 11.4% in the first quarter, selling 4,631 shares and ending with 36,120 shares valued at about $9.17 million. Apple remained its second-largest holding, making up roughly 8.5% of the portfolio.
• Apple reported stronger-than-expected quarterly results, posting EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion versus $109.46 billion expected. Revenue rose 16.6% year over year.
• The company raised its dividend slightly to $0.27 per share from $0.26, while analysts continue to view the stock favorably overall with a “Moderate Buy” consensus and an average price target of $314.85.

Eagle Wealth Advisors LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,120 shares of the iPhone maker's stock after selling 4,631 shares during the period. Apple accounts for approximately 8.5% of Eagle Wealth Advisors LLC's portfolio, making the stock its 2nd largest holding. Eagle Wealth Advisors LLC's holdings in Apple were worth $9,167,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Overbrook Management Corp increased its holdings in Apple by 57.4% in the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after buying an additional 38,174 shares in the last quarter. Rainier Family Wealth Inc. boosted its stake in shares of Apple by 14.1% during the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock worth $6,189,000 after acquiring an additional 3,014 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Apple during the 4th quarter worth about $1,178,000. Summit Wealth Partners LLC grew its position in shares of Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock valued at $8,880,000 after acquiring an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new stake in shares of Apple during the 4th quarter valued at about $105,482,000. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The stock was 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 directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Borders sold 1,274 shares of the firm's 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 completion of the transaction, the insider owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Tuesday, June 9th. KeyCorp reissued a "sector weight" rating on shares of Apple in a report on Tuesday, June 9th. Jefferies Financial Group restated a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. Maxim Group reaffirmed a "buy" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, DA Davidson reiterated a "neutral" rating and set a $270.00 target price on shares of Apple in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $314.85.

Apple Trading Down 0.3%

AAPL stock opened at $315.32 on Friday. 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 Inc. has a 12-month low of $201.50 and a 12-month high of $317.40. The stock has a market cap of $4.63 trillion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.75 and a beta of 1.10. The business's 50-day moving average is $299.55 and its 200 day moving average is $275.26.

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, beating analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date 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 dividend yield of 0.3%. Apple's dividend payout ratio (DPR) is presently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

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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