EnRich Financial Partners LLC Trims Holdings in Apple Inc. $AAPL

Key Points

• EnRich Financial Partners LLC cut its Apple stake by 29.6% in the fourth quarter, leaving it with 6,458 shares worth about $1.76 million.
• Apple’s institutional ownership remains high, with 67.73% of shares held by institutions and hedge funds, while other funds mostly added to their positions.
• Analysts are still broadly positive on Apple, with a consensus “Moderate Buy” rating and an average price target of $308.74, even as some recent commentary has grown more cautious on valuation.

EnRich Financial Partners LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,458 shares of the iPhone maker's stock after selling 2,720 shares during the period. Apple makes up about 0.5% of EnRich Financial Partners LLC's holdings, making the stock its 21st biggest position. EnRich Financial Partners LLC's holdings in Apple were worth $1,756,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kerusso Capital Management LLC grew its stake in Apple by 31.8% in the 4th quarter. Kerusso Capital Management LLC now owns 25,364 shares of the iPhone maker's stock worth $6,895,000 after acquiring an additional 6,119 shares during the period. REDW Wealth LLC boosted its holdings in shares of Apple by 1.5% during the fourth quarter. REDW Wealth LLC now owns 13,504 shares of the iPhone maker's stock worth $3,671,000 after purchasing an additional 200 shares during the last quarter. Spectrum Investment Advisors Inc. boosted its holdings in shares of Apple by 124.2% during the fourth quarter. Spectrum Investment Advisors Inc. now owns 8,709 shares of the iPhone maker's stock worth $2,368,000 after purchasing an additional 4,825 shares during the last quarter. Briaud Financial Planning Inc grew its position in shares of Apple by 3.3% in the fourth quarter. Briaud Financial Planning Inc now owns 10,239 shares of the iPhone maker's stock valued at $2,784,000 after purchasing an additional 325 shares during the period. Finally, WPG Advisers LLC increased its stake in Apple by 5.9% in the fourth quarter. WPG Advisers LLC now owns 8,565 shares of the iPhone maker's stock valued at $2,328,000 after purchasing an additional 478 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Robert W. Baird set a $310.00 price objective on shares of Apple in a research note on Friday, May 1st. Stifel Nicolaus set a $330.00 price target on Apple in a research report on Monday, March 2nd. Royal Bank Of Canada set a $325.00 price target on Apple in a research note on Monday, February 2nd. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a research note on Friday, January 30th. Finally, Scotiabank set a $330.00 target price on Apple in a report on Monday, February 2nd. One 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 given 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.

Insiders Place Their Bets

In related news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction 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 completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% 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. Insiders sold a total of 97,759 shares of company stock valued at $24,964,305 over the last ninety days. 0.06% of the stock is owned by insiders.

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

Apple Stock Up 1.3%

Apple stock opened at $308.82 on Friday. Apple Inc. has a 52 week low of $193.46 and a 52 week 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 2.66 and a beta of 1.06. The company's 50-day moving average price is $269.64 and its two-hundred day moving average price is $268.63. 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 announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. On average, analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio (DPR) is 13.06%.

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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