Epoch Investment Partners Inc. Cuts Stock Holdings in Apple Inc. $AAPL

Key Points

• Epoch Investment Partners reduced its Apple stake by 0.3%, selling 4,090 shares and retaining 1.23 million shares worth approximately $312.6 million. Apple remains Epoch’s fourth-largest holding and represents about 1.9% of its portfolio.
• Apple exceeded quarterly expectations, reporting EPS of $2.02 versus the $1.89 consensus estimate and revenue of $109.42 billion, up 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $330.44, although recent targets and ratings range from “Sell” to “Strong Buy.”

Epoch Investment Partners Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,231,865 shares of the iPhone maker's stock after selling 4,090 shares during the period. Apple comprises approximately 1.9% of Epoch Investment Partners Inc.'s holdings, making the stock its 4th largest holding. Epoch Investment Partners Inc.'s holdings in Apple were worth $312,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management purchased a new position in Apple during the 4th quarter worth $65,000. Timmons Wealth Management LLC purchased a new position in Apple during the 4th quarter worth $69,000. Finally, 49 Wealth Management LLC increased its holdings in Apple by 15.7% during the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock worth $76,000 after purchasing an additional 40,543 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

AAPL opened at $313.33 on Monday. The firm has a market capitalization of $4.57 trillion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The business's 50-day moving average is $309.45 and its two-hundred day moving average is $283.42. Apple Inc. has a 1 year low of $219.25 and a 1 year high of $344.57.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The company's quarterly revenue was up 16.4% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio is presently 12.39%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. DZ Bank cut Apple from a "buy" rating to a "hold" rating and set a $310.00 target price for the company. in a report on Tuesday, August 4th. DA Davidson restated a "neutral" rating and issued a $270.00 price objective on shares of Apple in a report on Friday, July 31st. Robert W. Baird upped their price objective on shares of Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. The Goldman Sachs Group reiterated a "buy" rating and set a $360.00 target price (down from $370.00) on shares of Apple in a report on Friday, July 31st. Finally, Rosenblatt Securities raised their target price on shares of Apple from $276.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $330.44.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source