Greenwood Gearhart Inc. Sells 9,865 Shares of Apple Inc. $AAPL

Key Points

• Greenwood Gearhart Inc. trimmed its Apple stake by 4.3% in the fourth quarter, selling 9,865 shares and ending with 218,673 shares valued at about $59.4 million.
• Apple reported better-than-expected quarterly results, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion, up 16.6% year over year.
• The stock has stayed near record levels, trading around $310.26, while analysts remain broadly constructive with a consensus rating of Moderate Buy and a consensus price target of $312.82.

Greenwood Gearhart Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 218,673 shares of the iPhone maker's stock after selling 9,865 shares during the quarter. Apple makes up approximately 3.3% of Greenwood Gearhart Inc.'s portfolio, making the stock its 9th biggest position. Greenwood Gearhart Inc.'s holdings in Apple were worth $59,425,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. First National Bank of Hutchinson boosted its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE boosted its position in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated 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 transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction dated 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 of the company's stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. 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. Over the last quarter, insiders sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock opened at $310.26 on Thursday. Apple Inc. has a one year low of $195.07 and a one year high of $316.94. The firm has a market capitalization of $4.56 trillion, a price-to-earnings ratio of 37.52, a PEG ratio of 2.74 and a beta of 1.09. The business has a 50-day simple moving average of $279.10 and a 200 day simple moving average of $270.84. 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 issued 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. 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 analyst estimates of $109.46 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm's revenue was up 16.6% compared to the same quarter last year. On average, 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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. 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. Apple's dividend payout ratio is presently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Multiple analysts reiterated bullish views on Apple ahead of WWDC, including Goldman Sachs keeping a Buy rating with a $340 target and Evercore ISI lifting its target to $365, citing Apple’s AI roadmap, ecosystem strength, and services growth. Article Title
• Positive Sentiment: Investor expectations remain high that Apple will unveil major AI updates at WWDC, especially a rebuilt Siri and deeper Apple Intelligence features, which could extend the stock’s recent rally. Article Title
• Positive Sentiment: Reports suggest Apple may expand its ecosystem with a native bill-splitting/payment feature in iOS, which could deepen user engagement and strengthen its services revenue stream. Article Title
• Positive Sentiment: Commentary around Apple’s stock has been upbeat, with articles highlighting outperformance versus the S&P 500 and strong demand for iPhones and Macs ahead of the conference. Article Title
• Neutral Sentiment: UBS said not to expect fireworks from WWDC and kept a Neutral rating, suggesting the event may not deliver a near-term stock catalyst if announcements disappoint. Article Title
• Neutral Sentiment: Apple’s recent gains and all-time high have also prompted valuation concerns, with some analysts and commentators warning the shares may already price in a lot of good news. Article Title
• Negative Sentiment: Reuters reported that Apple agreed to submit India business financials in an antitrust case, keeping regulatory risk in focus and raising the possibility of penalties. Article Title
• Negative Sentiment: Competitive headlines from Nvidia, Walmart, and others show mounting pressure on parts of Apple’s ecosystem, including PCs and payments, which could weigh on sentiment if rivals gain traction. Article Title

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $310.00 target price (up from $300.00) on shares of Apple in a research report on Friday, May 1st. UBS Group restated a "neutral" rating on shares of Apple in a research report on Wednesday. Wedbush restated an "outperform" rating and set a $400.00 target price (up from $350.00) on shares of Apple in a research report on Friday, May 8th. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research report on Wednesday, March 4th. Finally, Moffett Nathanson upped their target price on Apple from $241.00 to $270.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $312.82.

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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