Heritage Wealth Management Inc. Sells 2,824 Shares of Apple Inc. $AAPL

Key Points

• Heritage Wealth Management sold 2,824 Apple shares in the fourth quarter, trimming its position by 4% to 68,139 shares worth about $18.5 million. Apple remains the firm’s second-largest holding and makes up 5.2% of its portfolio.
• Apple’s latest quarterly results were strong, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping expectations. Revenue rose 16.6% year over year, and analysts now forecast 8.74 EPS for the current year.
• Wall Street remains broadly positive on Apple, with an average “Moderate Buy” rating and a consensus price target of $305.74. The company also raised its quarterly dividend to $0.27 per share, payable May 14.

Heritage Wealth Management Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,139 shares of the iPhone maker's stock after selling 2,824 shares during the period. Apple comprises about 5.2% of Heritage Wealth Management Inc.'s portfolio, making the stock its 2nd largest position. Heritage Wealth Management Inc.'s holdings in Apple were worth $18,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AE Wealth Management LLC raised its holdings in shares of Apple by 7.0% during the fourth quarter. AE Wealth Management LLC now owns 2,150,834 shares of the iPhone maker's stock worth $584,726,000 after acquiring an additional 140,705 shares during the period. Ferguson Shapiro LLC grew its position in Apple by 0.7% in the fourth quarter. Ferguson Shapiro LLC now owns 20,345 shares of the iPhone maker's stock valued at $5,531,000 after purchasing an additional 133 shares in the last quarter. Shelton Wealth Management LLC grew its position in Apple by 3.4% in the fourth quarter. Shelton Wealth Management LLC now owns 7,402 shares of the iPhone maker's stock valued at $2,012,000 after purchasing an additional 246 shares in the last quarter. Whittier Trust Co. grew its position in Apple by 2.7% in the fourth quarter. Whittier Trust Co. now owns 1,833,094 shares of the iPhone maker's stock valued at $480,931,000 after purchasing an additional 47,935 shares in the last quarter. Finally, Pennsylvania Capital Management Inc. ADV grew its position in Apple by 1.9% in the fourth quarter. Pennsylvania Capital Management Inc. ADV now owns 150,640 shares of the iPhone maker's stock valued at $40,953,000 after purchasing an additional 2,772 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $330.00 target price (up from $315.00) on shares of Apple in a research report on Friday, May 1st. UBS Group set a $296.00 target price on shares of Apple and gave the company a "neutral" rating in a research report on Friday, May 1st. TD Cowen reaffirmed a "buy" rating and issued a $335.00 target price (up from $325.00) on shares of Apple in a research report on Friday, May 1st. Maxim Group raised shares of Apple from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a research report on Friday, January 30th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $310.00 target price (up from $300.00) 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $305.74.

Apple Stock Performance

Shares of AAPL opened at $292.68 on Tuesday. The firm has a 50-day moving average of $262.63 and a 200-day moving average of $266.47. Apple Inc. has a one year low of $193.46 and a one year high of $294.76. The company has a market cap of $4.30 trillion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06. 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 quarterly earnings data 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 net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter last year, the firm posted $1.65 EPS. The company's quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a $0.27 dividend. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is 12.58%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s latest earnings showed record-like strength, with revenue and EPS beating estimates and iPhone sales surging, reinforcing confidence in the company’s core business and margin profile.
• Positive Sentiment: Apple is being viewed more favorably on AI and product innovation, with analysts and commentators highlighting a coming WWDC catalyst, deeper AI integration, and potential new growth from wearables, Vision products, and smart glasses.
• Positive Sentiment: Reports that Apple may use Intel for some chip production could be seen as strategically positive because it reduces reliance on a single supplier and may improve long-term supply-chain resilience. Article Title
• Positive Sentiment: Apple’s pricing power remains intact, as it reportedly raised the Mac mini’s starting price while still seeing strong demand and backorders, suggesting healthy interest in its hardware lineup.
• Neutral Sentiment: Apple will pay its quarterly dividend today, which supports the stock’s income appeal but is not likely a major near-term share-price driver.
• Negative Sentiment: Director Arthur Levinson’s $71 million stock sale may temper enthusiasm a bit, since insider selling near highs can signal management caution or profit-taking.
• Negative Sentiment: Some coverage warns that Apple’s stock may be getting stretched after its run-up, and rising component costs could pressure future margins if consumer hardware pricing becomes harder to manage.

Insider Activity

In other news, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the transaction, the chief executive officer owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction 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 trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 96,485 shares of company stock valued at $24,594,845 in the last quarter. Company insiders own 0.06% of the company's stock.

Apple Company 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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