Impax Asset Management Group plc Sells 5,656 Shares of Apple Inc. $AAPL

Key Points

• Impax Asset Management trimmed its Apple stake by 1.5% in the fourth quarter, selling 5,656 shares and leaving it with 368,237 shares worth about $100.1 million.
• Apple reported strong quarterly results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping expectations, while revenue rose 16.6% year over year.
• The company raised its quarterly dividend to $0.27 per share from $0.26, and analysts remain mostly positive with a consensus Moderate Buy rating and price target around $308.74.

Impax Asset Management Group plc lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 368,237 shares of the iPhone maker's stock after selling 5,656 shares during the period. Impax Asset Management Group plc's holdings in Apple were worth $100,109,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AAPL. Norges Bank bought a new stake in Apple during the second quarter valued at about $38,942,255,000. Nuveen LLC bought a new stake in Apple during the first quarter valued at about $17,472,482,000. Laurel Wealth Advisors LLC grew its holdings in Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Northern Trust Corp grew its holdings in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 1,274 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

NASDAQ:AAPL opened at $308.82 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $4.54 trillion, a P/E ratio of 37.34, a P/E/G ratio of 2.69 and a beta of 1.06. Apple Inc. has a 12 month low of $193.46 and a 12 month high of $311.40. The business's 50-day moving average is $269.64 and its 200 day moving average is $268.62.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping 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 company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm's revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio (DPR) is currently 13.06%.

Key Apple News

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company restated an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research report on Friday, May 1st. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research report on Monday, March 2nd. Stifel Nicolaus set a $330.00 price objective on Apple in a research report on Monday, March 2nd. Royal Bank Of Canada set a $325.00 price objective on Apple in a research report on Monday, February 2nd. Finally, DA Davidson restated a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. 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 given a Sell rating to the company. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $308.74.

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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