Key Capital Management INC Acquires Shares of 7,166 Apple Inc. $AAPL

Key Points

• Key Capital Management opened a new position in Apple, buying 7,166 shares valued at about $1.95 million. Apple now accounts for 1.9% of the firm’s portfolio and ranks as its 16th-largest holding.
• Apple’s latest earnings topped expectations, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion above forecasts. Revenue rose 16.6% from a year earlier, underscoring continued business strength.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain generally positive. MarketBeat says Apple carries a Moderate Buy rating with an average price target of $305.74.

Key Capital Management INC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,166 shares of the iPhone maker's stock, valued at approximately $1,948,000. Apple makes up 1.9% of Key Capital Management INC's investment portfolio, making the stock its 16th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Isthmus Partners LLC boosted its holdings in shares of Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after acquiring an additional 5,808 shares during the last quarter. Sellwood Investment Partners LLC boosted its holdings in shares of Apple by 110.9% during the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker's stock valued at $34,000 after acquiring an additional 71 shares during the last quarter. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at about $65,000. Finally, 49 Wealth Management LLC boosted its holdings in shares of Apple by 15.7% during the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock valued at $76,000 after acquiring an additional 40,543 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

AAPL opened at $293.25 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 cap of $4.31 trillion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.55 and a beta of 1.06. The company's 50 day moving average is $261.85 and its 200 day moving average is $266.04. Apple Inc. has a 12-month low of $193.46 and a 12-month high of $294.76.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter last year, the business earned $1.65 EPS. The firm's revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is 12.58%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 96,485 shares of company stock worth $24,594,845. Company insiders own 0.06% of the company's stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Maxim Group raised shares of Apple from a "hold" rating to a "buy" rating and set a $300.00 price target on the stock in a report on Friday, January 30th. Stephens set a $315.00 price target on shares of Apple in a report on Monday, January 26th. Phillip Securities raised shares of Apple from a "moderate sell" rating to a "hold" rating in a report on Sunday, February 1st. Rosenblatt Securities raised their price target on shares of Apple from $268.00 to $276.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Finally, Jefferies Financial Group set a $330.00 price target on shares of Apple in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average price target of $305.74.

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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