Momentum Wealth Planning LLC Trims Position in Apple Inc. $AAPL

Key Points

• Momentum Wealth Planning LLC cut its Apple position by 81.4% in the first quarter, selling 13,382 shares and retaining 3,061 shares valued at approximately $777,000. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share, representing a 0.4% yield.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus rating and an average price target of $331.60, although some firms maintain neutral or hold ratings amid Apple’s elevated valuation.

Momentum Wealth Planning LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 81.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,061 shares of the iPhone maker's stock after selling 13,382 shares during the period. Apple makes up about 0.7% of Momentum Wealth Planning LLC's portfolio, making the stock its 23rd biggest position. Momentum Wealth Planning LLC's holdings in Apple were worth $777,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Lifetime Wealth Management P.C. purchased a new stake in Apple in the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its stake 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 buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter valued at about $65,000. Timmons Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter valued at about $69,000. Finally, Inspire Investing LLC acquired a new position in shares of Apple in the 4th quarter valued at about $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $303.42 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a market capitalization of $4.46 trillion, a PE ratio of 34.80, a P/E/G ratio of 2.65 and a beta of 1.09. Apple Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $344.57. The company has a fifty day moving average of $309.40 and a two-hundred day moving average of $281.90.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 earnings per share. As a group, research analysts forecast that Apple Inc. will post 8.8 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple's payout ratio is presently 12.39%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Analyst Upgrades and Downgrades

Several analysts recently commented on AAPL shares. Jefferies Financial Group reaffirmed a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Royal Bank Of Canada set a $365.00 price target on Apple in a research report on Wednesday, July 15th. UBS Group reissued a "neutral" rating on shares of Apple in a report on Friday. Tigress Financial restated a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, KGI Securities cut shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective on the stock. in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $331.60.

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 116 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company's stock.

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.

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