Northern Financial Advisors Inc Sells 11,925 Shares of Apple Inc. $AAPL

Key Points

• Northern Financial Advisors Inc cut its Apple stake by 45.9% in the fourth quarter, selling 11,925 shares and leaving it with 14,043 shares worth about $3.82 million.
• Apple’s latest quarterly results beat expectations, with EPS of $2.01 on revenue of $111.18 billion, and the company also raised its quarterly dividend to $0.27 per share.
• Institutional and insider activity remains active: hedge funds continue to hold a large portion of Apple, while recent insiders including Ben Borders and Kevan Parekh sold shares.

Northern Financial Advisors Inc decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 45.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,043 shares of the iPhone maker's stock after selling 11,925 shares during the quarter. Apple accounts for approximately 4.4% of Northern Financial Advisors Inc's portfolio, making the stock its 5th largest holding. Northern Financial Advisors Inc's holdings in Apple were worth $3,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. First National Bank of Hutchinson grew its stake 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 worth $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC grew its stake 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 worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC grew its stake 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 worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its stake 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 worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its stake in Apple by 2.4% in 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 acquiring an additional 1,155 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction 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 directly owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 97,759 shares of company stock worth $24,964,305. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL opened at $300.23 on Monday. Apple Inc. has a 52-week low of $193.46 and a 52-week high of $303.20. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm's fifty day moving average is $265.37 and its two-hundred day moving average is $267.47. The stock has a market cap of $4.41 trillion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.61 and a beta of 1.06.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the company posted $1.65 EPS. The firm's quarterly revenue was up 16.6% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio is presently 13.06%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
• Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
• Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
• Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
• Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
• Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic's Mythos Helped Find Bugs in Apple's Desktop Operating System

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAPL shares. Stephens set a $315.00 price target on shares of Apple in a research note on Monday, January 26th. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a research note on Monday, March 2nd. Robert W. Baird set a $310.00 price target on shares of Apple in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Apple from $315.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Finally, KGI Securities raised shares of Apple to an "outperform" rating and set a $306.00 price target on the stock in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average price target of $308.74.

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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