Osbon Capital Management LLC Purchases Shares of 5,241 Apple Inc. $AAPL

Key Points

• Osbon Capital Management opened a new position in Apple, buying 5,241 shares valued at about $1.425 million in the fourth quarter. Apple now makes up 1.3% of the firm’s portfolio and is its 15th-largest holding.
• Apple reported strong quarterly results, with EPS of $2.01 versus estimates of $1.95 and revenue of $111.18 billion, topping expectations. Revenue rose 16.6% year over year, and analysts still forecast full-year EPS of 8.74.
• The company also raised its dividend to $0.27 per quarter, while analysts remain broadly constructive with a Moderate Buy rating and an average price target of $314.85. However, insiders have been selling shares, and Apple faces some legal and cost-related overhangs, including a UK iCloud lawsuit and rising component prices.

Osbon Capital Management LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,241 shares of the iPhone maker's stock, valued at approximately $1,425,000. Apple accounts for 1.3% of Osbon Capital Management LLC's investment portfolio, making the stock its 15th biggest holding.

Several other large investors also recently modified their holdings of the stock. Reyes Financial Architecture Inc. lifted its position in Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock worth $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC grew its position in shares of Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock valued at $3,351,000 after purchasing an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. increased its stake in shares of Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock worth $286,000 after purchasing an additional 40 shares during the period. Orion Investment Co increased its stake in shares of Apple by 0.3% during the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock worth $3,902,000 after purchasing an additional 41 shares during the period. Finally, Seven Springs Wealth Group LLC lifted its holdings in Apple by 0.3% during the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker's stock worth $3,934,000 after purchasing an additional 42 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $294.98 on Wednesday. The business has a fifty day moving average price of $291.15 and a two-hundred day moving average price of $273.06. The stock has a market capitalization of $4.33 trillion, a PE ratio of 35.67, a P/E/G ratio of 2.58 and a beta of 1.09. 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 Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 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 analyst estimates of $109.46 billion. During the same period in the prior year, the firm posted $1.65 EPS. Apple's quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Insider Activity

In other news, CFO Kevan Parekh sold 1,534 shares of the business'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 completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the 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 owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,875 shares of company stock valued at $24,998,541 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group restated a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Rosenblatt Securities reissued a "neutral" rating and set a $276.00 target price on shares of Apple in a report on Tuesday, June 9th. Citigroup reissued a "buy" rating on shares of Apple in a research report on Monday, June 1st. Wedbush restated an "outperform" rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. Finally, Robert W. Baird set a $310.00 price target 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. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $314.85.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street's Leaning Into Apple's New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory's price surge threatens Apple's 'magic formula' — and the economy

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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