Osborne Partners Capital Management LLC Sells 9,843 Shares of Apple Inc. $AAPL

Key Points

• Osborne Partners Capital Management trimmed its Apple stake by 3.3% in the fourth quarter, selling 9,843 shares and ending with 284,356 shares valued at about $77.3 million. Apple remains its second-largest holding and makes up roughly 4% of the portfolio.
• Apple’s latest quarterly results were strong, with earnings per share of $2.01 and revenue of $111.18 billion, both beating expectations. The company also posted 16.6% year-over-year revenue growth and continued its post-earnings rally to near all-time highs.
• Investor sentiment remains broadly positive as Apple raised its dividend to $0.27 per share and announced a new $100 billion buyback, while analysts have been lifting price targets. However, there is some uncertainty around its AI strategy and a possible dispute with OpenAI.

Osborne Partners Capital Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,356 shares of the iPhone maker's stock after selling 9,843 shares during the quarter. Apple makes up about 4.0% of Osborne Partners Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Osborne Partners Capital Management LLC's holdings in Apple were worth $77,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Reyes Financial Architecture Inc. lifted its position in Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after buying an additional 37 shares during the last quarter. WESPAC Advisors LLC lifted its position in 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 buying an additional 39 shares during the last quarter. American Alpha Advisors LLC lifted its position in Apple by 3.7% in the third quarter. American Alpha Advisors LLC now owns 1,151 shares of the iPhone maker's stock valued at $293,000 after buying an additional 41 shares during the last quarter. Seven Springs Wealth Group LLC lifted its position in Apple by 0.3% in the third quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker's stock valued at $3,934,000 after buying an additional 42 shares during the last quarter. Finally, Avant Capital LLC lifted its position in Apple by 0.9% in the third quarter. Avant Capital LLC now owns 4,814 shares of the iPhone maker's stock valued at $1,226,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

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Key Stories Impacting Apple

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

Apple Price Performance

Shares of AAPL opened at $300.23 on Monday. The stock has a market capitalization of $4.41 trillion, a PE ratio of 36.30, a P/E/G ratio of 2.61 and a beta of 1.06. Apple Inc. has a 1 year low of $193.46 and a 1 year high of $303.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The company's 50-day simple moving average is $265.37 and its 200-day simple moving average is $267.47.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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. The business had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 earnings per share. Analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 30,002 shares of the company'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 directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a 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, 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 owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 97,759 shares of company stock worth $24,964,305 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent analyst reports. UBS Group set a $296.00 target price on shares of Apple and gave the company a "neutral" rating in a research report on Friday, May 1st. Barclays reaffirmed an "underweight" rating and issued a $253.00 target price (up from $248.00) on shares of Apple in a research report on Friday, May 1st. Robert W. Baird set a $310.00 target price on shares of Apple in a research report on Friday, May 1st. Moffett Nathanson upped their target price on shares of Apple from $241.00 to $270.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. Finally, Rosenblatt Securities upped their target price on shares of Apple from $268.00 to $276.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average target price 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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