Simon Quick Advisors LLC Sells 9,028 Shares of Apple Inc. $AAPL

Key Points

• Simon Quick Advisors reduced its Apple stake by 3.1%, selling 9,028 shares in the first quarter while retaining 277,854 shares valued at approximately $70.5 million. Apple represents about 3.2% of the firm’s portfolio.
• Apple reported strong quarterly results, with revenue rising 16.4% year over year to $109.42 billion and EPS of $2.02, beating analyst expectations. iPhone and Mac revenue increased 22% and 29%, respectively.
• Apple declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $331.60.

Simon Quick Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,854 shares of the iPhone maker's stock after selling 9,028 shares during the period. Apple makes up about 3.2% of Simon Quick Advisors LLC's investment portfolio, making the stock its 8th largest position. Simon Quick Advisors LLC's holdings in Apple were worth $70,517,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new position in Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the last quarter. LSV Asset Management acquired a new stake in Apple in the 4th quarter worth $65,000. Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter worth $69,000. Finally, Inspire Investing LLC bought a new position in shares of Apple during the 4th quarter worth about $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of Apple stock opened at $308.91 on Monday. 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 firm's 50-day simple moving average is $309.51 and its 200-day simple moving average is $281.60. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $344.57. The firm has a market cap of $4.54 trillion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple's dividend payout ratio is currently 12.39%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Insider Buying and Selling at Apple

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Monness Crespi & Hardt upped their price objective on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Evercore reissued an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. Robert W. Baird boosted their price target on Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. UBS Group reaffirmed a "neutral" rating on shares of Apple in a report on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $331.60.

Apple 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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