SK Wealth Management LLC Cuts Stake in Apple Inc. $AAPL

Key Points

• SK Wealth Management reduced its Apple stake by 13.1% in the fourth quarter, selling 2,296 shares and leaving it with 15,232 shares worth about $3.93 million.
• Apple reported a strong recent quarter, with EPS of $2.01 and revenue of $111.18 billion, both ahead of analyst expectations; revenue rose 16.6% year over year.
• Analysts remain broadly positive on Apple, with firms like Bank of America and Wedbush lifting price targets as optimism builds around Apple’s AI and Siri plans, even as the stock trades near record highs.

SK Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,232 shares of the iPhone maker's stock after selling 2,296 shares during the quarter. Apple comprises about 1.1% of SK Wealth Management LLC's investment portfolio, making the stock its 16th biggest position. SK Wealth Management LLC's holdings in Apple were worth $3,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Overbrook Management Corp increased its position in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after acquiring an additional 38,174 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Apple by 48.4% during the third quarter. Citizens Financial Group Inc. RI now owns 1,426,605 shares of the iPhone maker's stock worth $363,256,000 after acquiring an additional 465,393 shares during the last quarter. Tufton Capital Management increased its position in shares of Apple by 4.3% during the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock worth $25,496,000 after acquiring an additional 4,157 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Apple during the fourth quarter worth about $1,178,000. Finally, KBC Group NV increased its position in shares of Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock worth $1,915,172,000 after acquiring an additional 214,215 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.5%

Shares of Apple stock opened at $312.51 on Friday. 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 has a market cap of $4.59 trillion, a P/E ratio of 37.79, a P/E/G ratio of 2.71 and a beta of 1.06. Apple Inc. has a fifty-two week low of $195.07 and a fifty-two week high of $313.26. The business has a 50-day moving average price of $274.19 and a 200 day moving average price of $269.76.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America raised its price target on Apple to $380 from $330 and kept a Buy rating, saying agentic AI could strengthen Apple’s ecosystem and create meaningful new revenue opportunities.
• Positive Sentiment: Multiple reports say Apple is preparing a major Siri overhaul for WWDC, including a new app-like experience designed to compete more directly with ChatGPT-style assistants, which could improve sentiment around Apple’s AI roadmap.
• Positive Sentiment: Analysts and commentary continue to argue that Apple’s installed base, privacy controls, payments, and device ownership give it a strong position if AI assistants become a primary interface for search, commerce, and productivity.
• Neutral Sentiment: Apple’s stock is already near record territory, so some of the optimism around AI and WWDC may already be reflected in the share price.
• Negative Sentiment: Some articles note that Apple is still viewed by parts of the market as an AI laggard versus rivals, and that its valuation is already rich, which could limit upside if WWDC disappoints.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company's stock, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction dated 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 approximately $11,226,770. This trade represents a 3.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,759 shares of company stock valued at $24,964,305 in the last three months. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AAPL shares. Bank of America reaffirmed a "buy" rating and set a $380.00 target price (up from $330.00) on shares of Apple in a research report on Tuesday. Maxim Group raised Apple from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Friday, January 30th. Wedbush reaffirmed an "outperform" rating and set a $400.00 target price (up from $350.00) on shares of Apple in a research report on Friday, May 8th. Stifel Nicolaus set a $330.00 target price on Apple in a research report on Monday, March 2nd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $310.00 target price (up from $300.00) on shares of Apple in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $310.31.

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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