Valley Wealth Managers Inc. Has $46.53 Million Holdings in Apple Inc. $AAPL

Key Points

• Valley Wealth Managers reduced its Apple stake by 4.8% in the first quarter, selling 9,165 shares. It still held 183,348 shares worth approximately $46.53 million, making Apple the firm’s second-largest position and about 3% of its portfolio.
• Institutional ownership remains high at 67.73%, with Vanguard, State Street, Geode Capital and Morgan Stanley among the largest holders; each increased its position in the latest reported quarter.
• Apple’s latest results exceeded expectations, with earnings of $2.02 per share and revenue of $109.42 billion, up 16.4% year over year. Analysts maintain a “Moderate Buy” consensus with a $331.60 price target, while the stock’s valuation remains elevated at a P/E ratio of 34.8.

Valley Wealth Managers Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,348 shares of the iPhone maker's stock after selling 9,165 shares during the quarter. Apple accounts for about 3.0% of Valley Wealth Managers Inc.'s investment portfolio, making the stock its 2nd largest position. Valley Wealth Managers Inc.'s holdings in Apple were worth $46,532,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAPL. Vanguard Group Inc. lifted its position in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. State Street Corp lifted its position in shares of Apple by 1.1% during the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker's stock valued at $164,218,801,000 after buying an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker's stock valued at $97,031,587,000 after acquiring an additional 1,866,103 shares during the period. Morgan Stanley increased its holdings in Apple by 0.6% in the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker's stock worth $62,659,118,000 after acquiring an additional 1,379,651 shares in the last quarter. Finally, Norges Bank bought a new stake in Apple during the 4th quarter worth approximately $52,266,468,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $303.42 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1-year low of $201.68 and a 1-year high of $344.57. The business has a 50 day simple moving average of $309.40 and a two-hundred day simple moving average of $281.90. The stock has a market capitalization of $4.46 trillion, a PE ratio of 34.80, a P/E/G 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 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the prior year, the company earned $1.57 EPS. The company's quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 8.8 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is 12.39%.

Insider Activity at Apple

In other Apple news, 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 directly owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAPL. Monness Crespi & Hardt increased their price objective on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. KGI Securities cut Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. UBS Group restated a "neutral" rating on shares of Apple in a research report on Friday. The Goldman Sachs Group reiterated a "buy" rating and set a $360.00 target price (down from $370.00) on shares of Apple in a research report on Friday. Finally, Maxim Group reissued a "buy" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.60.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

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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