Warren Street Wealth Advisors LLC Trims Stock Position in Apple Inc. $AAPL

Key Points

• Warren Street Wealth Advisors cut its Apple stake by 17.5% in Q4, selling 3,790 shares and ending the quarter with 17,817 shares worth about $4.84 million.
• Apple recently reported better-than-expected quarterly results, with EPS of $2.01 and revenue of $111.18 billion, both above Wall Street estimates. Revenue also rose 16.6% year over year.
• The company increased its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly positive, with Apple carrying a Moderate Buy consensus rating and an average target price near $308.74.

Warren Street Wealth Advisors LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,817 shares of the iPhone maker's stock after selling 3,790 shares during the quarter. Apple comprises approximately 1.4% of Warren Street Wealth Advisors LLC's portfolio, making the stock its 19th largest position. Warren Street Wealth Advisors LLC's holdings in Apple were worth $4,844,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AAPL. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC raised its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC raised its position in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its position in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after buying an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ:AAPL opened at $308.82 on Monday. The company has a fifty day simple moving average of $269.64 and a two-hundred day simple moving average of $268.62. The company has a market cap of $4.54 trillion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.06. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 52 week low of $193.46 and a 52 week high of $311.40.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company's quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. As a group, equities analysts anticipate 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. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's payout ratio is presently 13.06%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Royal Bank Of Canada set a $325.00 target price on shares of Apple in a report on Monday, February 2nd. KeyCorp reiterated a "sector weight" rating on shares of Apple in a report on Thursday, March 12th. Morgan Stanley reiterated an "overweight" rating and issued a $330.00 target price (up from $315.00) on shares of Apple in a report on Friday, May 1st. Rosenblatt Securities lifted their target price on shares of Apple from $268.00 to $276.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Finally, Tigress Financial reiterated a "strong-buy" rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $308.74.

Insider Activity

In related news, SVP Deirdre O'brien sold 30,002 shares of the business's stock in a transaction 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 completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 business's stock in a transaction 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 transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by company insiders.

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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