Apple Inc. $AAPL Stake Trimmed by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,348 shares of the iPhone maker’s stock after selling 9,165 shares during the period. Apple comprises approximately 3.0% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 2nd biggest position. Valley Wealth Managers Inc.’s holdings in Apple were worth $46,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Vanguard Group Inc. lifted its position in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. State Street Corp lifted its holdings in 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 boosted its position in Apple by 0.5% in 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 buying an additional 1,866,103 shares during the period. Morgan Stanley grew its stake 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 purchased a new position in shares of Apple during the fourth quarter worth approximately $52,266,468,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 1.8%

NASDAQ:AAPL opened at $303.42 on Tuesday. The firm has a 50 day moving average of $309.40 and a 200 day moving average of $281.90. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52 week low of $201.68 and a 52 week high of $344.57. The stock has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.65 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the previous year, the business earned $1.57 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 8.8 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s payout ratio is currently 12.39%.

Key Headlines Impacting Apple

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

Insider Transactions 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 shares were 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 in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Rosenblatt Securities increased their price objective on Apple from $276.00 to $300.00 and gave the stock a “neutral” rating in a research note on Friday. DA Davidson restated a “neutral” rating and issued a $270.00 price objective on shares of Apple in a report on Friday. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Friday. Barclays reaffirmed an “underweight” rating and issued a $245.00 price target (down from $253.00) on shares of Apple in a research report on Friday. Finally, Robert W. Baird lifted their price objective on shares of Apple from $310.00 to $330.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target 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.