Summit Wealth Partners LLC Reduces Holdings in Apple Inc. $AAPL

Summit Wealth Partners LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,801 shares of the iPhone maker’s stock after selling 2,232 shares during the period. Summit Wealth Partners LLC’s holdings in Apple were worth $4,567,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First National Bank of Hutchinson lifted its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its stake in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC lifted its stake in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its stake in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 0.2%

NASDAQ AAPL opened at $298.21 on Friday. The stock’s 50-day simple moving average is $264.61 and its two-hundred day simple moving average is $267.25. Apple Inc. has a twelve month low of $193.46 and a twelve month high of $300.92. 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 company has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 36.06, a PEG ratio of 2.60 and a beta of 1.06.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. Research analysts forecast that Apple Inc. will post 8.74 EPS 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 dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is 13.06%.

Insider Transactions at Apple

In related news, insider Ben Borders sold 1,274 shares of the firm’s 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 transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 30,002 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AAPL. Oppenheimer reiterated a “market perform” rating on shares of Apple in a research note on Friday, January 30th. UBS Group set a $296.00 price target on Apple and gave the company a “neutral” rating in a report on Friday, May 1st. TD Cowen reaffirmed a “buy” rating and issued a $335.00 price target (up from $325.00) on shares of Apple in a report on Friday, May 1st. Phillip Securities raised Apple from a “moderate sell” rating to a “hold” rating in a report on Sunday, February 1st. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a report on Thursday, March 12th. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $308.74.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s latest quarter was a clear beat, with revenue of $111.18 billion and EPS of $2.01 topping expectations, while management also approved a fresh $100 billion buyback and raised the dividend.
• Positive Sentiment: Evercore ISI raised its price target on Apple to $365 from $330 and reiterated an Outperform rating, citing strong Services growth and long-term earnings/free-cash-flow compounding.
• Positive Sentiment: Investor enthusiasm remains elevated around Apple’s AI roadmap, with reports pointing to WWDC as a potential catalyst and broader expectations that Apple can monetize AI through devices and Services.
• Positive Sentiment: China-related headlines may also help sentiment, as Xi Jinping told U.S. CEOs including Tim Cook that China will “open wider,” easing some concerns about Apple’s supply chain and market access.
• Neutral Sentiment: Apple is reportedly exploring new AI-agent support in the App Store and additional iOS features, which could support the ecosystem but are still early-stage product rumors.
• Neutral Sentiment: Security reports about vulnerabilities found in macOS/iOS are a reminder of cyber risks, but they do not yet appear to be a material earnings issue.
• Negative Sentiment: OpenAI is reportedly considering legal action against Apple over their ChatGPT partnership, raising the risk of a public dispute around Apple’s AI strategy.
• Negative Sentiment: Recent insider selling and a reported Foxconn ransomware incident may slightly temper sentiment, though neither looks large enough to outweigh the bullish earnings and analyst upgrades.

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.