Westbourne Investment Advisors Inc. Decreases Stock Holdings in Apple Inc. $AAPL

Westbourne Investment Advisors Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,506 shares of the iPhone maker’s stock after selling 2,535 shares during the quarter. Apple makes up about 6.9% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 2nd largest position. Westbourne Investment Advisors Inc.’s holdings in Apple were worth $25,031,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Evansbrook LLC increased its stake in shares of Apple by 0.4% in the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock valued at $2,054,000 after acquiring an additional 34 shares during the last quarter. JMG Financial Group Ltd. increased its holdings in Apple by 0.7% during the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock worth $1,295,000 after purchasing an additional 35 shares in the last quarter. Reyes Financial Architecture Inc. lifted its holdings in shares of Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares in the last quarter. Interactive Financial Advisors Inc. raised its holdings in shares of Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after purchasing an additional 40 shares during the last quarter. Finally, Sugar Maple Asset Management LLC grew its holdings in shares of Apple by 2.0% in the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after acquiring an additional 40 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AAPL. Seaport Research Partners lowered shares of Apple from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Rosenblatt Securities raised their price objective on Apple from $276.00 to $300.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Bank of America reaffirmed a “buy” rating and set a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday, June 22nd. Finally, BTIG Research assumed coverage on shares of Apple in a research report on Monday, August 17th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $330.53.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Orderly CEO succession: Tim Cook is leaving the CEO role after 15 years but will remain Apple’s executive chairman. Cook strongly endorsed successor John Ternus, a longtime hardware leader, potentially reducing fears of an abrupt management break. Tim Cook’s parting message: Apple is in the hands of a product builder
• Positive Sentiment: Product catalysts ahead: Apple’s first major product event under Ternus is expected September 9, with reports pointing to new iPhones and a possible foldable model. Strong iPhone demand, potential iOS market-share gains and rising interest in Mac hardware for AI workloads could support future revenue. Apple Valuation Nears $5T as John Ternus Steps Up as New CEO
• Neutral Sentiment: Strong track record and support: Cook’s tenure produced substantial shareholder gains, while Apple’s latest quarter delivered revenue growth and an earnings beat. Analysts’ median price target remains above the current quotation, although the stock’s elevated valuation leaves less room for disappointment.
• Negative Sentiment: AI strategy concerns: Ternus inherits an artificial-intelligence strategy that relies heavily on outside partners, leaving Apple behind leading rivals in some areas. Investors will look for evidence that the new CEO can accelerate AI-powered Siri and on-device capabilities. Apple’s New CEO Inherits an AI Strategy Built on Outsiders
• Negative Sentiment: Execution and valuation risks: Commentators warn that App Store pressure, supply-chain challenges, potential memory-cost inflation and a trailing P/E near 37 make Apple vulnerable if the September launch disappoints. Apple TV+’s latest price increase could also slow subscriber growth. Apple Is Facing One of Its Most Challenging Times in a Decade

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total transaction of $447,457.05. Following the sale, the senior vice president directly owned 37,229 shares in the company, valued at $11,576,357.55. This trade represents a 3.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,433 shares of company stock worth $1,367,024. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of Apple stock traded down $5.57 during midday trading on Monday, hitting $314.13. 15,789,602 shares of the company traded hands, compared to its average volume of 49,966,969. The firm’s fifty day moving average price is $312.24 and its 200-day moving average price is $288.52. The stock has a market cap of $4.58 trillion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.74 and a beta of 1.09. Apple Inc. has a 12 month low of $225.95 and a 12 month high of $344.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL) last announced its quarterly 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 company had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. During the same period in the prior year, the company earned $1.57 EPS. Apple’s revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple’s dividend payout ratio is 12.39%.

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.