Obermeyer Wealth Partners Has $89.02 Million Stock Holdings in Apple Inc. $AAPL

Obermeyer Wealth Partners lowered its stake in Apple Inc. (NASDAQ:AAPL) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 327,428 shares of the iPhone maker’s stock after selling 12,206 shares during the period. Apple comprises 4.1% of Obermeyer Wealth Partners’ holdings, making the stock its 5th largest position. Obermeyer Wealth Partners’ holdings in Apple were worth $89,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. raised its holdings in shares of Apple by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares in the last quarter. State Street Corp raised its holdings in shares of Apple by 0.9% during the second quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker’s stock valued at $123,358,461,000 after acquiring an additional 5,224,229 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 1.4% during the second quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker’s stock valued at $72,506,336,000 after acquiring an additional 4,942,638 shares in the last quarter. Norges Bank bought a new position in shares of Apple during the second quarter valued at approximately $38,942,255,000. Finally, Northern Trust Corp raised its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 97,759 shares of company stock valued at $24,964,305 in the last three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Monness Crespi & Hardt upped their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 1st. Rosenblatt Securities upped their target price on Apple from $268.00 to $276.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Stifel Nicolaus set a $330.00 target price on Apple in a report on Monday, March 2nd. Evercore restated an “outperform” rating and set a $365.00 target price on shares of Apple in a report on Thursday, May 14th. Finally, Bank of America upped their target price on Apple from $320.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $308.74.

Apple News Roundup

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

Apple Price Performance

Shares of AAPL stock opened at $308.82 on Friday. The stock has a market cap of $4.54 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06. The business’s fifty day moving average is $269.64 and its 200 day moving average is $268.63. Apple Inc. has a twelve month low of $193.46 and a twelve month high of $311.40. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 earnings per share. Research analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s payout ratio is currently 13.06%.

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.