Montrusco Bolton Investments Inc. Trims Stake in Apple Inc. $AAPL

Montrusco Bolton Investments Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 15.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 793,410 shares of the iPhone maker’s stock after selling 139,617 shares during the quarter. Apple makes up about 2.7% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 13th biggest position. Montrusco Bolton Investments Inc.’s holdings in Apple were worth $215,696,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. First National Bank of Hutchinson lifted its stake in Apple by 24.6% in 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 in the last quarter. Eagle Capital Management LLC lifted its stake 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 worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC lifted its stake 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 worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC lifted its stake 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 worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE lifted its stake 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 worth $12,587,000 after purchasing an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Up 1.3%

Shares of AAPL opened at $308.82 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $4.54 trillion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.06. The stock’s fifty day simple moving average is $269.64 and its 200 day simple moving average is $268.63. Apple Inc. has a twelve month low of $193.46 and a twelve month high of $311.40.

Apple (NASDAQ:AAPL) last issued its 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 business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. On average, equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current 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 given a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio is 13.06%.

Analyst Ratings Changes

A number of research analysts have weighed in on AAPL shares. Phillip Securities raised Apple from a “moderate sell” rating to a “hold” rating in a research note on Sunday, February 1st. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research note on Monday, March 2nd. Barclays reissued an “underweight” rating and set a $253.00 price target (up from $248.00) on shares of Apple in a research note on Friday, May 1st. DA Davidson reissued a “neutral” rating and set a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Finally, Stifel Nicolaus set a $330.00 price target on Apple in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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

Insider Transactions at Apple

In related news, 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 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 can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 97,759 shares of company stock valued at $24,964,305. Corporate insiders own 0.06% of the company’s stock.

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.