Greenwood Capital Associates LLC Has $35.80 Million Holdings in Apple Inc. $AAPL

Greenwood Capital Associates LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,056 shares of the iPhone maker’s stock after selling 5,937 shares during the period. Apple makes up about 3.9% of Greenwood Capital Associates LLC’s investment portfolio, making the stock its 2nd biggest position. Greenwood Capital Associates LLC’s holdings in Apple were worth $35,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sageworth Trust Co boosted its stake in Apple by 51.9% in the first quarter. Sageworth Trust Co now owns 18,891 shares of the iPhone maker’s stock valued at $4,794,000 after acquiring an additional 6,451 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of Apple by 0.7% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,424 shares of the iPhone maker’s stock valued at $4,168,000 after acquiring an additional 114 shares during the last quarter. Sageworth Trust Co of South Dakota bought a new stake in shares of Apple during the 1st quarter valued at $448,000. Frank Rimerman Advisors LLC lifted its stake in shares of Apple by 1.4% in the 1st quarter. Frank Rimerman Advisors LLC now owns 286,398 shares of the iPhone maker’s stock valued at $72,685,000 after purchasing an additional 4,072 shares during the period. Finally, Quantum Portfolio Management LLC lifted its stake in shares of Apple by 0.5% in the 1st quarter. Quantum Portfolio Management LLC now owns 50,436 shares of the iPhone maker’s stock valued at $12,800,000 after purchasing an additional 235 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Trading Up 0.4%

Shares of NASDAQ AAPL opened at $327.74 on Wednesday. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $334.99. The stock has a market cap of $4.81 trillion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 2.84 and a beta of 1.10. 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’s fifty day moving average is $304.95 and its 200-day moving average is $277.89.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. Equities research analysts predict that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is presently 13.06%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAPL shares. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. Royal Bank Of Canada set a $365.00 price objective on Apple in a report on Wednesday, July 15th. Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. Maxim Group restated a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Finally, Citigroup restated a “buy” rating and set a $365.00 target price (up from $315.00) on shares of Apple in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.71.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

Insider Activity

In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,924 shares of company stock valued at $825,546 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.