Apple Inc. $AAPL is Westmount Partners LLC’s Largest Position

Westmount Partners LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,733 shares of the iPhone maker’s stock after buying an additional 2,688 shares during the period. Apple comprises about 10.8% of Westmount Partners LLC’s holdings, making the stock its largest position. Westmount Partners LLC’s holdings in Apple were worth $43,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. First National Bank of Hutchinson raised its holdings in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC grew its position 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 grew its position 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 increased 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 valued at $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position 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 buying an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street’s Leaning Into Apple’s New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory’s price surge threatens Apple’s ‘magic formula’ — and the economy

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AAPL shares. Stifel Nicolaus set a $330.00 target price on Apple in a research note on Monday, March 2nd. Robert W. Baird set a $310.00 price target on Apple in a report on Friday, May 1st. DA Davidson reissued a “neutral” rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Monness Crespi & Hardt upped their price objective on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $314.85.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the transaction, the senior vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 97,875 shares of company stock worth $24,998,541. Insiders own 0.06% of the company’s stock.

Apple Trading Down 0.7%

NASDAQ:AAPL opened at $294.98 on Wednesday. Apple Inc. has a 12 month low of $199.26 and a 12 month high of $317.40. 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’s 50 day moving average is $291.15 and its 200 day moving average is $273.06. The stock has a market capitalization of $4.33 trillion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the company earned $1.65 earnings per share. Apple’s revenue was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s dividend 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.