Apple Inc. $AAPL is Windward Capital Management Co. CA’s Largest Position

Windward Capital Management Co. CA reduced its stake in Apple Inc. (NASDAQ:AAPL) by 3.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 776,677 shares of the iPhone maker’s stock after selling 28,517 shares during the quarter. Apple comprises about 16.7% of Windward Capital Management Co. CA’s portfolio, making the stock its largest holding. Windward Capital Management Co. CA’s holdings in Apple were worth $211,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Isthmus Partners LLC increased its holdings in Apple by 6.4% in the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after buying an additional 5,808 shares during the period. Sellwood Investment Partners LLC increased its holdings in Apple by 110.9% in the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after buying an additional 71 shares during the period. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the period. LSV Asset Management acquired a new position in Apple in the 4th quarter worth approximately $65,000. Finally, 49 Wealth Management LLC increased its holdings in Apple by 15.7% in the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock worth $76,000 after buying an additional 40,543 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple News Summary

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 Activity

In other news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% 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. Insiders sold 97,759 shares of company stock worth $24,964,305 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AAPL shares. Monness Crespi & Hardt increased their price target on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a report on Wednesday, March 4th. Moffett Nathanson increased their price target on shares of Apple from $241.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Friday, January 30th. Finally, Evercore reiterated an “outperform” rating and issued a $365.00 price target on shares of Apple in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $308.74.

Apple Price Performance

Shares of NASDAQ AAPL opened at $308.82 on Friday. The stock has a market capitalization of $4.54 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.66 and a beta of 1.06. Apple Inc. has a 12 month low of $193.46 and a 12 month high of $311.40. The firm’s 50 day simple moving average is $269.64 and its 200-day simple moving average is $268.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for 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 business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. Analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.3%. 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. Apple’s dividend payout ratio is 13.06%.

About Apple

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.