Petra Financial Advisors Inc. Sells 1,778 Shares of Apple Inc. $AAPL

Petra Financial Advisors Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 57.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the iPhone maker’s stock after selling 1,778 shares during the period. Petra Financial Advisors Inc.’s holdings in Apple were worth $330,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First National Bank of Hutchinson grew its stake 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 worth $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC increased its holdings in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC raised its position in 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 last quarter. Revolve Wealth Partners LLC raised its position in 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 last quarter. Finally, Highview Capital Management LLC DE lifted its holdings in 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 during the period. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 0.3%

Shares of Apple stock opened at $313.33 on Friday. Apple Inc. has a one year low of $219.25 and a one year high of $344.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The stock’s 50-day moving average is $309.45 and its 200 day moving average is $283.23. The firm has a market cap of $4.57 trillion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.68 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. Equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is 12.39%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. Evercore reiterated an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. Wells Fargo & Company restated an “overweight” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Friday, July 31st. Citigroup reaffirmed a “buy” rating and issued a $365.00 price objective (up from $315.00) on shares of Apple in a research note on Monday, July 13th. Barclays reiterated an “underweight” rating and issued a $245.00 target price (down from $253.00) on shares of Apple in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Apple from $345.00 to $340.00 and set an “overweight” rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $330.44.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook’s Last Quarter as CEO Was Apple’s Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple’s Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple’s Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

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.