Apple Inc. $AAPL Shares Sold by First Financial Group Corp

First Financial Group Corp decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 8.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,945 shares of the iPhone maker’s stock after selling 1,747 shares during the period. Apple comprises about 4.6% of First Financial Group Corp’s portfolio, making the stock its 6th biggest holding. First Financial Group Corp’s holdings in Apple were worth $5,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC grew its holdings in Apple by 29.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 69,291 shares of the iPhone maker’s stock valued at $18,837,000 after purchasing an additional 15,620 shares during the last quarter. Fischer Investment Strategies LLC grew its position in Apple by 16.6% during the fourth quarter. Fischer Investment Strategies LLC now owns 3,992 shares of the iPhone maker’s stock worth $1,085,000 after buying an additional 567 shares in the last quarter. Diversified Enterprises LLC boosted its stake in Apple by 22.2% during the fourth quarter. Diversified Enterprises LLC now owns 102,542 shares of the iPhone maker’s stock worth $27,877,000 after buying an additional 18,618 shares in the last quarter. Kerusso Capital Management LLC boosted its holdings in Apple by 31.8% during the fourth quarter. Kerusso Capital Management LLC now owns 25,364 shares of the iPhone maker’s stock valued at $6,895,000 after purchasing an additional 6,119 shares in the last quarter. Finally, REDW Wealth LLC boosted its holdings in Apple by 1.5% during the fourth quarter. REDW Wealth LLC now owns 13,504 shares of the iPhone maker’s stock valued at $3,671,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Key Stories Impacting Apple

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

Apple Trading Up 1.3%

AAPL opened at $308.82 on Friday. The company’s 50 day moving average is $269.64 and its 200-day moving average is $268.63. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 1-year low of $193.46 and a 1-year high of $311.40. The company has a market cap of $4.54 trillion, a P/E ratio of 37.34, a PEG ratio of 2.66 and a beta of 1.06.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared 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 represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio is presently 13.06%.

Analyst Ratings Changes

Several research analysts recently issued reports on AAPL shares. KGI Securities upgraded shares of Apple to an “outperform” rating and set a $306.00 price target on the stock in a research report on Friday, January 30th. Stephens set a $315.00 price target on Apple in a research note on Monday, January 26th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research note on Wednesday, March 4th. Wells Fargo & Company restated an “overweight” rating and set a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $330.00 price target (up from $315.00) on shares of Apple in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $308.74.

Insider Transactions at Apple

In related news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 over the last quarter. 0.06% of the stock is owned by company insiders.

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.