TLDR
- MOR Wealth Management bought 26,685 AAPL worth ~$7.26M, making it 3.3% of the firm’s portfolio
- CEO Tim Cook sold ~$16.5M in stock and SVP Deirdre O’Brien sold ~$7.66M, both under Rule 10b5-1 plans
- Apple beat Q1 EPS estimates ($2.84 vs $2.67) and posted $143.76B in revenue, up 15.7% year-over-year
- AAPL opened at $260.49 on Friday, within a 12-month range of $183.00â$288.62
- Wall Street consensus sits at “Moderate Buy” with an average price target of $301.23
MOR Wealth Management LLC picked up a new position in Apple (AAPL) during Q4, buying 26,685 stock units valued at roughly $7.26 million. The position now makes up 3.3% of the firm’s total portfolio, ranking it as the 8th-largest holding.
Several other institutions have also been active. Sellwood Investment Partners increased its AAPL stake by 110.9% in Q3, while ROSS JOHNSON & Associates grew its position by 1,800% in Q1. LSV Asset Management, HFM Investment Advisors, and Miller Global Investments all opened new positions in recent quarters. In total, institutional investors and hedge funds now own 67.73% of AAPL.
On the other side, two senior executives sold stock on April 2nd. CEO Timothy Cook offloaded 64,949 units at an average of $254.23, totalling $16.51 million. Following the sale, Cook still holds 3.28 million units, worth roughly $834 million. SVP Deirdre O’Brien sold 30,002 units at $255.35, bringing in $7.66 million. Her sale represented a 17.99% reduction in her holdings. Both transactions were carried out under pre-arranged Rule 10b5-1 trading plans.
Strong Quarter Backs Bullish Analyst View
Apple’s most recent earnings report, released January 29th, came in ahead of expectations. The company posted EPS of $2.84, beating the consensus estimate of $2.67 by $0.17. Revenue hit $143.76 billion, topping the $138.25 billion estimate by a wide margin and marking a 15.7% jump compared to the same quarter last year. Net margin stood at 27.04%, with a return on equity of 159.94%.
Analysts predict full-year EPS of $7.28 for the current fiscal year. Apple also paid a quarterly dividend of $0.26 per unit on February 12th, representing an annualised yield of 0.4%.
Analyst coverage is broadly positive, though mixed. TD Cowen has a “buy” rating with a $325 target. KGI Securities upgraded to “outperform” with a $306 target. Raymond James, DA Davidson, and UBS all rate the stock neutral. Of 36 analysts tracked by MarketBeat, 23 rate it buy or strong buy, 12 hold, and one sell. The consensus target sits at $301.23.
Product and Market Signals
On the product side, iPhone 17 sales are said to be tracking ahead of prior models, and Mac lead times have been lengthening â both pointing to continued hardware demand. Reports of a foldable iPhone have generated some noise, with leaks of engineering setbacks earlier causing a dip, though follow-up reports have been mixed on timing.
AAPL opened Friday at $260.49. The stock’s 50-day moving average is $260.74 and its 200-day is $263.70. The 12-month range runs from $183.00 to $288.62. Market cap is $3.82 trillion, with a P/E of 32.93 and a beta of 1.11.
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