VCI Wealth Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,355 shares of the iPhone maker’s stock after selling 3,406 shares during the quarter. Apple comprises 4.0% of VCI Wealth Management LLC’s portfolio, making the stock its 5th biggest position. VCI Wealth Management LLC’s holdings in Apple were worth $14,556,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Isthmus Partners LLC increased its position in shares of Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after acquiring an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at $65,000. Finally, Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at $69,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
- Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
- Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
- Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
- Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
- Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand
Insider Transactions at Apple
Wall Street Analyst Weigh In
AAPL has been the subject of several analyst reports. KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, June 22nd. TD Cowen boosted their price target on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Wells Fargo & Company restated an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. Wedbush reiterated an “outperform” rating and set a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. Finally, Citigroup reissued a “buy” rating on shares of Apple in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.85.
View Our Latest Research Report on Apple
Apple Price Performance
AAPL stock opened at $308.63 on Friday. The stock’s 50 day moving average is $295.25 and its two-hundred day moving average is $273.85. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $317.40. The company has a market capitalization of $4.53 trillion, a PE ratio of 37.32, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. Analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 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.
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