Apple Inc. $AAPL Stake Lowered by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 3.1% during the first quarter, HoldingsChannel reports. The fund owned 124,802 shares of the iPhone maker’s stock after selling 3,935 shares during the quarter. Apple comprises approximately 1.7% of TCI Wealth Advisors Inc.’s holdings, making the stock its 14th biggest position. TCI Wealth Advisors Inc.’s holdings in Apple were worth $31,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in Apple in the fourth quarter worth approximately $65,000. Timmons Wealth Management LLC bought a new stake in Apple in the fourth quarter worth approximately $69,000. Finally, 49 Wealth Management LLC increased its stake in shares of Apple by 15.7% during the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock worth $76,000 after purchasing an additional 40,543 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of the stock in a transaction that occurred 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 sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of Apple stock opened at $327.50 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $301.89 and a 200-day simple moving average of $276.27. The stock has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 39.60, a PEG ratio of 2.74 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $328.73.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. On average, sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. 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. Apple’s dividend payout ratio (DPR) is 13.06%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price target on the stock. in a report on Tuesday. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Bank of America reissued a “buy” rating and set a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. Royal Bank Of Canada set a $365.00 target price on Apple in a report on Wednesday. Finally, Monness Crespi & Hardt boosted their price target on Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $314.26.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China’s cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

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.