Apple Inc. $AAPL is Ironwood Wealth Management LLC.'s 2nd Largest Position

Key Points

• Ironwood Wealth Management trimmed its Apple stake by 3.5% in the first quarter but still holds 150,598 shares worth about $38.2 million. Apple remains its second-largest position and makes up roughly 11% of the portfolio.
• Apple’s latest earnings beat expectations, with EPS of $2.01 versus the $1.95 consensus and revenue of $111.18 billion, up 16.6% year over year. The company also raised its quarterly dividend to $0.27 per share.
• Analysts remain broadly constructive on AAPL, with an average price target of $314.85 and a consensus rating of Moderate Buy. Recent commentary also highlights strong institutional ownership and upbeat catalysts such as Apple’s Broadcom chip partnership, though regulatory pressure in Europe remains a risk.

Ironwood Wealth Management LLC. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,598 shares of the iPhone maker's stock after selling 5,477 shares during the quarter. Apple makes up about 11.0% of Ironwood Wealth Management LLC.'s portfolio, making the stock its 2nd biggest holding. Ironwood Wealth Management LLC.'s holdings in Apple were worth $38,220,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAPL. Lifetime Wealth Management P.C. purchased a new position in Apple in the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $69,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter valued at $65,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the 4th quarter worth $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Tigress Financial reissued a "strong-buy" rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research report on Friday, June 26th. Wedbush reiterated an "outperform" rating and issued a $400.00 price objective on shares of Apple in a report on Friday, June 5th. Wells Fargo & Company reiterated an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $314.85.

Apple Stock Performance

Shares of AAPL stock opened at $316.16 on Friday. The firm's 50 day moving average price is $298.65 and its 200-day moving average price is $274.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a one year low of $201.50 and a one year high of $317.40. The firm has a market cap of $4.64 trillion, a P/E ratio of 38.23, a P/E/G ratio of 2.73 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.3%. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is presently 13.06%.

Insider Activity

In related news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction that occurred 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. This represents a 10.30% decrease in their position. The sale was disclosed in a filing 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 stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,924 shares of company stock worth $825,546 in the last three months. Corporate insiders own 0.06% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
• Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
• Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
• Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
• Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
• Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title

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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