Apple Inc. $AAPL is Key Financial Inc's Largest Position

Key Points

• Key Financial Inc increased its Apple holdings by 6.5% in the first quarter, making Apple its largest position at about 4.7% of the portfolio. The stake was valued at roughly $26.26 million after buying 6,327 more shares.
• Apple reported strong quarterly results, with earnings per share of $2.01 beating estimates and revenue of $111.18 billion topping expectations. Revenue rose 16.6% year over year, and the company also has a consensus Moderate Buy rating from analysts.
• The company recently raised its quarterly dividend to $0.27 per share from $0.26, while insiders continued to sell shares. Apple stock was also trading near its 1-year high, reflecting ongoing investor confidence despite a small daily decline.

Key Financial Inc lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,472 shares of the iPhone maker's stock after buying an additional 6,327 shares during the quarter. Apple makes up approximately 4.7% of Key Financial Inc's investment portfolio, making the stock its largest position. Key Financial Inc's holdings in Apple were worth $26,260,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. acquired a new position in Apple in the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC grew its stake in 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. Timmons Wealth Management LLC purchased a new position in Apple in the 4th quarter worth approximately $69,000. LSV Asset Management purchased a new position in Apple in the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC purchased a new stake in shares of Apple in the fourth quarter valued at approximately $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Apple news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevan Parekh sold 1,534 shares of the business'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 completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.3%

AAPL stock traded down $0.90 during midday trading on Friday, hitting $315.32. 34,104,441 shares of the company's stock were exchanged, compared to its average volume of 60,736,044. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. 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 stock has a market capitalization of $4.63 trillion, a PE ratio of 38.13, a P/E/G ratio of 2.74 and a beta of 1.10. The business has a 50-day simple moving average of $299.55 and a two-hundred day simple moving average of $275.26.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The business 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 company's revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 EPS. On average, sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

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

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 9th. Evercore restated an "outperform" rating on shares of Apple in a report on Wednesday. Jefferies Financial Group reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. TD Cowen boosted their price target on shares of Apple from $335.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.85.

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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