Apple Inc. $AAPL is Ritholtz Wealth Management's 6th Largest Position

Key Points

• Ritholtz Wealth Management increased its Apple stake by 11.5% in the first quarter, ending with 650,779 shares worth about $165.2 million. Apple is now the fund’s 6th-largest position and makes up roughly 2.9% of its portfolio.
• Apple reported better-than-expected quarterly results, posting EPS of $2.01 versus estimates of $1.95 and revenue of $111.18 billion versus $109.46 billion expected. Revenue rose 16.6% year over year, and analysts still expect 8.74 EPS for the current fiscal year.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, bringing the annualized payout to $1.08 and the yield to 0.4%. Meanwhile, analysts remain broadly constructive, with a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Ritholtz Wealth Management grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 650,779 shares of the iPhone maker's stock after acquiring an additional 67,172 shares during the quarter. Apple comprises approximately 2.9% of Ritholtz Wealth Management's investment portfolio, making the stock its 6th biggest position. Ritholtz Wealth Management's holdings in Apple were worth $165,161,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Isthmus Partners LLC boosted its holdings in Apple by 6.4% in the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after purchasing an additional 5,808 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple during the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC raised its position 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 buying an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at approximately $65,000. Finally, Timmons Wealth Management LLC acquired a new position in Apple in the fourth quarter valued at approximately $69,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ:AAPL opened at $294.38 on Thursday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The company has a fifty day simple moving average of $293.69 and a two-hundred day simple moving average of $273.39. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.32 trillion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 2.52 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for 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 for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.4%. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is 13.06%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: UBS said iPhone demand is improving in key markets, though it does not appear to be driven by Apple Intelligence. Apple’s (AAPL) iPhone Demand Is Improving, But AI Isn’t The Reason Why
• Positive Sentiment: Several articles highlighted Apple as a favored large-cap name, with bullish pieces citing seasonal strength, Warren Buffett-style appeal, and strong long-term fundamentals. This Stock is My Biggest Bet For July
• Neutral Sentiment: Apple’s AI expansion remains a focus, with reports saying the company is weaving AI deeper into services and hardware, but competition from Alphabet and Microsoft keeps expectations in check. Apple's AI Expansion Aims to Boost Services Momentum: What's Ahead?
• Negative Sentiment: Apple is dealing with a reported memory-chip crunch that has already forced price increases on some products, which could pressure margins and demand if costs stay elevated. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Negative Sentiment: Supply-chain and cybersecurity concerns also weighed on sentiment after reports of a Tata Electronics breach exposed confidential iPhone 18 Pro-related information. Apple’s China Memory Push Could Be a Win for AAPL Stock
• Negative Sentiment: Regulatory pressure remains a risk, with Russia warning of a possible fine and the U.K. CMA targeting Apple’s App Store payment rules, which could eventually hit services revenue. Russia warns Apple of $52 million fine over alleged bias against local apps

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Monness Crespi & Hardt raised their target price on Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. UBS Group reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. Tigress Financial reissued a "strong-buy" rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. KeyCorp restated a "sector weight" rating on shares of Apple in a report on Tuesday, June 9th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $400.00 target price on shares of Apple in a research report on Friday, June 5th. 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 issued a Sell rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.85.

Insider Activity

In other news, insider Ben Borders sold 1,274 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,924 shares of company stock valued at $825,546 in the last quarter. Company insiders own 0.06% of the company's stock.

Apple Company 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.

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