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

Key Points

• Xcel Wealth Management LLC trimmed its Apple stake by 6.6% in the first quarter, selling 3,321 shares and leaving it with 46,950 shares worth about $11.9 million. Apple still ranks as the firm’s 6th-largest holding and makes up 3.3% of its portfolio.
• Apple posted strong quarterly results, with earnings of $2.01 per share and revenue of $111.18 billion, both ahead of expectations. Revenue rose 16.6% year over year, and analysts now expect full-year EPS of 8.74.
• The company raised its dividend to $0.27 per share, up from $0.26 previously, while Wall Street remains broadly positive. Apple currently has a consensus rating of “Moderate Buy” with an average price target of $314.85.

Xcel Wealth Management LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,950 shares of the iPhone maker's stock after selling 3,321 shares during the period. Apple comprises 3.3% of Xcel Wealth Management LLC's investment portfolio, making the stock its 6th biggest holding. Xcel Wealth Management LLC's holdings in Apple were worth $11,915,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in Apple in the fourth quarter valued at $52,266,468,000. Nuveen LLC acquired a new stake in Apple in the first quarter valued at $17,472,482,000. Cardano Risk Management B.V. lifted its holdings in Apple by 890.7% during the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after buying an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after buying an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of 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. 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 1 year low of $201.50 and a 1 year high of $317.40. The firm has a market cap of $4.53 trillion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. Analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. Tigress Financial reiterated a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Monness Crespi & Hardt boosted 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. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Monday, June 1st. Barclays reiterated an "underweight" rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Apple in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $314.85.

Insider Buying and Selling

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business'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 value of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. The trade was 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. In the last quarter, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by company insiders.

Key Stories Impacting Apple

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

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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