Apple Inc. $AAPL Stake Lowered by VCI Wealth Management LLC

Key Points

• VCI Wealth Management trimmed its Apple stake by 5.6% in the first quarter, selling 3,406 shares and leaving it with 57,355 shares worth about $14.6 million.
• Apple reported strong fiscal Q2 results, posting EPS of $2.01 and revenue of $111.18 billion, both ahead of analyst estimates, with quarterly revenue up 16.6% year over year.
• Wall Street remains largely bullish on Apple, with a Moderate Buy consensus and a mean price target of $314.85, while analysts continue to cite upside from product momentum and growth expectations.

VCI Wealth Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,355 shares of the iPhone maker's stock after selling 3,406 shares during the period. Apple makes up 4.0% of VCI Wealth Management LLC's investment portfolio, making the stock its 5th largest holding. VCI Wealth Management LLC's holdings in Apple were worth $14,556,000 as of its most recent filing with the Securities & Exchange Commission.

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

Apple Stock Performance

Apple stock opened at $308.63 on Friday. The stock has a 50-day moving average price of $295.25 and a 200 day moving average price of $273.85. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The stock has a market cap of $4.53 trillion, a PE ratio of 37.32, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 company 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%. The firm's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. Equities research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal 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 paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is presently 13.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reissued a "buy" rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a report on Monday, June 8th. Monness Crespi & Hardt lifted their target price on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target on the stock in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $314.85.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction 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. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction 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 approximately $11,425,754.82. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,924 shares of company stock valued at $825,546 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Key Apple News

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 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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