HHM Wealth Advisors LLC Boosts Stake in Apple Inc. $AAPL

Key Points

• HHM Wealth Advisors LLC increased its Apple stake by 3.1% in the first quarter, adding 2,039 shares to reach 68,780 shares valued at about $17.46 million. Apple now represents roughly 2.0% of the firm’s portfolio and is its 8th-largest holding.
• Apple’s latest quarter beat expectations, reporting $2.01 EPS versus $1.95 expected and revenue of $111.18 billion versus $109.46 billion estimated. Revenue rose 16.6% year over year, and analysts now expect full-year EPS of 8.74.
• Analyst sentiment remains generally positive, but concerns are building around costs and execution. Morgan Stanley kept a Buy rating with a $360 target, while Apple also raised prices on some Mac and iPad models due to higher chip costs and lost a key Vision Pro hardware executive to OpenAI.

HHM Wealth Advisors LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,780 shares of the iPhone maker's stock after acquiring an additional 2,039 shares during the period. Apple makes up about 2.0% of HHM Wealth Advisors LLC's portfolio, making the stock its 8th biggest holding. HHM Wealth Advisors LLC's holdings in Apple were worth $17,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new stake in Apple during the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% in 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. Timmons Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter valued at approximately $69,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at approximately $65,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the 4th quarter worth approximately $76,000. 67.73% of the stock is currently owned by institutional investors.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Apple Price Performance

AAPL stock opened at $284.29 on Monday. The stock has a market cap of $4.18 trillion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 2.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The company has a 50 day simple moving average of $292.51 and a 200 day simple moving average of $273.17. Apple Inc. has a 1 year low of $199.26 and a 1 year high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The firm 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 company's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. Research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. 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. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 13.06%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 97,875 shares of company stock worth $24,998,541. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Monday, June 1st. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a research note on Monday, March 2nd. Tigress Financial reaffirmed a "strong-buy" rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, Oppenheimer reiterated a "market perform" rating on shares of Apple in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $314.85.

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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