Janney Montgomery Scott LLC Has $1.22 Billion Stock Position in Apple Inc. $AAPL

Key Points

• Janney Montgomery Scott LLC increased its Apple stake by 1.8% in the first quarter, ending with 4.79 million shares valued at about $1.22 billion. Apple remains its largest holding, representing 3.0% of its portfolio.
• Apple reported strong quarterly results, with EPS of $2.01 and revenue of $111.18 billion, both ahead of analyst expectations. Revenue also rose 16.6% year over year.
• Wall Street remains broadly positive on Apple, with an average “Moderate Buy” rating and a consensus price target of $314.85. The stock recently traded near its 12-month high, while the company also raised its quarterly dividend to $0.27 per share.

Janney Montgomery Scott LLC increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,792,927 shares of the iPhone maker's stock after acquiring an additional 84,025 shares during the quarter. Apple makes up 3.0% of Janney Montgomery Scott LLC's holdings, making the stock its largest holding. Janney Montgomery Scott LLC's holdings in Apple were worth $1,216,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Overbrook Management Corp boosted its position in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. lifted its holdings in shares of Apple by 14.1% during the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock valued at $6,189,000 after buying an additional 3,014 shares during the last quarter. Torren Management LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $1,178,000. Summit Wealth Partners LLC grew its stake in shares of Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock valued at $8,880,000 after buying an additional 18,188 shares in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in Apple during the fourth quarter valued at approximately $105,482,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s expanded chip partnership with Broadcom through 2031 is a bullish signal for Apple’s AI infrastructure and next-generation devices, reinforcing confidence in the company’s long-term product roadmap and supplier relationships.
• Positive Sentiment: Reports about a foldable iPhone, an iPhone Ultra, and major 2027 updates for iPad Pro and MacBook Pro suggest Apple has fresh hardware catalysts ahead, which could support future upgrade cycles and revenue growth.
• Positive Sentiment: Apple’s latest iOS 27 beta additions, including more Siri customization and new Apple Intelligence home features, highlight continued AI feature rollout that may improve services monetization and ecosystem stickiness.
• Neutral Sentiment: Several articles argue Apple may be “already priced in” after its recent rally, implying the market is increasingly focused on execution rather than just announcements.
• Neutral Sentiment: Commentary on Apple stock after its recent pullback suggests long-term investors may view weakness as a buying opportunity, but this is more a valuation debate than a direct business development.
• Negative Sentiment: One article said Apple used steep iPhone discounts during China’s 618 shopping festival to regain the No. 2 smartphone spot, but sales still fell, underscoring ongoing competitive pressure and softer demand in a key market.
• Negative Sentiment: Analyst commentary also warned that the first foldable iPhone could face supply constraints or delayed availability, which could push out any revenue lift from that product launch.

Insider Activity

In related news, CFO Kevan Parekh sold 1,534 shares of the company's 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 owned 13,366 shares of the company's stock, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. 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. Over the last quarter, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on AAPL shares. KeyCorp reissued a "sector weight" rating on shares of Apple in a research report on Tuesday, June 9th. BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective for the company in a report on Friday, April 17th. Citigroup restated a "buy" rating on shares of Apple in a report on Monday, June 1st. Monness Crespi & Hardt upped their price target on Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, Wedbush reissued an "outperform" rating and issued a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $314.85.

Apple Stock Performance

Shares of AAPL traded down $0.60 on Tuesday, reaching $312.06. 4,675,987 shares of the stock traded hands, compared to its average volume of 50,389,621. The stock's 50-day moving average price is $295.25 and its 200-day moving average price is $273.84. 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 firm has a market cap of $4.58 trillion, a price-to-earnings ratio of 37.72, a P/E/G ratio of 2.68 and a beta of 1.10. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last posted 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 firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.65 earnings per share. Equities analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. This is an increase from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's dividend payout ratio (DPR) is presently 13.06%.

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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