Maridea Wealth Management LLC Boosts Stock Holdings in Apple Inc. $AAPL

Key Points

• Maridea Wealth Management increased its Apple stake by 12.7% in the first quarter, buying 3,461 more shares and bringing its total to 30,809 shares worth about $7.8 million.
• Apple reported strong quarterly results, with earnings of $2.01 per share and revenue of $111.18 billion, both ahead of analyst expectations. Revenue also rose 16.6% year over year.
• The company recently raised its quarterly dividend to $0.27 per share from $0.26, while analysts currently maintain a Moderate Buy consensus with an average price target of $314.85.

Maridea Wealth Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,809 shares of the iPhone maker's stock after purchasing an additional 3,461 shares during the period. Apple comprises approximately 1.1% of Maridea Wealth Management LLC's holdings, making the stock its 17th largest position. Maridea Wealth Management LLC's holdings in Apple were worth $7,819,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Laurel Oak Wealth Management LLC increased its position in Apple by 2.8% during the 1st quarter. Laurel Oak Wealth Management LLC now owns 167,591 shares of the iPhone maker's stock worth $42,533,000 after purchasing an additional 4,510 shares during the period. Crown Wealth Group LLC lifted its holdings in shares of Apple by 3.4% in the 1st quarter. Crown Wealth Group LLC now owns 32,898 shares of the iPhone maker's stock valued at $8,349,000 after buying an additional 1,069 shares during the period. Fullerton Advisors LLC lifted its holdings in shares of Apple by 15.8% in the 1st quarter. Fullerton Advisors LLC now owns 3,404 shares of the iPhone maker's stock valued at $864,000 after buying an additional 465 shares during the period. Sugar Maple Asset Management LLC boosted its stake in shares of Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after buying an additional 40 shares in the last quarter. Finally, Next Level Wealth Planning LLC boosted its stake in shares of Apple by 3.4% in the first quarter. Next Level Wealth Planning LLC now owns 9,615 shares of the iPhone maker's stock valued at $2,440,000 after buying an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ AAPL opened at $308.63 on Friday. The business has a 50 day moving average price of $295.25 and a 200 day moving average price of $273.85. The company has a market capitalization of $4.53 trillion, a P/E ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for 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%.Apple's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. Sell-side analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a boost 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 0.3%. Apple's dividend payout ratio is presently 13.06%.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ben Borders sold 116 shares of Apple 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 transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. The trade was 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 worth $825,546 over the last quarter. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on AAPL. DA Davidson reiterated a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $310.00 price target (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Jefferies Financial Group reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Finally, Robert W. Baird set a $310.00 price objective on shares of Apple in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.85.

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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