Moran Wealth Management LLC Increases Holdings in Apple Inc. $AAPL

Key Points

• Moran Wealth Management LLC increased its Apple stake by 10.8% in the first quarter, adding 5,174 shares to bring its total to 52,920 shares valued at about $13.4 million.
• Apple reported stronger-than-expected quarterly results, posting $2.01 EPS versus the $1.95 estimate and $111.18 billion in revenue, while revenue rose 16.6% year over year.
• Apple’s stock has been strong recently, trading up 4.0% at $327.50 and near its 52-week high, with analysts maintaining a consensus rating of “Moderate Buy.”

Moran Wealth Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,920 shares of the iPhone maker's stock after purchasing an additional 5,174 shares during the quarter. Moran Wealth Management LLC's holdings in Apple were worth $13,431,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple during the fourth quarter valued at $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 period. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter worth $65,000. Timmons Wealth Management LLC acquired a new stake in Apple during the fourth quarter worth about $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple during the 4th quarter worth approximately $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. UBS Group set a $250.00 price target on shares of Apple in a report on Tuesday. Wedbush reaffirmed an "outperform" rating and set a $400.00 target price on shares of Apple in a report on Friday, June 5th. Morgan Stanley restated an "overweight" rating on shares of Apple in a research report on Friday, June 26th. Finally, Monness Crespi & Hardt boosted their price objective on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $314.26.

Apple Trading Up 4.0%

Shares of AAPL stock opened at $327.50 on Thursday. The stock has a 50-day simple moving average of $301.89 and a 200 day simple moving average of $276.27. The stock has a market capitalization of $4.81 trillion, a P/E ratio of 39.60, a P/E/G ratio of 2.74 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $328.73.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 business 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 for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. On average, sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction dated 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 directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. 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 have sold 2,924 shares of company stock worth $825,546 in the last 90 days. 0.06% of the stock is owned by company insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China's cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

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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