Apple Inc. $AAPL Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,802 shares of the iPhone maker’s stock after selling 3,935 shares during the quarter. Apple makes up about 1.7% of TCI Wealth Advisors Inc.’s investment portfolio, making the stock its 14th biggest holding. TCI Wealth Advisors Inc.’s holdings in Apple were worth $31,674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Overbrook Management Corp grew its position in Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. raised its holdings in shares of Apple by 14.1% during the first 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 acquired a new position in shares of Apple during the fourth quarter worth approximately $1,178,000. Summit Wealth Partners LLC boosted its position in shares of Apple by 108.3% during the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after buying an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in Apple in the 4th quarter worth approximately $105,482,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 4.0%

AAPL stock opened at $327.50 on Thursday. 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 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. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $328.73. The company’s 50 day simple moving average is $301.89 and its 200-day simple moving average is $276.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the previous year, the company posted $1.65 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is presently 13.06%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Apple in a research report on Friday, June 5th. UBS Group set a $250.00 price objective on Apple in a report on Tuesday. Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Evercore reiterated an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. Finally, BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $314.26.

Apple News Summary

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

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 1,534 shares of the company’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 transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,924 shares of company stock worth $825,546 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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.