Ironwood Wealth Management LLC. Sells 5,477 Shares of Apple Inc. $AAPL

Ironwood Wealth Management LLC. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 150,598 shares of the iPhone maker’s stock after selling 5,477 shares during the quarter. Apple comprises 11.0% of Ironwood Wealth Management LLC.’s portfolio, making the stock its 2nd largest holding. Ironwood Wealth Management LLC.’s holdings in Apple were worth $38,220,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Warren Street Wealth Advisors LLC increased its stake in shares of Apple by 4.4% during the first quarter. Warren Street Wealth Advisors LLC now owns 18,602 shares of the iPhone maker’s stock worth $4,721,000 after buying an additional 785 shares during the period. Smith Salley Wealth Management lifted its stake in Apple by 0.6% in the first quarter. Smith Salley Wealth Management now owns 416,451 shares of the iPhone maker’s stock worth $105,691,000 after acquiring an additional 2,469 shares during the last quarter. Upper Left Wealth Management LLC purchased a new position in Apple in the first quarter worth approximately $204,000. Southern Capital Advisors LLC grew its holdings in Apple by 1.2% during the 1st quarter. Southern Capital Advisors LLC now owns 20,591 shares of the iPhone maker’s stock worth $5,226,000 after acquiring an additional 251 shares in the last quarter. Finally, True Vision MN LLC grew its holdings in Apple by 4.2% during the 1st quarter. True Vision MN LLC now owns 3,378 shares of the iPhone maker’s stock worth $857,000 after acquiring an additional 135 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Maxim Group restated a “buy” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Wedbush reissued an “outperform” rating and issued a $400.00 target price on shares of Apple in a report on Friday, June 5th. Robert W. Baird set a $310.00 price target on Apple in a report on Friday, May 1st. Finally, UBS Group reissued a “buy” rating on shares of Apple in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple Stock Performance

Shares of Apple stock opened at $316.16 on Friday. The firm’s fifty day simple moving average is $298.65 and its 200-day simple moving average is $274.97. The stock has a market capitalization of $4.64 trillion, a price-to-earnings ratio of 38.23, a PEG ratio of 2.73 and a beta of 1.10. Apple Inc. has a 12 month low of $201.50 and a 12 month 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) last issued 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 EPS. Apple’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current 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 paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider 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. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
• Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
• Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
• Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
• Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
• Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title

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.