Covenant Asset Management LLC Has $21.16 Million Stock Holdings in Apple Inc. $AAPL

Covenant Asset Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,084 shares of the iPhone maker’s stock after selling 3,857 shares during the quarter. Apple makes up about 2.4% of Covenant Asset Management LLC’s portfolio, making the stock its 4th largest position. Covenant Asset Management LLC’s holdings in Apple were worth $21,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the last quarter. Nexus Investment Management ULC lifted its position in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after acquiring an additional 200 shares in the last quarter. LSV Asset Management acquired a new position in Apple during the 4th quarter valued at about $65,000. Morgan Dempsey Capital Management LLC increased its holdings in Apple by 41.0% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 430 shares of the iPhone maker’s stock worth $88,000 after purchasing an additional 125 shares in the last quarter. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Apple in the first quarter worth approximately $99,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AAPL shares. TD Cowen reiterated a “buy” rating and set a $325.00 price target on shares of Apple in a report on Friday, January 30th. Wells Fargo & Company set a $300.00 price objective on shares of Apple and gave the stock an “overweight” rating in a report on Friday, October 31st. Stephens set a $315.00 target price on shares of Apple in a research note on Monday, January 26th. Evercore reissued an “outperform” rating on shares of Apple in a research report on Monday, February 2nd. Finally, Bank of America boosted their price target on shares of Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $292.13.

Apple Trading Up 0.2%

NASDAQ:AAPL opened at $264.35 on Thursday. The firm’s 50 day moving average is $265.62 and its 200 day moving average is $256.97. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The stock has a market capitalization of $3.88 trillion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 2.35 and a beta of 1.09. The company has a current ratio of 0.97, a quick ratio of 0.94 and a debt-to-equity ratio of 0.87.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 29th. The iPhone maker reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.17. Apple had a return on equity of 159.94% and a net margin of 27.04%.The business had revenue of $143.76 billion during the quarter, compared to the consensus estimate of $138.25 billion. During the same period last year, the business posted $2.40 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 9th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, February 9th. Apple’s dividend payout ratio (DPR) is currently 13.15%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple is accelerating development of three AI wearables (smart glasses, an AI pendant and camera-equipped AirPods) are being priced as a new growth path beyond the iPhone — a potential high‑margin ecosystem extension that traders rewarded. Apple is reportedly cooking up a trio of AI wearables
• Positive Sentiment: Street bullishness remains: Wedbush and other bullish analysts reiterated high price targets (e.g., $350), and commentators argue Apple’s measured AI approach could unlock substantial value — supporting upside sentiment despite recent volatility. Dan Ives Says Apple’s AI Alone Could Be Worth $1.5 Trillion
• Positive Sentiment: Upcoming March 4 product event and strong Q1 results (record revenue / iPhone strength) give investors a near-term catalyst and sentiment support ahead of new-device reveals. Apple Gears Up For ‘Special Experience’ Event On March 4: Here’s What To Expect
• Neutral Sentiment: Macro/positioning notes — Apple’s correlation with the Nasdaq has fallen to multi‑decade lows, which can make it a relative “safe-haven” inside big tech but also means different performance drivers than pure AI plays. Apple’s AI Strategy Offers Alternative for Investors
• Neutral Sentiment: Product extensions (Apple Pay installments; car keys expanding to Toyota) are incremental service/UX positives but unlikely to move the needle alone. Apple Set to Bring Car Keys Function to Toyota Vehicles
• Negative Sentiment: Berkshire Hathaway trimmed its Apple stake in the latest 13F — continuing a multi‑quarter pattern of selling. Large‑holder trimming, even if incremental, can pressure sentiment and headline-driven flows. Berkshire & AI Hyperscalers: Buffett Holds GOOGL, Dumps AMZN
• Negative Sentiment: Investor anxiety about delayed Siri upgrades, reported regulatory scrutiny and recent insider selling have driven part of the recent pullback — these are the main negative narratives investors cite when selling into volatility. Apple’s $2.84 Earnings Beat Can’t Overcome Siri Delay 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.