CFO Capital Management LLC Invests $11.66 Million in Apple Inc. $AAPL

CFO Capital Management LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, Holdings Channel reports. The firm purchased 42,877 shares of the iPhone maker’s stock, valued at approximately $11,657,000. Apple comprises about 8.7% of CFO Capital Management LLC’s holdings, making the stock its largest holding.

Other large investors also recently bought and sold shares of the company. Isthmus Partners LLC boosted its position in shares of Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after acquiring an additional 5,808 shares during the last quarter. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the 1st 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 period. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at approximately $65,000. Timmons Wealth Management LLC acquired a new stake in Apple during the fourth quarter worth $69,000. Finally, Inspire Investing LLC purchased a new stake in Apple in the fourth quarter valued at $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 30,002 shares of Apple stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 97,875 shares of company stock worth $24,998,541. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $298.01 on Monday. Apple Inc. has a 1 year low of $196.85 and a 1 year high of $317.40. The stock has a market capitalization of $4.38 trillion, a PE ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a 50-day simple moving average of $289.73 and a 200-day simple moving average of $272.91.

Apple (NASDAQ:AAPL) last released its 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. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. On average, analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared 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 is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Evercore reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Friday, April 17th. Morgan Stanley set a $325.00 price target on shares of Apple in a research report on Tuesday, June 9th. Finally, Oppenheimer restated a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.59.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. 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.