Apple Inc. $AAPL is Cvfg LLC’s 6th Largest Position

Cvfg LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 154.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 81,665 shares of the iPhone maker’s stock after acquiring an additional 49,606 shares during the period. Apple accounts for approximately 2.6% of Cvfg LLC’s portfolio, making the stock its 6th largest holding. Cvfg LLC’s holdings in Apple were worth $20,726,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC grew its holdings in 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 in the last quarter. LSV Asset Management bought a new stake in shares of Apple during the fourth quarter valued at about $65,000. Timmons Wealth Management LLC purchased a new stake in shares of Apple in the fourth quarter worth about $69,000. Finally, Inspire Investing LLC purchased a new stake in shares of Apple in the fourth quarter worth about $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were 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 in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. DA Davidson reissued a “neutral” rating and issued a $270.00 price target on shares of Apple in a report on Friday, May 1st. TD Cowen increased their price objective on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada set a $365.00 target price on shares of Apple in a research note on Wednesday, July 15th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price objective for the company. in a report on Tuesday, July 14th. Finally, Raymond James Financial set a $380.00 target price on shares of Apple in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $325.71.

Apple Price Performance

Shares of Apple stock opened at $327.74 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $334.99. The company has a fifty day moving average of $304.95 and a 200-day moving average of $277.89. The stock has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 2.84 and a beta of 1.10.

Apple (NASDAQ:AAPL) last issued 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter last year, the company earned $1.65 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is presently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

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.