Jag Capital Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 281,717 shares of the iPhone maker’s stock after buying an additional 11,885 shares during the quarter. Apple comprises approximately 8.0% of Jag Capital Management LLC’s investment portfolio, making the stock its biggest holding. Jag Capital Management LLC’s holdings in Apple were worth $71,497,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Avalon Trust Co raised its holdings in shares of Apple by 1.2% during the first quarter. Avalon Trust Co now owns 416,025 shares of the iPhone maker’s stock worth $105,583,000 after acquiring an additional 5,000 shares during the period. Gerald Baker Financial Group LLC acquired a new position in Apple in the 1st quarter worth $6,557,000. Allspring Global Investments Holdings LLC boosted its stake in Apple by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,570,552 shares of the iPhone maker’s stock worth $912,740,000 after purchasing an additional 96,079 shares during the period. One Day In July LLC increased its holdings in Apple by 7.4% during the 1st quarter. One Day In July LLC now owns 45,345 shares of the iPhone maker’s stock worth $11,508,000 after purchasing an additional 3,125 shares in the last quarter. Finally, Thayer Partners LLC MA increased its holdings in Apple by 1.9% during the 1st quarter. Thayer Partners LLC MA now owns 23,460 shares of the iPhone maker’s stock worth $5,954,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a research note on Monday, June 22nd. KeyCorp reaffirmed an “underweight” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple in a report on Wednesday, July 15th. Raymond James Financial reissued a “market perform” rating on shares of Apple in a research report on Friday. Finally, Tigress Financial restated 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.60.
Apple Stock Performance
Shares of NASDAQ AAPL opened at $308.91 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $4.54 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.67 and a beta of 1.10. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $344.57. The stock has a 50 day moving average of $309.51 and a 200-day moving average of $281.45.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 142.29%. Apple’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS. As a group, equities research analysts predict that Apple Inc. will post 8.8 EPS for the current year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple’s dividend payout ratio is presently 12.39%.
Apple News Summary
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
- Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
- Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results
Insider Buying and Selling at Apple
In related news, insider Ben Borders sold 116 shares of the company’s stock in a transaction dated 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 owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company’s stock.
Apple Company 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.
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