MV Capital Management Inc. acquired a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 81,424 shares of the iPhone maker’s stock, valued at approximately $22,136,000. Apple accounts for about 2.1% of MV Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Isthmus Partners LLC grew its holdings in Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after acquiring an additional 5,808 shares during the period. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth $65,000. Timmons Wealth Management LLC acquired a new position in shares of Apple during the 4th quarter worth $69,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. Monness Crespi & Hardt lifted their price target on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. KeyCorp reissued a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.59.
Insider Buying and Selling
In other news, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.
Apple Stock Performance
Shares of AAPL opened at $298.01 on Friday. Apple Inc. has a 12-month low of $196.85 and a 12-month high of $317.40. The stock has a market cap of $4.38 trillion, a P/E ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. 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 50-day moving average of $289.73 and a two-hundred day moving average of $272.98.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 8.75 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently announced 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 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is currently 13.06%.
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.
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