CV Advisors LLC Has $21.18 Million Position in Apple Inc. (NASDAQ:AAPL)

CV Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 57.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 84,570 shares of the iPhone maker’s stock after acquiring an additional 30,993 shares during the quarter. Apple makes up 7.2% of CV Advisors LLC’s investment portfolio, making the stock its 2nd largest position. CV Advisors LLC’s holdings in Apple were worth $21,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Drystone LLC purchased a new stake in Apple during the 4th quarter worth about $25,000. Life Planning Partners Inc purchased a new stake in Apple during the 4th quarter worth about $47,000. SPX Gestao de Recursos Ltda purchased a new stake in Apple during the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple in the 3rd quarter valued at about $77,000. Finally, Pillar Financial Advisors LLC purchased a new stake in shares of Apple in the 4th quarter valued at about $82,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. UBS Group lowered their price target on Apple from $236.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Apple in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their price target on Apple from $270.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Raymond James lowered their price target on Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.80.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple Price Performance

AAPL opened at $195.27 on Monday. The stock’s 50 day simple moving average is $205.04 and its 200 day simple moving average is $225.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the company earned $1.53 EPS. Apple’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Apple announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.