CVA Family Office LLC Has $12.23 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

CVA Family Office LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,045 shares of the iPhone maker’s stock after purchasing an additional 971 shares during the quarter. Apple makes up approximately 1.9% of CVA Family Office LLC’s holdings, making the stock its 11th biggest holding. CVA Family Office LLC’s holdings in Apple were worth $12,227,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Advanced Portfolio Management LLC grew its stake in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares in the last quarter. Family Capital Management Inc. grew its stake in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after acquiring an additional 48 shares in the last quarter. Scarborough Advisors LLC grew its stake in shares of Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after acquiring an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC grew its stake in shares of Apple by 0.7% in the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock valued at $1,794,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AAPL shares. Tigress Financial upped their price target on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. DA Davidson upped their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Scotiabank cut shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective on shares of Apple in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.27.

Apple Stock Performance

Apple stock opened at $210.16 on Thursday. The business has a 50 day moving average of $204.07 and a 200-day moving average of $216.41. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company has a market capitalization of $3.14 trillion, a P/E ratio of 32.74, a P/E/G ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is currently 16.20%.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

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.