Connective Portfolio Management LLC Purchases New Position in Apple Inc. $AAPL

Connective Portfolio Management LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,520 shares of the iPhone maker’s stock, valued at approximately $1,659,000. Apple comprises approximately 2.9% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 13th largest holding.

A number of other large investors have also recently made changes to their positions in AAPL. First National Bank of Hutchinson increased its position in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC boosted its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its stake in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Argus set a $325.00 price target on Apple and gave the stock a “buy” rating in a research note on Friday, October 31st. Barclays boosted their target price on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Loop Capital reiterated a “buy” rating and issued a $325.00 price target (up from $315.00) on shares of Apple in a research note on Tuesday, December 2nd. Wall Street Zen lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Rosenblatt Securities raised their target price on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $283.92.

Apple Trading Down 0.8%

NASDAQ:AAPL opened at $260.35 on Thursday. The stock has a market cap of $3.85 trillion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.45 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average price is $273.30 and its 200-day moving average price is $246.00. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same period in the previous year, the business earned $1.64 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan set to take over the Apple Card program, ending a drawn-out, costly partnership with Goldman Sachs and removing a persistent operational/regulatory headache for Apple; transition expected to take ~24 months. This reduces execution risk around Apple’s consumer-finance offering. JPMorgan reaches deal to take over Apple credit card, WSJ reports
• Positive Sentiment: Evercore names Apple a top tech pick ahead of a key iPhone upgrade cycle, signaling analyst conviction about near-term iPhone sales and upside to hardware/services revenue. AAPL: Evercore Calls Apple Top Tech Pick Ahead of Key iPhone Cycle
• Positive Sentiment: Foxconn’s strong Q4 revenue (AI/server and device demand) is read as a bullish signal for iPhone demand, providing a supplier-confirmation boost to Apple’s hardware outlook. Gene Munster Flags Positive Signal For Nvidia And Apple As Foxconn Smashes Q4 Revenue Estimates
• Neutral Sentiment: Investor calendar item: Apple has product/feature rollouts due Jan. 12 — a potential catalyst if new features meaningfully boost services engagement, but not yet a revenue-confirming event. Dear Apple Stock Fans, Mark Your Calendars for January 12
• Negative Sentiment: Alphabet surpassed Apple in market capitalization, a headline that can pressure sentiment toward Apple by shifting index/flows and signaling competitive momentum for AI leaders outside Apple. Alphabet Surpasses Apple in Market Cap for First Time Since 2019
• Negative Sentiment: Soaring memory prices pose margin pressure for hardware makers including Apple; higher component costs could compress gross margins if not passed to customers. Apple and Dell Face Soaring Memory Prices. How the Stocks Can Handle the Threat.
• Negative Sentiment: App Store net revenue growth decelerated in December, a flag for services growth momentum that investors watch closely given services’ role in valuation. Apple App Store Net Revenue Growth Decelerates In December

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the sale, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. The trade was a 19.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.06% of the company’s stock.

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.