Covenant Asset Management LLC Decreases Stock Holdings in Apple Inc. $AAPL

Covenant Asset Management LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,084 shares of the iPhone maker’s stock after selling 3,857 shares during the period. Apple makes up about 2.4% of Covenant Asset Management LLC’s portfolio, making the stock its 4th largest holding. Covenant Asset Management LLC’s holdings in Apple were worth $21,156,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Nexus Investment Management ULC grew its stake in shares of Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after buying an additional 200 shares during the last quarter. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter worth $65,000. Morgan Dempsey Capital Management LLC increased its holdings in shares of Apple by 41.0% during the second quarter. Morgan Dempsey Capital Management LLC now owns 430 shares of the iPhone maker’s stock worth $88,000 after buying an additional 125 shares in the last quarter. Finally, HFM Investment Advisors LLC bought a new position in shares of Apple in the 1st quarter valued at $99,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 0.2%

Apple stock opened at $264.35 on Thursday. The firm has a market cap of $3.88 trillion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.35 and a beta of 1.09. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.94 and a current ratio of 0.97. The firm has a 50 day moving average price of $265.62 and a two-hundred day moving average price of $256.97.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 29th. The iPhone maker reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.17. Apple had a net margin of 27.04% and a return on equity of 159.94%. The company had revenue of $143.76 billion during the quarter, compared to analysts’ expectations of $138.25 billion. During the same period in the prior year, the company posted $2.40 earnings per share. Apple’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.15%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple is accelerating development of three AI wearables (smart glasses, an AI pendant and camera-equipped AirPods) are being priced as a new growth path beyond the iPhone — a potential high‑margin ecosystem extension that traders rewarded. Apple is reportedly cooking up a trio of AI wearables
• Positive Sentiment: Street bullishness remains: Wedbush and other bullish analysts reiterated high price targets (e.g., $350), and commentators argue Apple’s measured AI approach could unlock substantial value — supporting upside sentiment despite recent volatility. Dan Ives Says Apple’s AI Alone Could Be Worth $1.5 Trillion
• Positive Sentiment: Upcoming March 4 product event and strong Q1 results (record revenue / iPhone strength) give investors a near-term catalyst and sentiment support ahead of new-device reveals. Apple Gears Up For ‘Special Experience’ Event On March 4: Here’s What To Expect
• Neutral Sentiment: Macro/positioning notes — Apple’s correlation with the Nasdaq has fallen to multi‑decade lows, which can make it a relative “safe-haven” inside big tech but also means different performance drivers than pure AI plays. Apple’s AI Strategy Offers Alternative for Investors
• Neutral Sentiment: Product extensions (Apple Pay installments; car keys expanding to Toyota) are incremental service/UX positives but unlikely to move the needle alone. Apple Set to Bring Car Keys Function to Toyota Vehicles
• Negative Sentiment: Berkshire Hathaway trimmed its Apple stake in the latest 13F — continuing a multi‑quarter pattern of selling. Large‑holder trimming, even if incremental, can pressure sentiment and headline-driven flows. Berkshire & AI Hyperscalers: Buffett Holds GOOGL, Dumps AMZN
• Negative Sentiment: Investor anxiety about delayed Siri upgrades, reported regulatory scrutiny and recent insider selling have driven part of the recent pullback — these are the main negative narratives investors cite when selling into volatility. Apple’s $2.84 Earnings Beat Can’t Overcome Siri Delay Concerns

Analyst Ratings Changes

A number of equities analysts have issued reports on AAPL shares. Monness Crespi & Hardt upped their target price on Apple from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Evercore restated an “outperform” rating on shares of Apple in a report on Monday, February 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $330.00 target price on shares of Apple in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $292.13.

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.