Cvfg LLC Buys 49,606 Shares of Apple Inc. $AAPL

Cvfg LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 154.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,665 shares of the iPhone maker’s stock after purchasing an additional 49,606 shares during the quarter. Apple comprises 2.6% of Cvfg LLC’s investment portfolio, making the stock its 6th biggest holding. Cvfg LLC’s holdings in Apple were worth $20,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the 4th quarter worth $41,000. ROSS JOHNSON & Associates LLC lifted its stake in shares of 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 buying an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new position in shares of Apple during the fourth quarter valued at about $69,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter valued at about $65,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the fourth quarter worth about $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Apple stock opened at $327.74 on Wednesday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $334.99. The company’s 50 day moving average price is $304.95 and its two-hundred day moving average price is $277.89. The stock has a market cap of $4.81 trillion, a P/E ratio of 39.63, a P/E/G ratio of 2.84 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. On average, equities analysts predict that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s payout ratio is presently 13.06%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird set a $310.00 target price on shares of Apple in a report on Friday, May 1st. HSBC raised Apple from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $260.00 to $366.00 in a report on Thursday, July 16th. Raymond James Financial set a $380.00 target price on Apple in a report on Monday. Royal Bank Of Canada set a $365.00 target price on Apple in a research report on Wednesday, July 15th. Finally, Evercore reissued an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $325.71.

About Apple

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.