CPC Advisors LLC Has $9.80 Million Stake in Apple Inc. $AAPL

CPC Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 55.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,601 shares of the iPhone maker’s stock after selling 48,413 shares during the quarter. Apple comprises about 1.6% of CPC Advisors LLC’s portfolio, making the stock its 12th largest position. CPC Advisors LLC’s holdings in Apple were worth $9,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Everstar Asset Management LLC lifted its holdings in shares of Apple by 3.1% during the 1st quarter. Everstar Asset Management LLC now owns 9,203 shares of the iPhone maker’s stock worth $2,336,000 after acquiring an additional 280 shares during the period. OxenFree Capital LLC increased its stake in Apple by 19.8% in the first quarter. OxenFree Capital LLC now owns 1,633 shares of the iPhone maker’s stock valued at $435,000 after acquiring an additional 270 shares during the last quarter. Lee Johnson Capital Management LLC raised its position in Apple by 2.3% during the first quarter. Lee Johnson Capital Management LLC now owns 7,804 shares of the iPhone maker’s stock valued at $1,981,000 after purchasing an additional 175 shares in the last quarter. Capstone Wealth Management Group LLC raised its position in Apple by 2.9% during the fourth quarter. Capstone Wealth Management Group LLC now owns 16,164 shares of the iPhone maker’s stock valued at $4,394,000 after purchasing an additional 454 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in Apple by 4.4% during the first quarter. Warren Street Wealth Advisors LLC now owns 18,602 shares of the iPhone maker’s stock worth $4,721,000 after purchasing an additional 785 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAPL. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Monday, March 2nd. Wells Fargo & Company restated an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. DA Davidson reiterated a “neutral” rating and issued a $270.00 target price on shares of Apple in a research report on Friday, May 1st. Finally, Citigroup reissued a “buy” rating on shares of Apple in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Apple Price Performance

AAPL stock opened at $284.29 on Friday. The company has a market capitalization of $4.18 trillion, a P/E ratio of 34.38, a PEG ratio of 2.39 and a beta of 1.09. The company has a fifty day moving average price of $292.51 and a 200-day moving average price of $273.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 52-week low of $199.26 and a 52-week high of $317.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate 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 business posted $1.65 earnings per share. As a group, equities analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is 13.06%.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares of the company’s stock, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,875 shares of company stock valued at $24,998,541 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

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.