Apple Inc. $AAPL is Cove Private Wealth LLC's Largest Position

Key Points

• Cove Private Wealth LLC increased its Apple stake 5.9% to 118,587 shares, making Apple its largest holding at 9.6% of the fund and worth $32,239,000.
• Apple beat Q1 estimates with $2.01 EPS and $111.18 billion in revenue (up 16.6% year‑over‑year) and announced a quarterly dividend increase to $0.27 per share (record date May 11, paid May 14).
• Several major institutions — including Norges Bank, Nuveen, Northern Trust and UBS AM — added large positions, leaving roughly 67.73% of Apple shares owned by hedge funds and other institutional investors.

Cove Private Wealth LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,587 shares of the iPhone maker's stock after purchasing an additional 6,590 shares during the quarter. Apple makes up 9.6% of Cove Private Wealth LLC's holdings, making the stock its largest position. Cove Private Wealth LLC's holdings in Apple were worth $32,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in AAPL. Norges Bank acquired a new position in Apple during the 2nd quarter valued at about $38,942,255,000. Nuveen LLC acquired a new position in Apple during the 1st quarter valued at about $17,472,482,000. Laurel Wealth Advisors LLC increased its position in Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after buying an additional 26,937,401 shares in the last quarter. Northern Trust Corp increased its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the sale, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. The trade was a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 96,485 shares of company stock valued at $24,594,845 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 1.2%

Apple stock opened at $287.52 on Thursday. 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 Inc. has a 52 week low of $193.25 and a 52 week high of $288.62. The company has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06. The stock has a 50-day moving average price of $261.55 and a 200 day moving average price of $265.79.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company's revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 8.73 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be issued 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 of this dividend is Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. Maxim Group raised Apple from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Friday, January 30th. Jefferies Financial Group set a $330.00 target price on Apple in a research report on Wednesday, March 4th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research report on Monday, March 2nd. KeyCorp reaffirmed a "sector weight" rating on shares of Apple in a research report on Thursday, March 12th. Finally, Phillip Securities raised Apple from a "moderate sell" rating to a "hold" rating in a research report on Sunday, February 1st. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $304.31.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bloomberg/Reuters reports Apple will let users pick third‑party AI models across iOS 27 features — a move that turns iPhones into a more open AI platform, increasing services opportunities and ecosystem stickiness. Apple to let users choose rival AI models across iOS 27 features
• Positive Sentiment: Apple confirmed an increased dividend with an upcoming record/ex‑dividend timeline (shareholders of record May 11; payment mid‑May), supporting income-oriented demand. Dear Apple Stock Fans, Mark Your Calendars for May 11
• Positive Sentiment: Reports that Apple is exploring U.S. chip manufacturing partnerships with Intel and Samsung reduce single‑supplier (TSMC) risk — a structural supply‑chain play that investors see as de‑risking long‑term device production. The news also lifted chip peers, signaling investor appetite for the strategy. Apple explores using Intel, Samsung to build main device chips in the US
• Positive Sentiment: Strong product performance: iPhone 17 is reported as the world’s best‑selling smartphone in Q1 and Apple posted a record March quarter (revenue/EPS beats), reinforcing top‑line momentum. iPhone 17 Rules, Becomes World's Best‑Selling Smartphone
• Neutral Sentiment: Apple’s R&D spending has crossed 10% of sales as it accelerates AI investment — good for long‑term product leadership but raises near‑term operating leverage and investor focus on ROI. Apple crosses 10% of sales on AI R&D
• Neutral Sentiment: Product lineup changes and temporary pulled Mac Studio/Mac mini high‑memory configs point to supply bottlenecks for Macs — supports demand proof but may keep near‑term sales lumpy. Apple pulls high‑memory Mac mini/Mac Studio configs from store on supply crunch
• Negative Sentiment: Apple agreed to a $250M settlement in lawsuits over delayed/mis‑advertised Siri/AI features — the cost is manageable but highlights execution and marketing risks around AI rollouts and could create modest near‑term cash outflows and reputational headlines. Apple settles lawsuit over late Siri AI features for $250 million
• Negative Sentiment: Legal pressure persists: Apple failed to pause a contempt ruling related to the Epic Games App Store case, keeping antitrust/legal overhangs on the stock. Apple dealt blow by Supreme Court in long‑running antitrust feud

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.

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