Apple Inc. $AAPL is NovaPoint Capital LLC's 3rd Largest Position

Key Points

• NovaPoint Capital increased its Apple position by 3.6% in the first quarter to 59,675 shares valued at approximately $15.1 million, making Apple its third-largest holding. Hedge funds and institutional investors own 67.73% of Apple’s stock.
• Analysts maintain a generally positive outlook, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $331.60, despite some firms recently trimming targets.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, exceeding estimates, while revenue rose 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share, yielding about 0.3% annually.

NovaPoint Capital LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,675 shares of the iPhone maker's stock after buying an additional 2,062 shares during the quarter. Apple accounts for approximately 3.8% of NovaPoint Capital LLC's holdings, making the stock its 3rd largest position. NovaPoint Capital LLC's holdings in Apple were worth $15,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PeakShares LLC grew its holdings in shares of Apple by 41.1% in the first quarter. PeakShares LLC now owns 5,885 shares of the iPhone maker's stock worth $1,494,000 after acquiring an additional 1,713 shares during the period. Prospect Financial Group LLC lifted its holdings in Apple by 0.9% in the first quarter. Prospect Financial Group LLC now owns 9,498 shares of the iPhone maker's stock valued at $2,410,000 after acquiring an additional 86 shares during the period. Gould Asset Management LLC CA lifted its holdings in Apple by 1.0% in the first quarter. Gould Asset Management LLC CA now owns 40,519 shares of the iPhone maker's stock valued at $10,283,000 after acquiring an additional 405 shares during the period. Angeles Wealth Management LLC boosted its position in Apple by 8.7% in the first quarter. Angeles Wealth Management LLC now owns 182,360 shares of the iPhone maker's stock worth $46,281,000 after purchasing an additional 14,521 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. boosted its position in Apple by 79.7% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 415,028 shares of the iPhone maker's stock worth $105,330,000 after purchasing an additional 184,066 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AAPL. DA Davidson reaffirmed a "neutral" rating and set a $270.00 price target on shares of Apple in a research report on Friday. Wedbush reissued an "outperform" rating and issued a $400.00 price objective on shares of Apple in a report on Friday, June 5th. Oppenheimer restated a "market perform" rating on shares of Apple in a research report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Friday. Finally, Morgan Stanley decreased their price target on shares of Apple from $364.00 to $360.00 and set an "overweight" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average target price of $331.60.

Apple Stock Down 7.4%

NASDAQ AAPL opened at $308.91 on Friday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $344.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $4.54 trillion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 2.67 and a beta of 1.10. The stock's 50-day moving average price is $309.51 and its 200-day moving average price is $281.45.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 142.29% and a net margin of 27.62%.The firm's revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 EPS. On average, equities research analysts predict that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's payout ratio is currently 12.39%.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 1,274 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

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.

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