Apple Inc. $AAPL Position Lifted by DGS Capital Management LLC

Key Points

• DGS Capital Management LLC increased its Apple stake by 8.3% in the fourth quarter, adding 5,323 shares and bringing its position to 69,693 shares valued at about $18.95 million.
• Apple reported strong quarterly results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping expectations; revenue also rose 16.6% year over year.
• The company raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly constructive with an average rating of Moderate Buy and a consensus price target of $314.59.

DGS Capital Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,693 shares of the iPhone maker's stock after buying an additional 5,323 shares during the period. Apple accounts for approximately 3.2% of DGS Capital Management LLC's portfolio, making the stock its 3rd biggest holding. DGS Capital Management LLC's holdings in Apple were worth $18,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at $52,266,468,000. Nuveen LLC purchased a new stake in Apple in the 1st quarter valued at $17,472,482,000. Cardano Risk Management B.V. boosted its stake in Apple by 890.7% during the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC boosted its stake 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 worth $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. grew its position in Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $298.01 on Friday. Apple Inc. has a fifty-two week low of $196.85 and a fifty-two week high of $317.40. 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 firm's 50-day simple moving average is $289.73 and its 200-day simple moving average is $272.98. The company has a market cap of $4.38 trillion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm's revenue for the quarter 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. As a group, equities research analysts predict that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

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

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 1,534 shares of Apple 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. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ben Borders sold 1,274 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following 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 position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 97,875 shares of company stock valued at $24,998,541. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAPL. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 9th. BNP Paribas Exane raised Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target on the stock in a report on Friday, April 17th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Moffett Nathanson increased their price objective on Apple from $241.00 to $270.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Finally, Monness Crespi & Hardt lifted their target price on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $314.59.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

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.

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