Catalyst Investment Management LLC Makes New $1.90 Million Investment in Apple Inc. $AAPL

Key Points

• Catalyst Investment Management opened a new position in Apple during the fourth quarter, buying 6,999 shares worth about $1.9 million. Apple now makes up about 1.8% of the firm’s portfolio.
• Apple’s latest quarterly results beat expectations, with $2.01 EPS and $111.18 billion in revenue, both above analyst estimates. Revenue rose 16.6% year over year, and analysts now expect full-year EPS of 8.75.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts maintain a Moderate Buy consensus and a target price of $314.59.

Catalyst Investment Management LLC acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,999 shares of the iPhone maker's stock, valued at approximately $1,903,000. Apple comprises about 1.8% of Catalyst Investment Management LLC's holdings, making the stock its 15th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in Apple by 0.4% in the fourth quarter. Sunbelt Securities Inc. now owns 125,257 shares of the iPhone maker's stock worth $34,052,000 after acquiring an additional 441 shares in the last quarter. Cambient Family Office LLC acquired a new stake in Apple during the 4th quarter worth about $23,289,000. McLaughlin Asset Management Inc. purchased a new stake in Apple in the fourth quarter valued at approximately $2,990,000. Capstone Wealth Management Inc. purchased a new position in shares of Apple during the fourth quarter worth $252,000. Finally, Bauman Advisory Group LLC acquired a new stake in Apple during the fourth quarter worth about $2,554,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $298.01 on Friday. The stock has a market cap of $4.38 trillion, a PE ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. Apple Inc. has a twelve month low of $196.85 and a twelve month high of $317.40. The stock has a fifty day simple moving average of $289.73 and a 200-day simple moving average of $272.98. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the business posted $1.65 earnings per share. The company's quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a 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 was Monday, May 11th. Apple's dividend payout ratio is 13.06%.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Oppenheimer reissued a "market perform" rating on shares of Apple in a research note on Tuesday, June 9th. Monness Crespi & Hardt increased their price objective on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 1st. Maxim Group restated a "buy" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $314.59.

More Apple News

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

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $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 accessible through this link. Also, insider Ben Borders sold 1,274 shares of the firm'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 sale, the insider directly owned 38,713 shares of the company's stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by corporate 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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