Everest Financial Group LLC Acquires 14,432 Shares of Apple Inc. $AAPL

Key Points

• Everest Financial Group increased its Apple stake by 21.1% in the first quarter, adding 14,432 shares to own 82,933 shares worth approximately $21.05 million. Apple now represents 3.5% of the fund’s portfolio.
• Apple reported a quarterly earnings beat, with EPS of $2.02 and revenue of $109.42 billion, up 16.4% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $328.60.
• Potential headwinds include rising memory costs that could lift iPhone production expenses, geopolitical risks surrounding China’s CXMT supplier, and Jefferies’ downgrade to “Underperform” with a $263.66 price target.

Everest Financial Group LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 21.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,933 shares of the iPhone maker's stock after purchasing an additional 14,432 shares during the period. Apple comprises 3.5% of Everest Financial Group LLC's portfolio, making the stock its 8th largest position. Everest Financial Group LLC's holdings in Apple were worth $21,048,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AAPL. Lifetime Wealth Management P.C. bought a new stake in shares of Apple in the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management bought a new position in Apple during the 4th quarter valued at $65,000. Timmons Wealth Management LLC bought a new position in Apple during the 4th quarter valued at $69,000. Finally, Inspire Investing LLC acquired a new position in Apple during the 4th quarter worth $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is testing memory chips from China’s CXMT for some iPhones and MacBooks sold in China. If approved by U.S. authorities, the move could provide an additional supply source and help mitigate shortages caused by surging AI-related demand. Apple tests China's CXMT memory chips
• Positive Sentiment: Some Apple-focused investors, including Deepwater Asset Management’s Gene Munster, argue that the shares remain undervalued and that future iPhone price increases, artificial-intelligence features and a potential upgrade cycle could support longer-term growth. Gene Munster disagrees with Apple downgrade
• Neutral Sentiment: Apple is scheduled to pay a quarterly dividend of $0.27 per share on August 13 to eligible shareholders, providing a modest near-term shareholder return. Apple dividend payment
• Negative Sentiment: Jefferies downgraded Apple from Hold to Underperform and cut its price target to $263.66 from $285.56. Analyst Edison Lee reportedly believes Apple has scrapped a planned all-glass iPhone because of production challenges, removing a potential premium product that could have lifted average selling prices and profitability. Apple could underperform without an all-glass iPhone
• Negative Sentiment: Memory and storage costs are rising sharply amid the AI-driven supply crunch; reports suggest iPhone 18 production costs could increase by roughly 38%. Apple may need to raise prices, risking weaker demand, or absorb the costs, pressuring margins. Apple's iPhone 18 costs could jump 38%
• Negative Sentiment: The CXMT testing also introduces geopolitical and execution risks: U.S. restrictions could limit Apple’s access to the supplier, while CXMT’s capacity and technology may lag established memory manufacturers. These issues add uncertainty to Apple’s supply chain and pricing strategy.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Citigroup restated a "buy" rating and issued a $365.00 target price (up from $315.00) on shares of Apple in a research note on Monday, July 13th. DA Davidson reiterated a "neutral" rating and issued a $270.00 price target on shares of Apple in a research note on Friday, July 31st. Raymond James Financial reissued a "market perform" rating on shares of Apple in a report on Friday, July 31st. KGI Securities cut Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective on the stock. in a research note on Monday, June 22nd. Finally, Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $328.60.

Apple Stock Performance

Shares of AAPL stock opened at $308.26 on Tuesday. The company has a market cap of $4.50 trillion, a P/E ratio of 35.35, a PEG ratio of 2.68 and a beta of 1.09. The business has a 50 day moving average of $309.49 and a two-hundred day moving average of $283.86. Apple Inc. has a 52 week low of $223.78 and a 52 week high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 EPS. As a group, analysts anticipate that Apple Inc. will post 8.76 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple's dividend payout ratio (DPR) is presently 12.39%.

Insider Activity

In other news, insider Ben Borders sold 116 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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