Navigation Group LLC Invests $14.51 Million in Apple Inc. $AAPL

Key Points

• Navigation Group LLC initiated a $14.51 million position in Apple during the first quarter, purchasing 57,179 shares. Apple now represents 3.4% of the firm’s portfolio, while institutional investors collectively own 67.73% of the stock.
• Apple reported quarterly earnings of $2.02 per share on $109.42 billion in revenue, exceeding analyst expectations, with revenue rising 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share, representing a 0.3% yield.
• Despite Apple shares trading down 7.4%, analysts maintain an overall “Moderate Buy” rating with an average price target of $331.60, compared with the reported opening price of $308.91.

Navigation Group LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,179 shares of the iPhone maker's stock, valued at approximately $14,512,000. Apple comprises 3.4% of Navigation Group LLC's portfolio, making the stock its 9th biggest position.

Several other institutional investors also recently bought and sold shares of the stock. First National Bank of Hutchinson boosted its holdings in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC increased its holdings in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after buying an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 7.4%

AAPL opened at $308.91 on Friday. The stock has a 50-day moving average of $309.51 and a 200 day moving average of $281.45. 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 Inc. has a 12 month low of $201.50 and a 12 month high of $344.57. The firm has a market cap of $4.54 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.88 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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 business had revenue of $109.42 billion for 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 company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 earnings per share. As a group, research analysts forecast that Apple Inc. will post 8.76 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given 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 dividend yield of 0.3%. Apple's payout ratio is currently 12.39%.

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AAPL shares. Morgan Stanley cut their price target on Apple from $364.00 to $360.00 and set an "overweight" rating for the company in a report on Friday. Rosenblatt Securities upped their price objective on Apple from $276.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday. BNP Paribas Exane upgraded Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price for the company in a research report on Friday, April 17th. Raymond James Financial reissued a "market perform" rating on shares of Apple in a report on Friday. Finally, DA Davidson restated a "neutral" rating and issued a $270.00 price target on shares of Apple in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $331.60.

Apple News Summary

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

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.

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.