RFP Financial Group LLC Has $35.48 Million Holdings in Apple Inc. $AAPL

Key Points

• RFP Financial Group LLC increased its Apple stake by 82.3% in the fourth quarter, buying 58,913 more shares and bringing its total to 130,512 shares worth about $35.48 million.
• Apple reported better-than-expected quarterly results, posting $2.01 EPS versus $1.95 expected and revenue of $111.18 billion versus $109.46 billion expected, with revenue up 16.6% year over year.
• Wall Street remains largely positive on Apple, with a Moderate Buy consensus and an average price target of $314.59; several firms recently raised targets to around $350, though insider sales and margin concerns remain notable headwinds.

RFP Financial Group LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 82.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,512 shares of the iPhone maker's stock after purchasing an additional 58,913 shares during the period. Apple comprises about 17.0% of RFP Financial Group LLC's holdings, making the stock its 2nd largest holding. RFP Financial Group LLC's holdings in Apple were worth $35,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Overbrook Management Corp raised its stake in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after acquiring an additional 38,174 shares during the last quarter. Tufton Capital Management raised its stake in shares of Apple by 4.3% during the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock valued at $25,496,000 after acquiring an additional 4,157 shares during the last quarter. Torren Management LLC bought a new position in shares of Apple during the fourth quarter valued at $1,178,000. Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple during the fourth quarter valued at $105,482,000. Finally, KBC Group NV raised its stake in shares of Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock valued at $1,915,172,000 after acquiring an additional 214,215 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Trading Up 1.8%

AAPL opened at $296.42 on Tuesday. Apple Inc. has a twelve month low of $195.07 and a twelve month 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 company has a fifty day moving average of $286.45 and a 200-day moving average of $272.38. The stock has a market cap of $4.35 trillion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 2.53 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 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The business 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 business's quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company posted $1.65 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AAPL. Maxim Group reiterated a "buy" rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. TD Cowen increased their price objective on shares of Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. DA Davidson reiterated a "neutral" rating and set a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Monday, June 1st. Finally, Morgan Stanley set a $325.00 price objective on shares of Apple in a research report on Tuesday, June 9th. One 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $314.59.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush said Apple’s WWDC AI rollout could be the “first step” toward adding as much as $100 to the stock, as investors focus on the company’s AI execution and the potential for a stronger Siri/Apple Intelligence roadmap. Article Title
• Positive Sentiment: Multiple reports on iOS 27 and Apple Intelligence suggest Apple is making progress on features that could improve older iPhones, expand software value, and strengthen the case for users to upgrade into the next product cycle. Article Title
• Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/overweight views and price targets clustered well above current levels, reinforcing a bullish long-term sentiment on AAPL. Article Title
• Neutral Sentiment: Several articles highlight Apple’s strong recent operating performance, including record iPhone demand and services revenue, but these are largely a rehash of prior earnings strength rather than a fresh catalyst. Article Title
• Negative Sentiment: A Yahoo Finance report says rising memory chip costs could pressure Apple’s hardware margins as AI features require more device memory, creating a potential headwind for profitability over the next few quarters. Article Title
• Negative Sentiment: Broader sentiment is also being dampened by articles noting that the Magnificent Seven, including Apple, have been weak in June and have lagged the broader market at times, which can weigh on near-term momentum. Article Title

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president owned 136,810 shares of the company's stock, valued at $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 97,759 shares of company stock valued at $24,964,305. Company insiders own 0.06% of the company's stock.

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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