Apple Inc. $AAPL is Rovin Capital UT ADV's 9th Largest Position

Key Points

• Rovin Capital UT ADV increased its stake in Apple Inc. by 15.3%, acquiring an additional 4,463 shares during the first quarter, bringing its total holdings to 33,723 shares, valued at approximately $7.49 million.
• Several institutional investors have also raised their positions in Apple, with notable increases including a 52.8% stake increase by Alta Advisers Ltd and an 18.3% increase by Astoria Portfolio Advisors LLC.
• Analysts remain bullish on Apple stock, with the average price target set at $237.60 and notable upgrades from firms like Raymond James and Monness Crespi & Hardt, reflecting strong performance and favorable market outlook.

Rovin Capital UT ADV lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,723 shares of the iPhone maker's stock after buying an additional 4,463 shares during the period. Apple makes up approximately 2.4% of Rovin Capital UT ADV's investment portfolio, making the stock its 9th biggest holding. Rovin Capital UT ADV's holdings in Apple were worth $7,491,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAPL. Conquis Financial LLC purchased a new position in Apple in the fourth quarter valued at $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth about $65,000. Pillar Financial Advisors LLC purchased a new position in Apple in the 4th quarter valued at about $82,000. Compass Planning Associates Inc purchased a new position in Apple in the 4th quarter valued at about $96,000. Finally, Sellwood Investment Partners LLC purchased a new position in Apple in the 4th quarter valued at about $147,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AAPL. Citigroup raised their price target on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Rosenblatt Securities restated a "neutral" rating and set a $217.00 price target on shares of Apple in a research report on Tuesday, July 29th. DA Davidson restated a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Finally, Evercore ISI reiterated an "outperform" rating and issued a $250.00 target price on shares of Apple in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $237.60.

Apple Stock Down 0.4%

Shares of Apple stock traded down $0.9810 during trading hours on Tuesday, hitting $229.9090. The company had a trading volume of 20,787,359 shares, compared to its average volume of 57,647,684. The company's 50-day moving average is $210.28 and its two-hundred day moving average is $212.94. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.41 trillion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the business earned $1.40 EPS. Apple's quarterly revenue was up 9.6% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. Apple's payout ratio is presently 15.78%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.