SVRN Asset Management LLC Takes $1.42 Million Position in Apple Inc. $AAPL

Key Points

• SVRN Asset Management opened a new position in Apple during the fourth quarter, buying 5,208 shares worth about $1.42 million. Apple now accounts for roughly 1.2% of the firm’s portfolio and is its 14th-largest holding.
• Wall Street remains broadly upbeat on Apple, with analysts maintaining mostly Buy ratings and a consensus Moderate Buy target price of $314.59. Recent notes from firms like TD Cowen and Wedbush also lifted or reiterated bullish targets.
• Apple’s latest results and shareholder returns were solid: quarterly EPS of $2.01 topped estimates, revenue rose 16.6% year over year, and the company raised its quarterly dividend to $0.27 per share. However, insider selling and concerns that Apple’s AI rollout may not yet be enough to excite investors remain key overhangs.

SVRN Asset Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,208 shares of the iPhone maker's stock, valued at approximately $1,416,000. Apple makes up approximately 1.2% of SVRN Asset Management LLC's investment portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. First National Bank of Hutchinson boosted its stake in shares of Apple by 24.6% in 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 in the last quarter. Eagle Capital Management LLC lifted its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC lifted its position in Apple by 14.8% during the 4th 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 Apple by 4.2% during the 4th 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 Apple by 2.4% during the 4th 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. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Stifel Nicolaus set a $330.00 price target on shares of Apple in a research report on Monday, March 2nd. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Monday, June 1st. TD Cowen upped their price target on shares of Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday. Wedbush reiterated an "outperform" rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday. One investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $314.59.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was 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 directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ben Borders sold 1,274 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following 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 quarter, insiders sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $291.13 on Friday. The stock has a market capitalization of $4.28 trillion, a P/E ratio of 35.20, a P/E/G ratio of 2.57 and a beta of 1.09. Apple Inc. has a 1-year low of $195.07 and a 1-year high of $317.40. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $285.64 and a two-hundred day moving average price of $272.27.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.4%. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is presently 13.06%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What's the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here's Why It's Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple's AI News Underwhelms. Siri AI Release Concerns Persist.

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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