Verde Capital Management Increases Stock Position in Apple Inc. $AAPL

Key Points

• Verde Capital Management increased its Apple stake by 84.7% in the first quarter, buying 6,936 additional shares and bringing its total holdings to 15,126 shares worth about $3.84 million.
• Apple reported better-than-expected Q2 results, with EPS of $2.01 versus the $1.95 estimate and revenue of $111.18 billion, up 16.6% from a year earlier.
• The company also raised its quarterly dividend to $0.27 per share, while analysts remain broadly constructive with a consensus rating of Moderate Buy and a price target of $314.85.

Verde Capital Management grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 84.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,126 shares of the iPhone maker's stock after purchasing an additional 6,936 shares during the period. Apple makes up about 0.8% of Verde Capital Management's holdings, making the stock its 24th biggest position. Verde Capital Management's holdings in Apple were worth $3,839,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AAPL. Overbrook Management Corp increased its stake in Apple by 57.4% in the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Torren Management LLC acquired a new stake in Apple in the 4th quarter worth about $1,178,000. Adventist Health System Sunbelt Healthcare Corp purchased a new stake in Apple in the 4th quarter valued at about $105,482,000. KBC Group NV grew its holdings in Apple by 3.1% in the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock valued at $1,915,172,000 after buying an additional 214,215 shares during the period. Finally, Professional Advisory Services Inc. increased its stake in shares of Apple by 29.6% during the 4th quarter. Professional Advisory Services Inc. now owns 94,277 shares of the iPhone maker's stock valued at $25,630,000 after acquiring an additional 21,508 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $284.29 on Friday. Apple Inc. has a 52-week low of $199.26 and a 52-week high of $317.40. The firm has a fifty day moving average of $292.51 and a 200-day moving average of $273.20. The firm has a market capitalization of $4.18 trillion, a P/E ratio of 34.38, a PEG ratio of 2.47 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. As a group, analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

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

Insider Buying and Selling

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 transaction, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 64,949 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 97,875 shares of company stock worth $24,998,541. Company insiders own 0.06% of the company's stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Analysts Set New Price Targets

Several research firms recently issued reports on AAPL. KGI Securities cut shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a research report on Monday, June 22nd. KeyCorp reaffirmed a "sector weight" rating on shares of Apple in a research note on Tuesday, June 9th. Monness Crespi & Hardt lifted their price target on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 1st. Barclays reissued an "underweight" rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.85.

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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