CPA Asset Management Group LLC Sells 2,344 Shares of Apple Inc. $AAPL

CPA Asset Management Group LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,635 shares of the iPhone maker’s stock after selling 2,344 shares during the period. Apple accounts for about 1.3% of CPA Asset Management Group LLC’s investment portfolio, making the stock its 20th largest position. CPA Asset Management Group LLC’s holdings in Apple were worth $3,968,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Rainier Family Wealth Inc. grew its holdings in Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after acquiring an additional 3,014 shares during the period. Torren Management LLC acquired a new stake in Apple in the fourth quarter valued at $1,178,000. Summit Wealth Partners LLC boosted its position in shares of Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after purchasing an additional 18,188 shares in the last quarter. Adventist Health System Sunbelt Healthcare Corp purchased a new stake in shares of Apple during the 4th quarter worth $105,482,000. Finally, KBC Group NV grew its stake in shares of Apple by 3.1% during the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after purchasing an additional 214,215 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Trending Headlines about Apple

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

Analysts Set New Price Targets

Several analysts recently commented on AAPL shares. Barclays reiterated an “underweight” rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research note on Friday. DA Davidson restated a “neutral” rating and set a $270.00 target price on shares of Apple in a research report on Friday. Maxim Group reaffirmed a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Robert W. Baird upped their price target on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, Monness Crespi & Hardt lifted their price objective on Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $331.60.

Apple Price Performance

AAPL stock opened at $308.91 on Friday. The stock’s 50 day moving average price is $309.51 and its 200 day moving average price is $281.45. The firm has a market cap of $4.54 trillion, a P/E ratio of 35.43, a PEG ratio of 2.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $344.57.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 142.29% and a net margin of 27.62%.The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the business posted $1.57 earnings per share. Apple’s revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s payout ratio is presently 12.39%.

About Apple

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.