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

CPA Asset Management Group LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 13.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,635 shares of the iPhone maker’s stock after selling 2,344 shares during the quarter. Apple accounts for about 1.3% of CPA Asset Management Group LLC’s holdings, making the stock its 20th biggest holding. CPA Asset Management Group LLC’s holdings in Apple were worth $3,968,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the fourth quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at $65,000. Timmons Wealth Management LLC purchased a new stake in Apple during the 4th quarter valued at $69,000. Finally, Inspire Investing LLC bought a new stake in Apple in the 4th quarter worth $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 116 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company’s stock.

Key Apple News

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

A number of research analysts recently issued reports on the company. Bank of America restated a “buy” rating and set a $380.00 price target on shares of Apple in a report on Thursday, June 18th. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. Monness Crespi & Hardt boosted their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Citigroup restated a “buy” rating and set a $365.00 target price (up from $315.00) on shares of Apple in a report on Monday, July 13th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price target on shares of Apple in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $331.60.

Apple Stock Down 7.4%

Apple stock opened at $308.91 on Friday. The firm has a market cap of $4.54 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.88 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $344.57. The stock has a fifty day simple moving average of $309.51 and a two-hundred day simple moving average of $281.45.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 142.29%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 EPS. Equities analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Dividend Announcement

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

Apple 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.