First Growth Capital LLC Takes Position in Apple Inc. $AAPL

by · The Cerbat Gem

First Growth Capital LLC bought a new position in Apple Inc. (NASDAQ:AAPL – Free Report) during the fourth quarter, Holdings Channel reports. The fund bought 7,913 shares of the iPhone maker’s stock, valued at approximately $2,180,000. Apple makes up 2.1% of First Growth Capital LLC’s portfolio, making the stock its 8th biggest holding.

Other institutional investors also recently modified their holdings of the company. Overbrook Management Corp increased its holdings in shares of Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after acquiring an additional 38,174 shares during the period. Tufton Capital Management raised its position in shares of Apple by 4.3% in the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock worth $25,496,000 after acquiring an additional 4,157 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Apple during the 4th quarter worth $1,178,000. 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 boosted its position in Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock valued at $1,915,172,000 after purchasing an additional 214,215 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Trading Up 0.7%

NASDAQ:AAPL opened at $298.01 on Friday. The company has a market capitalization of $4.38 trillion, a P/E ratio of 36.04, a PEG ratio of 2.58 and a beta of 1.09. 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 $196.85 and a 12 month high of $317.40. The firm has a fifty day simple moving average of $288.95 and a 200-day simple moving average of $272.80.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. On average, equities research analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

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

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Monday, June 1st. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Friday, April 17th. Moffett Nathanson raised their price target on shares of Apple from $241.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $276.00 price objective on shares of Apple in a research report on Tuesday, June 9th. Finally, Tigress Financial reiterated a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.59.

View Our Latest Report on AAPL

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

  • Positive Sentiment: Bank of America reiterated a Buy rating on Apple and kept a $380 price target, citing Apple’s pricing power, strong supply-chain position, and ability to manage rising memory costs. Article Title
  • Positive Sentiment: President Trump said Apple will work with Intel to design and build chips in the U.S., raising hopes for a domestic supply-chain boost and stronger strategic positioning for Apple. Article Title
  • Positive Sentiment: Analysts said Apple is relatively well positioned to weather the AI-driven memory shortage because of its scale, inventory, and supplier relationships, which may help protect hardware margins. Article Title
  • Neutral Sentiment: Apple reportedly plans to raise prices across its product lineup, which could support margins but may also weigh on consumer demand if the increases are too large. Article Title
  • Neutral Sentiment: Apple is also reportedly developing new AI wearables and a foldable iPhone for 2027, which supports the long-term product pipeline but is unlikely to affect near-term earnings. Article Title
  • Negative Sentiment: Italy opened a Digital Markets Act probe into Apple’s cloud interoperability practices, adding another regulatory risk for the company in Europe. Article Title

Apple Company Profile

(Free Report)

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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