MV Capital Management Inc. Purchases Shares of 81,424 Apple Inc. $AAPL

MV Capital Management Inc. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the 4th quarter, Holdings Channel reports. The fund acquired 81,424 shares of the iPhone maker’s stock, valued at approximately $22,136,000. Apple accounts for about 2.1% of MV Capital Management Inc.’s portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares during the last quarter. State Street Corp boosted its position in shares of Apple by 1.1% in the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after acquiring an additional 6,555,392 shares during the last quarter. Geode Capital Management LLC grew its holdings in Apple by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after purchasing an additional 1,866,103 shares during the period. Morgan Stanley grew its holdings in Apple by 0.6% in the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after purchasing an additional 1,379,651 shares during the period. Finally, Norges Bank acquired a new position in Apple during the fourth quarter worth approximately $52,266,468,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Analyst Ratings Changes

A number of equities analysts have weighed in on AAPL shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. DA Davidson restated a “neutral” rating and set a $270.00 price objective on shares of Apple in a report on Friday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a report on Monday, March 2nd. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.59.

Insider Buying and Selling

In other news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,875 shares of company stock worth $24,998,541 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $298.01 on Friday. The company’s fifty day simple moving average is $289.73 and its 200-day simple moving average is $272.98. Apple Inc. has a 52 week low of $196.85 and a 52 week 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 company has a market cap of $4.38 trillion, a PE ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the prior year, the company earned $1.65 EPS. The firm’s revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 8.75 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 paid a dividend of $0.27 per share. This is a boost from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. Apple’s payout ratio is presently 13.06%.

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.