Rivernorth Capital Management LLC Purchases New Stake in Apple Inc. $AAPL

Rivernorth Capital Management LLC acquired a new position in Apple Inc. (NASDAQ:AAPL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,147 shares of the iPhone maker’s stock, valued at approximately $799,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Richwood Investment Advisors LLC grew its stake in Apple by 0.6% during the 1st quarter. Richwood Investment Advisors LLC now owns 11,070 shares of the iPhone maker’s stock valued at $2,809,000 after acquiring an additional 61 shares in the last quarter. Rokos Capital Management LLP lifted its position in shares of Apple by 135.1% in the first quarter. Rokos Capital Management LLP now owns 1,512,744 shares of the iPhone maker’s stock worth $383,897,000 after purchasing an additional 869,432 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. boosted its holdings in shares of Apple by 7.9% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 961 shares of the iPhone maker’s stock worth $244,000 after purchasing an additional 70 shares during the period. Eley Financial Management Inc boosted its holdings in shares of Apple by 0.6% during the first quarter. Eley Financial Management Inc now owns 31,977 shares of the iPhone maker’s stock worth $8,115,000 after purchasing an additional 190 shares during the period. Finally, Elite Wealth Management Inc. grew its position in Apple by 34.1% during the first quarter. Elite Wealth Management Inc. now owns 42,464 shares of the iPhone maker’s stock valued at $10,777,000 after purchasing an additional 10,794 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $304.91 on Wednesday. The firm has a market capitalization of $4.45 trillion, a PE ratio of 34.97, a PEG ratio of 2.64 and a beta of 1.09. Apple Inc. has a 1 year low of $223.78 and a 1 year high of $344.57. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $309.28 and its 200 day simple moving average is $284.26.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 8.76 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders 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 yield of 0.4%. Apple’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AAPL shares. Monness Crespi & Hardt upped their price objective on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wells Fargo & Company restated an “overweight” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a report on Friday, July 31st. The Goldman Sachs Group reiterated a “buy” rating and set a $360.00 price objective (down from $370.00) on shares of Apple in a report on Friday, July 31st. Rosenblatt Securities boosted their target price on Apple from $276.00 to $300.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, Bank of America reaffirmed a “buy” rating and set a $380.00 price target on shares of Apple in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $328.60.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s latest quarter was its strongest June quarter on record, with revenue rising 16.4% year over year to $109.42 billion and earnings per share of $2.02, ahead of Wall Street expectations. Some investors and analysts, including Gene Munster, view the recent weakness as an attractive accumulation opportunity and anticipate a substantial iPhone upgrade cycle. Apple’s Dip Below $310 is a Great Accumulation Opportunity
• Positive Sentiment: Apple is reportedly exploring alternative memory suppliers, including China’s CXMT, as artificial-intelligence demand tightens global DRAM supplies. Diversifying procurement could help reduce shortages and limit production disruptions, although U.S. restrictions may constrain the opportunity. Apple tests China’s CXMT memory chips
• Neutral Sentiment: Apple is participating in efforts to make AI-generated content traceable, potentially strengthening platform trust and content provenance over time. The initiative is strategically relevant but is unlikely to materially affect near-term earnings. Tech’s Big Push to Make AI Content Traceable
• Neutral Sentiment: Apple Pay and Wallet chief Jennifer Bailey is retiring, creating another senior leadership transition. The impact depends on the successor and execution in financial services. Jennifer Bailey retires
• Negative Sentiment: Jefferies downgraded AAPL from Hold to Underperform and cut its price target to $263.66 from $285.56. The firm cited supply-chain checks suggesting Apple may have abandoned a high-end all-glass iPhone, weakening the case for significantly higher average selling prices. Bloomberg separately reported that the 2027 device may still be on track, leaving uncertainty rather than confirmation. Jefferies downgrades Apple
• Negative Sentiment: Surging memory and storage costs could raise iPhone production expenses by roughly 38%, forcing Apple to choose between higher prices that could pressure demand and lower margins. Reports that iPhone prices have already increased by as much as $300 are intensifying concerns about consumer affordability and pricing power. Apple’s Next iPhone Could Test Pricing Power
• Negative Sentiment: Analyst confidence has cooled despite strong revenue growth, with investors questioning whether Apple can sustain premium-device growth at its roughly $4.45 trillion valuation, particularly as Nvidia and other AI leaders capture more market enthusiasm.

Insider Buying and Selling

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

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.