Apple (NASDAQ:AAPL) Stock Purchased Rep. Ed Case

Key Points

• Representative Ed Case purchased Apple shares worth between $1,001 and $15,000 on August 13, according to a disclosure filed August 18.
• Apple reported quarterly revenue of $109.42 billion, up 16.4% year over year, and earnings of $2.02 per share, exceeding analyst expectations.
• Wall Street maintains a generally positive view, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $330.53; the company also pays a quarterly dividend of $0.27 per share.

Representative Ed Case (Democratic-Hawaii) recently bought shares of Apple Inc. NASDAQ: AAPL. In a filing disclosed on August 18th, the Representative disclosed that they had bought between $1,001 and $15,000 in Apple stock on August 13th.

Apple Price Performance

AAPL opened at $316.83 on Thursday. Apple Inc. has a 1 year low of $223.78 and a 1 year high of $344.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The company has a market capitalization of $4.62 trillion, a price-to-earnings ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 1.09. The firm's fifty day moving average price is $309.95 and its two-hundred day moving average price is $286.52.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. KGI Securities cut Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective on the stock. in a research report on Monday, June 22nd. HSBC upgraded Apple from a "hold" rating to a "buy" rating and lifted their target price for the stock from $260.00 to $366.00 in a research note on Thursday, July 16th. Raymond James Financial restated a "market perform" rating on shares of Apple in a research report on Friday, July 31st. Monness Crespi & Hardt raised their price objective on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $330.53.

Insider Activity

In other news, insider Ben Borders sold 116 shares of the firm'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 value of $34,236.24. Following the completion of the transaction, the insider directly 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 legal 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. Also, SVP Jennifer Newstead sold 1,439 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $307.75, for a total transaction of $442,852.25. Following the transaction, the senior vice president directly owned 40,107 shares of the company's stock, valued at approximately $12,342,929.25. This represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.06% of the company's stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analyst upgrade and bullish outlook: Rothschild & Co. Redburn upgraded Apple from “Neutral” to “Buy” and raised its price target to $400, implying substantial upside. Morgan Stanley also identified Apple among large-cap technology stocks showing a bullish technical signal. Apple stock upgrade and price target
• Positive Sentiment: Apple positioned as an AI and volatility hedge: Analysts argue that Apple’s restrained AI infrastructure spending limits capital-expenditure and valuation risk relative to peers committing hundreds of billions of dollars to AI. Some investors also view Apple as an underappreciated AI beneficiary through its installed base and potential improvements to Siri. Apple's low AI spending
• Positive Sentiment: Macro support: Retreating Treasury yields helped restore demand for mega-cap technology stocks, while Apple showed relative strength even as semiconductor shares and parts of the technology sector weakened. Apple stock and Treasury yields
• Positive Sentiment: Product optionality: Reports that a future foldable iPhone could support an estimated 11% increase in average iPhone prices provide a potential catalyst for revenue and margin growth, although the product remains unannounced. Apple foldable iPhone outlook

Institutional Investors Weigh In On Apple

Several institutional investors have recently added to or reduced their stakes in AAPL. Vanguard Group Inc. grew its position in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. State Street Corp lifted its holdings in Apple by 1.1% during the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker's stock worth $164,218,801,000 after purchasing an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker's stock worth $97,031,587,000 after purchasing an additional 1,866,103 shares in the last quarter. Morgan Stanley boosted its stake in Apple by 0.6% in the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker's stock worth $62,659,118,000 after purchasing an additional 1,379,651 shares during the period. Finally, Berkshire Hathaway Inc purchased a new position in Apple during the 2nd quarter valued at about $65,950,297,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

About Representative Case

Ed Case (Democratic Party) is a member of the U.S. House, representing Hawaii's 1st Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2027. Case (Democratic Party) ran for re-election to the U.S. House to represent Hawaii's 1st Congressional District. He won in the general election on November 5, 2024. After serving in the state legislature for eight years, Case represented Hawaii's 2nd Congressional District in the U.S. House of Representatives from 2003 to 2007. He also graduated from the UC Hastings College of Law and worked as a managing attorney at Bays Lung Rose & Holma and Carlsmith Ball, two law firms in Honolulu.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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