13,019 Shares in Apple Inc. $AAPL Purchased by Payne Capital Management LLC

Key Points

• Payne Capital Management acquired 13,019 Apple shares worth approximately $3.77 million in the second quarter, making Apple about 1% of its portfolio. Institutional investors and hedge funds collectively own 67.73% of AAPL.
• Apple reported strong quarterly results, with earnings of $2.02 per share and revenue of $109.42 billion, representing 16.4% year-over-year growth. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $340.14.
• Apple faces significant legal and regulatory risks, including a potential $5.7 billion patent award, a revived U.K. competition case, and an expanded investigation in India. Company insiders have sold 11,031 shares worth about $3.54 million over the past 90 days.

Payne Capital Management LLC acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,019 shares of the iPhone maker's stock, valued at approximately $3,767,000. Apple makes up approximately 1.0% of Payne Capital Management LLC's investment portfolio, making the stock its 11th largest position.

Several other hedge funds have also recently bought and sold shares of AAPL. Avenir Tech Ltd bought a new position in shares of Apple in the 2nd quarter valued at approximately $29,000. Longfellow Investment Management Co. LLC bought a new position in shares of Apple in the second quarter valued at approximately $30,000. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the 4th quarter worth $41,000. Ascentis Wealth Management LLC boosted its stake in Apple by 822.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock valued at $85,000 after purchasing an additional 260,792 shares during the period. Finally, Basso Capital Management L.P. bought a new position in Apple during the fourth quarter worth $88,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total transaction of $815,803.94. Following the completion of the transaction, the senior vice president owned 44,391 shares in the company, valued at approximately $15,095,603.46. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 11,031 shares of company stock valued at $3,535,759 in the last 90 days. 0.06% of the stock is owned by company insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday?
• Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump
• Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters
• Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight
• Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales
• Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales

Apple Trading Down 0.8%

NASDAQ AAPL opened at $338.40 on Tuesday. The stock has a 50-day simple moving average of $321.79 and a 200 day simple moving average of $298.18. The company has a market capitalization of $4.94 trillion, a PE ratio of 38.81, a P/E/G ratio of 2.96 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for 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 for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. Research analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. HSBC restated a "buy" rating and issued a $366.00 target price on shares of Apple in a research note on Tuesday, September 8th. CICC Research raised their price target on shares of Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. Phillip Securities lifted their price objective on Apple from $290.00 to $300.00 and gave the company a "neutral" rating in a report on Monday, September 14th. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Thursday, September 10th. Finally, Robert W. Baird increased their target price on shares of Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $340.14.

About Apple

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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