1,951 Apple Inc. $AAPL Shares Purchased by Chokshi & Queen Wealth Advisors Inc

Key Points

• Chokshi & Queen Wealth Advisors increased its Apple stake by 2.1%, purchasing 1,951 shares to own 95,107 shares worth approximately $27.5 million. Apple represents 12.7% of the firm’s portfolio, while institutional investors own 67.73% of the stock.
• Apple shares opened at $336.67, near their 52-week high, after reporting quarterly revenue growth of 16.4% and earnings that exceeded analyst expectations. The stock trades at a forward-looking premium valuation, with a price-to-earnings ratio of 38.61.
• Wall Street’s consensus rating remains “Moderate Buy” with an average price target of $340.02, although Morgan Stanley cited margin risks from softer iPhone pricing and higher memory costs. Insiders have sold shares recently, including CEO John Ternus’s sale of $8.46 million worth of stock to cover tax obligations.

Chokshi & Queen Wealth Advisors Inc grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,107 shares of the iPhone maker's stock after purchasing an additional 1,951 shares during the period. Apple comprises 12.7% of Chokshi & Queen Wealth Advisors Inc's holdings, making the stock its 3rd largest holding. Chokshi & Queen Wealth Advisors Inc's holdings in Apple were worth $27,520,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Avenir Tech Ltd bought a new position in Apple during the 2nd quarter worth $29,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Apple during the 2nd quarter valued at $30,000. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the 4th quarter valued at $41,000. ABS Investment Management LLC acquired a new stake in shares of Apple during the 2nd quarter worth $376,168,000. Finally, Basso Capital Management L.P. acquired a new stake in shares of Apple during the 4th quarter worth $88,000. 67.73% of the stock is owned by institutional investors.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly partnering with LG Electronics to develop a smart-home lineup including a doorbell, smart lock, thermostat and other accessories tied to a new Apple home hub. The initiative could expand the HomeKit ecosystem, create new hardware and services revenue, and intensify competition with Amazon’s Ring and Google’s Nest. Apple partners with LG on smart-home devices
• Positive Sentiment: Apple’s App Store revenue growth reportedly rebounded to 5% in September after a weaker August. Continued Services momentum supports the company’s recurring-revenue profile, though investors are watching whether the improvement proves durable. Apple App Store growth rebounds
• Neutral Sentiment: CEO John Ternus sold 25,412 shares worth about $8.5 million to cover tax withholding tied to equity vesting. Because the transaction was tax-related rather than described as discretionary selling, it is unlikely to materially change the investment case, though it may create short-term headline pressure. Apple CEO stock sale
• Negative Sentiment: Morgan Stanley lowered its Apple price target to $355 despite raising revenue forecasts, citing softer iPhone pricing and higher memory-chip costs that could compress gross margins. The target is only modestly above recent trading levels, limiting perceived upside. Morgan Stanley cuts Apple price target
• Negative Sentiment: Several valuation comparisons highlight that investors pay substantially more for each dollar of Apple’s earnings than for Nvidia’s, despite Nvidia’s stronger recent profitability. With AAPL trading at an elevated earnings multiple, the stock may require sustained iPhone, Services and AI growth to justify its premium. Nvidia versus Apple valuation comparison

Insider Buying and Selling

In related news, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the transaction, the senior vice president directly owned 41,992 shares of the company's stock, valued at $14,116,870.56. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Ternus sold 25,412 shares of Apple stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the transaction, the chief executive officer directly owned 59,567 shares in the company, valued at $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 276,984 shares of company stock valued at $92,116,025. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AAPL. Moffett Nathanson restated a "neutral" rating and issued a $304.00 price target (up from $270.00) on shares of Apple in a research report on Tuesday, September 8th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Thursday, September 10th. KeyCorp reiterated an "underweight" rating on shares of Apple in a research note on Friday, September 4th. TD Cowen reissued a "buy" rating and issued a $400.00 target price on shares of Apple in a report on Thursday, September 10th. Finally, Loop Capital set a $380.00 target price on shares of Apple in a research report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $340.02.

Apple Stock Up 0.9%

Shares of NASDAQ AAPL opened at $336.67 on Thursday. The company has a 50 day simple moving average of $321.92 and a 200 day simple moving average of $302.11. The firm has a market cap of $4.91 trillion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.07. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company's revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 EPS. On average, research analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Dividend Announcement

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

Apple Company Profile

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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