24,325 Shares of Apple Inc. $AAPL Bought by Parvin Asset Management LLC

Key Points

• Parvin Asset Management acquired 24,325 Apple shares worth approximately $7.04 million, making Apple its largest holding at 5.5% of the portfolio. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02, exceeding the $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27, equivalent to a 0.3% annual yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $340.14, though opinions range from a $365 target and “overweight” rating to a $245 target and “underweight” rating.

Parvin Asset Management LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,325 shares of the iPhone maker's stock, valued at approximately $7,039,000. Apple accounts for approximately 5.5% of Parvin Asset Management LLC's holdings, making the stock its largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc acquired a new position in shares of Apple during the second quarter worth about $65,950,297,000. Bank of America Corp DE bought a new stake in shares of Apple in the 2nd quarter worth about $36,986,090,000. Legal & General Group Plc acquired a new stake in shares of Apple in the 2nd quarter valued at about $30,443,242,000. Nuveen LLC lifted its position in shares of Apple by 3.8% during the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock worth $20,389,750,000 after purchasing an additional 2,725,121 shares during the last quarter. Finally, Amundi raised its position in shares of Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after acquiring an additional 13,780,080 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Down 0.8%

AAPL opened at $338.40 on Tuesday. 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 business has a 50 day moving average of $321.79 and a 200-day moving average of $298.18. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34. The stock has a market capitalization of $4.94 trillion, a price-to-earnings ratio of 38.81, a P/E/G ratio of 2.96 and a beta of 1.08.

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. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The business's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research report on Wednesday, July 15th. Wells Fargo & Company restated an "overweight" rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a report on Friday, July 31st. Barclays reaffirmed an "underweight" rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research note on Friday, July 31st. BTIG Research assumed coverage on Apple in a report on Monday, August 17th. They set a "neutral" rating for the company. Finally, Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $340.14.

Insider Buying and Selling at Apple

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total transaction of $815,803.94. Following the transaction, the senior vice president directly owned 44,391 shares in the company, valued at approximately $15,095,603.46. This represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 11,031 shares of company stock worth $3,535,759 in the last ninety days. Insiders own 0.06% of the company's stock.

Apple News Summary

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 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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