28,321,085 Apple Inc. $AAPL Shares Acquired by State Street Corp

Key Points

• State Street increased its Apple position by 4.7%, acquiring 28.3 million additional shares to hold 630.7 million shares valued at approximately $182.9 billion. Institutional investors collectively own 67.73% of Apple.
• Apple insiders sold 279,383 shares worth about $92.9 million during the last quarter, including sales by CEO Tim Cook and SVP Deirdre O’Brien to cover tax obligations tied to vested equity awards.
• Apple reported quarterly earnings and revenue above analyst expectations, while analysts maintained a generally positive outlook with a consensus rating of “Moderate Buy” and a $340.39 target price.

State Street Corp raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,662,494 shares of the iPhone maker's stock after acquiring an additional 28,321,085 shares during the quarter. Apple makes up about 3.6% of State Street Corp's holdings, making the stock its 2nd largest holding. State Street Corp owned 4.32% of Apple worth $182,897,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Berkshire Hathaway Inc acquired a new stake in shares of Apple in the second quarter valued at about $65,950,297,000. Bank of America Corp DE acquired a new position in Apple during the second quarter worth about $36,986,090,000. Legal & General Group Plc acquired a new position in Apple during the second quarter worth about $30,443,242,000. Amundi boosted its position in Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after acquiring an additional 13,780,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Apple by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock valued at $14,858,200,000 after acquiring an additional 979,832 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In related news, insider Timothy D. Cook sold 191,753 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.96, for a total value of $63,846,078.88. Following the transaction, the insider owned 3,264,168 shares of the company's stock, valued at $1,086,837,377.28. This represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the completion of the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 279,383 shares of company stock worth $92,912,517 in the last quarter. Company insiders own 0.06% of the company's stock.

Apple Stock Up 1.3%

NASDAQ:AAPL opened at $340.97 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock's fifty day moving average is $323.36 and its two-hundred day moving average is $303.99. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $345.34. The stock has a market capitalization of $4.98 trillion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company's revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 earnings per share. Research analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley set a $355.00 price target on Apple and gave the company an "overweight" rating in a report on Thursday, October 1st. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Arete Research upped their target price on Apple from $305.00 to $335.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Citigroup restated a "buy" rating on shares of Apple in a report on Thursday, September 10th. Finally, CICC Research raised their target price on Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $340.39.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan raised its Apple price target from $340 to $360 and maintained an “Overweight” rating, citing improved iPhone 18 Pro demand. Bank of America reiterated its Buy rating and kept a $370 target, viewing potential Starlink competition as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Apple reportedly reached a 22% share of the global smartphone market in the third quarter, supported by premium iPhone 18 Pro demand despite an overall industry shipment decline. Reports of strong orders for a new foldable iPhone also provided an additional growth narrative. Apple Stock Nears Record High as iPhone Market Share Hits 22%
• Positive Sentiment: Investors are anticipating Apple’s expanded smart-home strategy, including a rumored HomeView hub and updated Apple TV and HomePod mini. A successful launch could strengthen Apple’s ecosystem and open a new product category. Will the HomeView Be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession is proceeding with John Ternus replacing Tim Cook, while Cook becomes executive chairman. Apple also met with Chinese officials, underscoring the importance of maintaining stable business and trade relations in its largest overseas market. Tim Cook Meets China’s Vice Premier
• Negative Sentiment: SpaceX’s planned Starlink mobile service could pressure wireless-carrier subsidies that support iPhone sales and eventually create a competing smartphone ecosystem. SpaceX’s Starlink Could Pose Risks to Apple
• Negative Sentiment: Reported supplier order reductions and rising memory costs are renewing concerns about iPhone 18 demand and margins. Google’s integration of wearable data with more than 160 lab tests also increases competition for Apple’s health-platform advantage. iPhone 18 Demand and Supplier Order Cuts

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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