28,653 Shares in Apple Inc. $AAPL Purchased by Tortuga Wealth Management Inc

Key Points

• Tortuga Wealth Management purchased 28,653 Apple shares worth approximately $8.29 million, making Apple its third-largest holding and representing 6.3% of its portfolio. Institutional investors own 67.73% of Apple’s stock.
• Apple exceeded quarterly expectations with earnings of $2.02 per share and revenue of $109.42 billion, while revenue grew 16.4% year over year. The company also paid a quarterly dividend of $0.27 per share, yielding 0.3% annually.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $331.53. Potential growth from a foldable iPhone and premium pricing is balanced by AI-related component costs, strong competition and the risk of a “sell-the-news” reaction.

Tortuga Wealth Management Inc purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 28,653 shares of the iPhone maker's stock, valued at approximately $8,291,000. Apple comprises about 6.3% of Tortuga Wealth Management Inc's investment portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple in the fourth quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management purchased a new position in Apple during the 4th quarter valued at $65,000. Timmons Wealth Management LLC bought a new position in Apple in the 4th quarter valued at $69,000. Finally, Inspire Investing LLC bought a new position in Apple in the 4th quarter valued at $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $316.22 on Wednesday. Apple Inc. has a twelve month low of $225.95 and a twelve month high of $344.57. 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 stock has a fifty day simple moving average of $316.95 and a two-hundred day simple moving average of $291.35. The stock has a market capitalization of $4.61 trillion, a price-to-earnings ratio of 36.26, a P/E/G ratio of 2.77 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 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm 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 business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. On average, analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Apple from $345.00 to $340.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating in a research note on Monday, August 3rd. HSBC reiterated a "buy" rating and set a $366.00 price objective on shares of Apple in a report on Tuesday. Finally, Rothschild & Co Redburn set a $400.00 price objective on shares of Apple and gave the company a "buy" rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $331.53.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is expected to introduce its first foldable iPhone, alongside the iPhone 18 Pro and Pro Max. Morgan Stanley estimates the foldable could ship about 6.5 million units in the December quarter and generate approximately $14 billion in revenue, creating a potentially significant new growth category. Apple’s foldable iPhone could add $14 billion
• Positive Sentiment: Bank of America maintained a Buy rating and a $380 price target, anticipating a roughly $2,099 foldable model and higher prices for the iPhone 18 Pro lineup. Premium pricing could support revenue and margins if demand holds. Apple’s Wednesday event and Bank of America’s price target
• Positive Sentiment: Apple’s acquisition of Sonera Magnetics, a company developing non-invasive neural-signal sensors, could strengthen its long-term health, wearable and human-computer-interface ambitions. The deal was completed in May but became public through a European Commission notice. Apple Purchases Neural Signal Sensor Company Sonera
• Neutral Sentiment: The launch is also the first major keynote for new CEO John Ternus. Investors will look for evidence that his leadership can accelerate hardware innovation while addressing Apple’s perceived artificial-intelligence shortcomings. Apple’s New CEO Has a Hardware Event and an AI Problem
• Neutral Sentiment: Historical analysis suggests Apple stock often has a muted or mixed reaction after major iPhone reveals, increasing the risk that strong results are already reflected in the valuation. Berkshire Hathaway’s continued large Apple position provides a supportive long-term signal but is not a near-term catalyst. How Apple stock usually reacts to big iPhone reveal events
• Negative Sentiment: AI data-center demand is diverting premium memory capacity away from smartphone components, potentially raising Apple’s costs and pressuring iPhone margins. AI diverts memory from phones
• Negative Sentiment: Huawei and Xiaomi have launched premium foldables ahead of Apple, raising competitive pressure—particularly in China. Analysts also warn that the stock could experience a “sell-the-news” reaction because expectations and valuation are high. Huawei launches a tri-fold smartphone ahead of Apple

Insider Transactions at Apple

In other news, insider Ben Borders sold 116 shares of the business's stock in a transaction dated 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 sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the completion of the sale, the senior vice president directly owned 35,790 shares of the company's stock, valued at $11,345,787.90. The trade was a 3.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,872 shares of company stock worth $1,823,201 in the last three months. Insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company's ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

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