6,177 Shares in Apple Inc. $AAPL Acquired by Fortress Financial Group LLC

Key Points

• Fortress Financial Group acquired 6,177 Apple shares worth approximately $1.79 million in the second quarter, making Apple about 0.5% of its portfolio. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share and revenue of $109.42 billion, beating analyst expectations, while revenue increased 16.4% year over year. The company also paid a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $340.14, although some firms recently downgraded the stock to “Hold.” Apple shares opened at $337.02, down 0.8%.

Fortress Financial Group LLC purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,177 shares of the iPhone maker's stock, valued at approximately $1,787,000. Apple makes up approximately 0.5% of Fortress Financial Group LLC's investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Longfellow Investment Management Co. LLC acquired a new stake in Apple during the second quarter valued at approximately $30,000. Lifetime Wealth Management P.C. bought a new stake in Apple during the fourth quarter worth approximately $41,000. Ascentis Wealth Management LLC grew its position in Apple by 822.7% in the second quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock worth $85,000 after buying an additional 260,792 shares during the last quarter. Basso Capital Management L.P. acquired a new position in Apple in the fourth quarter worth approximately $88,000. Finally, Bard Associates Inc. bought a new position in shares of Apple in the fourth quarter valued at $109,000. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total value of $456,177.39. Following the transaction, the senior vice president owned 35,790 shares in the company, valued at approximately $11,345,787.90. This represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 8,632 shares of company stock valued at $2,719,955. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 0.8%

Shares of Apple stock opened at $337.02 on Thursday. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34. The company has a market cap of $4.92 trillion, a P/E ratio of 38.65, a P/E/G ratio of 2.95 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. The stock has a 50-day moving average price of $321.36 and a 200 day moving average price of $296.51.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for the quarter, compared to analysts' expectations 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 in the previous year, the business posted $1.57 EPS. As a group, analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. KGI Securities downgraded Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective for the company. in a research report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft cut Apple from a "buy" rating to a "hold" rating in a report on Monday, August 17th. Piper Sandler started coverage on Apple in a research report on Monday, August 17th. They set an "overweight" rating on the stock. Robert W. Baird upped their target price on Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $360.00 target price on shares of Apple in a report on Wednesday, September 2nd. 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $340.14.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reaffirmed its Buy rating and assigned a $370 price target, implying further upside. The firm highlighted improving iPhone 18 Pro Max availability trends, while premium demand remains relatively resilient. BofA Sends Stark Message to Apple Stock Investors on iPhone 18
• Positive Sentiment: Apple’s new M6 Mac mini and M5 Mac Studio are being marketed as lower-cost alternatives to cloud-based AI infrastructure, potentially expanding Apple’s enterprise opportunity. Their ability to run large AI models locally could create a new hardware growth driver. With new Macs, Apple aims to take on Microsoft and Nvidia
• Positive Sentiment: Reports that Apple is developing a screenless fitness tracker to compete with Whoop and Oura point to potential long-term expansion in health and wearables, although a launch may not occur until 2028. Apple could take on Whoop with a new fitness tracker

About Apple

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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