65,147 Shares of Apple Inc. $AAPL Acquired by WNY Asset Management LLC

Key Points

• WNY Asset Management acquired 65,147 Apple shares worth approximately $18.85 million, making Apple 1.7% of its portfolio. Institutional investors collectively own 67.73% of Apple’s outstanding stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $340.14. Apple recently exceeded earnings expectations, reporting $2.02 EPS and $109.42 billion in revenue, up 16.4% year over year.
• Apple faces several legal and regulatory risks, including a potential $5.7 billion patent-infringement award, a revived U.K. consumer case, and an expanded Indian investigation into repair costs.

WNY Asset Management LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 65,147 shares of the iPhone maker's stock, valued at approximately $18,851,000. Apple makes up about 1.7% of WNY Asset Management LLC's portfolio, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc purchased a new stake in Apple in the second quarter worth $65,950,297,000. Bank of America Corp DE bought a new position in Apple in the second quarter worth $36,986,090,000. Legal & General Group Plc purchased a new position in Apple during the second quarter valued at $30,443,242,000. Nuveen LLC lifted its position in Apple by 3.8% during the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock valued at $20,389,750,000 after buying an additional 2,725,121 shares during the period. Finally, Amundi boosted its holdings 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 buying an additional 13,780,080 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the transaction, the senior vice president owned 44,391 shares in the company, valued at approximately $15,095,603.46. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 11,031 shares of company stock valued at $3,535,759 over the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. China Renaissance downgraded shares of Apple from a "buy" rating to a "hold" rating and reduced their target price for the stock from $329.00 to $280.00 in a research report on Tuesday, August 4th. Barclays reissued an "underweight" rating and set a $245.00 price target (down from $253.00) on shares of Apple in a research report on Friday, July 31st. Robert W. Baird boosted their price objective on shares of Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Oppenheimer restated a "market perform" rating on shares of Apple in a report on Thursday, September 10th. Finally, Maxim Group raised their target price on shares of Apple from $350.00 to $380.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $340.14.

Key Headlines Impacting Apple

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 Price Performance

Shares of NASDAQ:AAPL opened at $338.40 on Tuesday. The business has a fifty day moving average price of $321.79 and a 200-day moving average price of $298.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The company has a market capitalization of $4.94 trillion, a PE ratio of 38.81, a PEG ratio of 2.96 and a beta of 1.08. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34.

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, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter in the previous year, the business posted $1.57 EPS. Apple's revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders 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 annualized dividend and a yield of 0.3%. Apple's payout ratio is 12.39%.

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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