67,072 Apple Inc. $AAPL Shares Purchased by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its Apple position by 10.7%, purchasing 67,072 shares to reach 693,928 shares valued at approximately $201 million. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, beating analyst expectations, while revenue grew 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share, equivalent to a 0.3% yield.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $340.39, though concerns include potential Starlink competition, supplier order reductions and rising memory costs. Apple insiders also sold shares primarily to cover tax obligations related to vested equity awards.

Envestnet Portfolio Solutions Inc. grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 693,928 shares of the iPhone maker's stock after purchasing an additional 67,072 shares during the period. Apple makes up approximately 0.9% of Envestnet Portfolio Solutions Inc.'s investment portfolio, making the stock its 23rd largest holding. Envestnet Portfolio Solutions Inc.'s holdings in Apple were worth $201,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AAPL. Prospect Hill Management LLC acquired a new stake in Apple in the 2nd quarter valued at $146,370,000. Focus Partners Advisor Solutions LLC bought a new stake in Apple during the 2nd quarter worth about $168,646,000. Wealthfront Advisers LLC bought a new stake in Apple during the 2nd quarter worth about $482,388,000. Satovsky Asset Management LLC bought a new stake in Apple during the 2nd quarter worth about $16,064,000. Finally, Saranac Partners Ltd acquired a new position in shares of Apple during the 2nd quarter worth about $9,513,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL opened at $340.97 on Tuesday. The firm has a market capitalization of $4.98 trillion, a PE ratio of 39.10, a PEG ratio of 2.68 and a beta of 1.07. The company's 50-day moving average is $323.36 and its 200-day moving average is $303.99. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 EPS. Equities analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were issued a $0.27 dividend. 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 dividend payout ratio is currently 12.39%.

Key Apple News

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

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the firm'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 transaction of $15,467,020.38. Following the completion of the sale, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Ternus sold 25,412 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the sale, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 279,383 shares of company stock valued at $92,912,517. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Rothschild & Co Redburn set a $400.00 price objective on Apple and gave the company a "buy" rating in a report on Monday, August 17th. Loop Capital set a $380.00 target price on Apple in a research report on Friday, September 18th. Morgan Stanley set a $355.00 target price on Apple and gave the stock an "overweight" rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft cut Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $340.39.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.