Altman Advisors Inc. Purchases New Stake in Apple Inc. $AAPL

Key Points

• Altman Advisors purchased 34,736 Apple shares worth approximately $10.1 million in the second quarter, making Apple its fourth-largest portfolio holding at 3.6%. Institutional investors collectively own 67.73% of the stock.
• Apple reported quarterly earnings of $2.02 per share, exceeding estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also paid a quarterly dividend of $0.27 per share, yielding about 0.3%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $340.14. Apple shares opened at $336.13, near their 12-month high of $344.57, while an insider recently sold 1,439 shares.

Altman Advisors Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 34,736 shares of the iPhone maker's stock, valued at approximately $10,051,000. Apple comprises about 3.6% of Altman Advisors Inc.'s investment portfolio, making the stock its 4th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Wealth Management Inc. boosted its holdings in shares of Apple by 0.3% during the 2nd quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker's stock worth $3,351,000 after buying an additional 30 shares during the period. Evansbrook LLC grew its stake in Apple by 0.4% in the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock valued at $2,054,000 after buying an additional 34 shares during the last quarter. JMG Financial Group Ltd. raised its holdings in Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock valued at $1,295,000 after acquiring an additional 35 shares during the period. Advocate Investing Services LLC raised its holdings in Apple by 0.5% in the 2nd quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker's stock valued at $2,271,000 after acquiring an additional 39 shares during the period. Finally, Interactive Financial Advisors Inc. lifted its position in Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock worth $286,000 after acquiring an additional 40 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Performance

AAPL opened at $336.13 on Monday. The stock has a market capitalization of $4.91 trillion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.92 and a beta of 1.08. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a twelve month low of $240.21 and a twelve month high of $344.57. The company has a 50-day simple moving average of $320.24 and a 200 day simple moving average of $294.90.

Apple (NASDAQ:AAPL - Get Free Report) last released its 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 net margin of 27.62% and a return on equity of 135.46%. The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $1.57 EPS. Analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Buying and Selling

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the business'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 transaction of $456,177.39. Following the completion of the transaction, the senior vice president directly owned 35,790 shares in the company, valued at $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 8,632 shares of company stock worth $2,719,955 in the last three months. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Raymond James Financial restated a "market perform" rating on shares of Apple in a report on Friday, July 31st. BTIG Research started coverage on Apple in a report on Monday, August 17th. They set a "neutral" rating for the company. Bank of America restated a "buy" rating and issued a $370.00 price target on shares of Apple in a research note on Thursday. Morgan Stanley reaffirmed an "overweight" rating and issued a $360.00 price objective on shares of Apple in a report on Wednesday, September 2nd. Finally, Citigroup reiterated a "buy" rating on shares of Apple in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $340.14.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Evercore ISI raised its Apple price target to $380 from $365 and maintained an outperform view. A survey of roughly 4,000 consumers indicated a potentially stronger-than-expected iPhone upgrade cycle and a higher average selling price. iPhone 18 Pro Hits Stores Today
• Positive Sentiment: iPhone 18 Pro sales are supported by carrier trade-in promotions. Bank of America said incentives can offset the $100 price increase, reducing the risk that higher prices will weaken demand. Apple’s iPhone 18 Lineup Keeps Bank of America Bullish
• Positive Sentiment: Apple’s ecosystem is gaining additional reach. General Motors plans to restore Apple CarPlay after consumer backlash, while Apple is reportedly preparing an Apple Pay launch in India with Axis Bank. These developments could support services engagement and ecosystem adoption. GM Is Re-downloading Apple CarPlay
• Neutral Sentiment: Initial iPhone 18 Pro demand indicators are mixed. Quick-commerce shortages in India suggest strong localized demand, but UBS cited muted wait times in several major markets. Investors are also assessing whether customers may delay purchases for Apple’s roughly $1,999 foldable iPhone Duo. Apple iPhone 18 Seeing Muted Initial Wait Times
• Negative Sentiment: Risks include premium pricing, valuation and regulatory pressure. Analysts warn that expensive devices could limit adoption in price-sensitive markets such as India. More than 1,600 Italian Apple store employees also struck on launch day, while Apple continues to challenge a potential UK encryption backdoor order and faces European legal scrutiny. Italian Apple Store Employees Strike

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.

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.