Apple Inc. $AAPL Holdings Lifted by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Apple stake by 10.5% in the second quarter, adding 252,894 shares for a total of 2.66 million shares valued at approximately $771.1 million. Apple now represents about 5.5% of the fund’s portfolio and is its second-largest holding.
• Apple reported quarterly revenue of $109.42 billion and EPS of $2.02, exceeding analyst estimates, while revenue grew 16.4% year over year. The stock opened at $340.97, near its 12-month high of $345.34, and institutional investors own 67.73% of the shares.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $340.39. However, potential risks include Starlink competition, supplier order reductions, rising memory costs, and concerns about iPhone demand and margins.

QRG Capital Management Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,659,362 shares of the iPhone maker's stock after buying an additional 252,894 shares during the period. Apple accounts for about 5.5% of QRG Capital Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. QRG Capital Management Inc.'s holdings in Apple were worth $771,119,000 at the end of the most recent quarter.

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

Key Stories Impacting Apple

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

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Morgan Stanley set a $355.00 price objective on shares of Apple and gave the company an "overweight" rating in a research note on Thursday, October 1st. Citigroup reissued a "buy" rating on shares of Apple in a report on Thursday, September 10th. Seaport Research Partners downgraded Apple from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. China Renaissance downgraded Apple from a "buy" rating to a "hold" rating and cut their target price for the stock from $329.00 to $280.00 in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $340.39.

Apple Stock Performance

NASDAQ:AAPL opened at $340.97 on Tuesday. The company has a 50-day moving average of $323.36 and a 200-day moving average of $303.99. The firm has a market cap of $4.98 trillion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $345.34.

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, 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 business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the previous year, the firm earned $1.57 EPS. The business's revenue for the quarter was up 16.4% on a year-over-year basis. Analysts forecast that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In other Apple news, CEO John Ternus sold 25,412 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total value of $796,491.99. Following the sale, the senior vice president owned 39,593 shares of the company's stock, valued at $13,145,271.93. This trade represents a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 corporate insiders.

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.