Apple Inc. $AAPL Holdings Raised by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Apple position by 3.5% in the second quarter, adding 117,022 shares for a total of 3.48 million shares valued at approximately $1.01 billion. Apple now represents about 3% of the firm’s portfolio and is its largest holding.
• Apple reported quarterly EPS of $2.02, exceeding estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $340.02, though concerns include Apple’s elevated valuation, potential margin pressure, and reports of softer iPhone demand.

NewEdge Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,482,619 shares of the iPhone maker's stock after buying an additional 117,022 shares during the period. Apple accounts for approximately 3.0% of NewEdge Advisors LLC's portfolio, making the stock its largest holding. NewEdge Advisors LLC's holdings in Apple were worth $1,007,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Berkshire Hathaway Inc acquired a new position in shares of Apple in the 2nd quarter valued at about $65,950,297,000. Bank of America Corp DE acquired a new stake in Apple during the 2nd quarter worth approximately $36,986,090,000. Legal & General Group Plc purchased a new position in Apple in the second quarter valued at approximately $30,443,242,000. Amundi lifted its position in Apple by 23.2% during the first 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. Finally, Dimensional Fund Advisors LP grew its stake in Apple by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock worth $14,858,200,000 after buying an additional 979,832 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 1.1%

AAPL stock opened at $336.64 on Friday. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $345.34. 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 company has a market capitalization of $4.91 trillion, a P/E ratio of 38.61, a PEG ratio of 2.68 and a beta of 1.07. The firm has a 50 day simple moving average of $322.61 and a 200-day simple moving average of $302.99.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the prior year, the company posted $1.57 earnings per share. The firm's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared 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 was Monday, August 10th. Apple's dividend payout ratio (DPR) is 12.39%.

Insider Transactions at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $332.01, for a total transaction of $796,491.99. Following the sale, the senior vice president directly owned 39,593 shares of the company's stock, valued at approximately $13,145,271.93. This represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Ternus sold 25,412 shares of the firm'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 in the company, valued at $19,832,236.98. This trade represents a 29.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 279,383 shares of company stock valued at $92,912,517 in the last three months. Corporate insiders own 0.06% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AAPL shares. DZ Bank cut shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 price target for the company. in a research report on Tuesday, August 4th. Arete Research raised their price objective on Apple from $305.00 to $335.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Robert W. Baird boosted their price objective on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Citic Securities upped their target price on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Finally, Rothschild & Co Redburn set a $400.00 target price on Apple and gave the company a "buy" rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $340.02.

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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