Apple Inc. $AAPL is Klingman & Associates LLC's 8th Largest Position

Key Points

• Klingman & Associates reduced its Apple stake by 0.8% in the first quarter, selling 2,170 shares. It still owned 269,842 shares worth approximately $68.5 million, representing 3.3% of its portfolio and its eighth-largest position.
• Institutional ownership remains substantial at 67.73%, with several investors increasing their Apple holdings and others establishing new positions.
• Apple exceeded quarterly earnings and revenue expectations, reporting $2.02 in EPS and $109.42 billion in revenue, up 16.4% year over year. The company also declared a $0.27 quarterly dividend, while analysts maintain a “Moderate Buy” consensus with an average price target of $330.44.

Klingman & Associates LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 269,842 shares of the iPhone maker's stock after selling 2,170 shares during the quarter. Apple makes up about 3.3% of Klingman & Associates LLC's portfolio, making the stock its 8th biggest position. Klingman & Associates LLC's holdings in Apple were worth $68,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Rainier Family Wealth Inc. boosted its position in Apple by 14.1% in the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock worth $6,189,000 after purchasing an additional 3,014 shares in the last quarter. Eaton Cambridge Inc. increased its holdings in shares of Apple by 21.3% during the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker's stock valued at $3,545,000 after purchasing an additional 2,450 shares in the last quarter. Torren Management LLC acquired a new position in shares of Apple in the 4th quarter valued at $1,178,000. Summit Wealth Partners LLC lifted its stake in shares of Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock valued at $8,880,000 after purchasing an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp purchased a new stake in Apple during the fourth quarter worth $105,482,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $313.33 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a market capitalization of $4.57 trillion, a PE ratio of 35.93, a P/E/G ratio of 2.68 and a beta of 1.09. Apple Inc. has a fifty-two week low of $219.25 and a fifty-two week high of $344.57. The company has a fifty day moving average of $309.45 and a two-hundred day moving average of $283.42.

Apple (NASDAQ:AAPL - Get Free Report) last announced its 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. The business 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 company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 earnings per share. As a group, research analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple's payout ratio is presently 12.39%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Citigroup restated a "buy" rating and set a $365.00 price target (up from $315.00) on shares of Apple in a research report on Monday, July 13th. KeyCorp reissued an "underweight" rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, July 28th. Tigress Financial reissued a "strong-buy" rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. Evercore restated an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. Finally, HSBC upgraded Apple from a "hold" rating to a "buy" rating and lifted their price target for the company from $260.00 to $366.00 in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $330.44.

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 116 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. 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. Company insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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.

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