Apple Inc. $AAPL Position Raised by Gamco Investors INC. ET AL

Key Points

• Gamco Investors increased its Apple stake by 6.1% in the first quarter, adding 6,915 shares to reach 120,827 shares valued at approximately $30.7 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02, beating estimates by $0.13, while revenue rose 16.4% year over year to $109.42 billion. Analysts have a “Moderate Buy” consensus rating and an average price target of $330.44.
• Apple declared a quarterly dividend of $0.27 per share, equal to $1.08 annually and a 0.3% yield. The company’s shares recently opened at $313.33, near the analyst consensus target.

Gamco Investors INC. ET AL raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,827 shares of the iPhone maker's stock after purchasing an additional 6,915 shares during the quarter. Gamco Investors INC. ET AL's holdings in Apple were worth $30,665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new stake in Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $69,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $76,000. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $313.33 on Monday. The firm has a 50 day simple moving average of $309.45 and a 200 day simple moving average of $283.42. Apple Inc. has a 52 week low of $219.25 and a 52 week high of $344.57. 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 company has a market cap of $4.57 trillion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

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 company had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company's revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. As a group, research analysts expect that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's payout ratio is currently 12.39%.

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the company's stock in a transaction 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 transaction, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company's stock.

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%

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent research reports. Robert W. Baird increased their target price on shares of Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. UBS Group restated a "neutral" rating on shares of Apple in a research report on Friday, July 31st. Evercore reaffirmed an "outperform" rating on shares of Apple in a report on Wednesday, July 8th. Bank of America reiterated a "buy" rating and set a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. Finally, Phillip Securities lowered Apple from a "hold" rating to a "moderate sell" rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $330.44.

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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