Apple Inc. $AAPL Position Trimmed by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel reduced its Apple stake by 8.6% in the second quarter, selling 56,897 shares and retaining 607,488 shares valued at approximately $175.8 million. Apple remains the firm’s fourth-largest holding and represents 3.5% of its portfolio.
• Apple’s upcoming product event is expected to feature its first foldable iPhone alongside the iPhone 18 Pro models, creating a potential new revenue opportunity amid strong recent iPhone sales and growth prospects for Services and on-device AI.
• Investors face risks from Apple’s premium valuation, rising component costs, potential price increases and intensifying competition from Huawei and Xiaomi in foldable smartphones. Analysts nevertheless maintain a consensus “Moderate Buy” rating with a $330.61 price target.

Carnegie Investment Counsel decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 607,488 shares of the iPhone maker's stock after selling 56,897 shares during the quarter. Apple makes up 3.5% of Carnegie Investment Counsel's portfolio, making the stock its 4th biggest holding. Carnegie Investment Counsel's holdings in Apple were worth $175,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. State Street Corp boosted its position in shares of Apple by 1.1% in the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker's stock worth $164,218,801,000 after purchasing an additional 6,555,392 shares during the period. Geode Capital Management LLC increased its stake in shares of Apple by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker's stock worth $97,031,587,000 after purchasing an additional 1,866,103 shares in the last quarter. Morgan Stanley increased its stake in shares of Apple by 0.6% in the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker's stock worth $62,659,118,000 after purchasing an additional 1,379,651 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Apple during the 4th quarter valued at $52,266,468,000. Institutional investors own 67.73% of the company's stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is expected to unveil its first foldable iPhone, alongside the iPhone 18 Pro and Pro Max, at John Ternus’s first major keynote as CEO. Analysts at Morgan Stanley estimate the foldable could represent a roughly $14 billion revenue opportunity if Apple can stimulate premium-device demand. Apple Faces Its Biggest iPhone Test in Years
• Positive Sentiment: Recent iPhone sales growth of more than 20% for three consecutive quarters, a large installed base and potential on-device artificial-intelligence features provide a favorable backdrop for the launch. Apple’s higher Apple TV and Apple One prices could also support Services revenue and margins. Apple’s New Mac Mini and Studio Bet Big on On-Device AI
• Neutral Sentiment: The leadership transition from Tim Cook to John Ternus is placing additional importance on Wednesday’s event. Investors are looking for evidence that Ternus can maintain Apple’s long-term innovation and shareholder-return record while emphasizing hardware development. Tim Cook Delivered a 2,720% Total Return
• Neutral Sentiment: Apple’s broad ecosystem and substantial cash generation remain important supports for the investment case, but the stock’s premium valuation means the market may already be pricing in a successful product cycle and strong demand.
• Negative Sentiment: KeyBanc warned that rising memory and component costs could force Apple to raise prices. Broad price increases could cause “sticker shock” and reduce unit volumes, while selective increases could pressure gross margins. KeyBanc Delivers Stark Warning on Apple Stock
• Negative Sentiment: Huawei and Xiaomi have introduced premium foldable devices ahead of Apple’s launch, intensifying competition—particularly in China, an important but challenging market for Apple. Huawei’s tri-fold Mate XT2 raises the bar on design and pricing. Huawei Unveils New Tri-Fold Smartphone
• Negative Sentiment: Apple faces a costly execution test: a premium foldable near $2,000 must generate meaningful incremental demand without weakening margins or cannibalizing existing iPhone sales. Disappointing specifications, pricing or guidance could weigh on the shares after the event.

Apple Price Performance

NASDAQ:AAPL opened at $319.97 on Tuesday. The business's 50-day moving average is $316.41 and its 200 day moving average is $290.98. Apple Inc. has a 12 month low of $225.95 and a 12 month high of $344.57. The company has a market capitalization of $4.67 trillion, a P/E ratio of 36.69, a P/E/G ratio of 2.77 and a beta of 1.08. 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 (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 EPS. On average, equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's payout ratio is currently 12.39%.

Insider Buying and Selling at Apple

In related news, SVP Jennifer Newstead sold 1,439 shares of the company's stock in a transaction 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 sale, the senior vice president owned 35,790 shares of the company's stock, valued at $11,345,787.90. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ben Borders sold 116 shares of Apple 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 completion of the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,872 shares of company stock worth $1,823,201 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on AAPL. Jefferies Financial Group cut shares of Apple from a "buy" rating to an "underperform" rating and lowered their target price for the company from $285.56 to $263.66 in a research note on Monday, August 10th. Barclays reissued an "underweight" rating and set a $245.00 price target (down from $253.00) on shares of Apple in a report on Friday, July 31st. Piper Sandler initiated coverage on Apple in a research report on Monday, August 17th. They issued an "overweight" rating on the stock. Citigroup reaffirmed a "buy" rating and issued a $365.00 price objective (up from $315.00) on shares of Apple in a research note on Monday, July 13th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Apple in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $330.61.

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.

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