Apple Inc. $AAPL Shares Acquired by Balefire LLC

Key Points

• Balefire LLC increased its Apple position by 11.1% in the second quarter, adding 2,876 shares for a total holding of 28,714 shares valued at approximately $8.3 million.
• Analysts maintain a broadly positive outlook, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $330.53, despite some recent downgrades to “Hold” or “Neutral.”
• Apple exceeded quarterly expectations, reporting $2.02 in EPS and $109.42 billion in revenue, while revenue grew 16.4% year over year; shares recently traded at $316.83 and the company declared a quarterly dividend of $0.27 per share.

Balefire LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,714 shares of the iPhone maker's stock after acquiring an additional 2,876 shares during the quarter. Apple comprises about 1.3% of Balefire LLC's investment portfolio, making the stock its 10th largest holding. Balefire LLC's holdings in Apple were worth $8,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the last quarter. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth about $65,000. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the fourth quarter valued at approximately $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple during the 4th quarter valued at $76,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AAPL. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered Apple from a "buy" rating to a "hold" rating in a report on Monday. DA Davidson restated a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research note on Friday, July 31st. Raymond James Financial reissued a "market perform" rating on shares of Apple in a research report on Friday, July 31st. Finally, Royal Bank Of Canada set a $365.00 price target on shares of Apple in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $330.53.

Apple Stock Up 2.2%

Shares of NASDAQ:AAPL opened at $316.83 on Thursday. The company has a market capitalization of $4.62 trillion, a PE ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 1.09. Apple Inc. has a 52 week low of $223.78 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's fifty day moving average is $309.95 and its 200-day moving average is $286.52.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 earnings per share. Equities research analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analyst upgrade and bullish outlook: Rothschild & Co. Redburn upgraded Apple from “Neutral” to “Buy” and raised its price target to $400, implying substantial upside. Morgan Stanley also identified Apple among large-cap technology stocks showing a bullish technical signal. Apple stock upgrade and price target
• Positive Sentiment: Apple positioned as an AI and volatility hedge: Analysts argue that Apple’s restrained AI infrastructure spending limits capital-expenditure and valuation risk relative to peers committing hundreds of billions of dollars to AI. Some investors also view Apple as an underappreciated AI beneficiary through its installed base and potential improvements to Siri. Apple's low AI spending
• Positive Sentiment: Macro support: Retreating Treasury yields helped restore demand for mega-cap technology stocks, while Apple showed relative strength even as semiconductor shares and parts of the technology sector weakened. Apple stock and Treasury yields
• Positive Sentiment: Product optionality: Reports that a future foldable iPhone could support an estimated 11% increase in average iPhone prices provide a potential catalyst for revenue and margin growth, although the product remains unannounced. Apple foldable iPhone outlook

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $307.75, for a total transaction of $442,852.25. Following the transaction, the senior vice president owned 40,107 shares of the company's stock, valued at approximately $12,342,929.25. This represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. 0.06% of the stock is currently owned by company insiders.

Apple 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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