Apple Inc. $AAPL Shares Acquired by Empirical Finance LLC

Key Points

• Empirical Finance increased its Apple position by 3.4% in the second quarter, holding 518,315 shares valued at approximately $150 million. Institutional investors collectively own 67.73% of Apple.
• Wall Street maintains a generally positive outlook, with Apple receiving a “Moderate Buy” consensus rating and an average price target of $340.02, although several analysts recently downgraded the stock to “Hold.”
• Apple reported strong quarterly results, including 16.4% year-over-year revenue growth and earnings that exceeded estimates, but investors face concerns over the stock’s high valuation and reports of reduced iPhone 18 Pro component orders.

Empirical Finance LLC grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 518,315 shares of the iPhone maker's stock after buying an additional 17,132 shares during the period. Apple accounts for about 6.2% of Empirical Finance LLC's portfolio, making the stock its 2nd largest position. Empirical Finance LLC's holdings in Apple were worth $149,980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc bought a new position in shares of Apple during the 2nd quarter worth approximately $65,950,297,000. Bank of America Corp DE purchased a new stake in Apple during the second quarter valued at approximately $36,986,090,000. Legal & General Group Plc purchased a new stake in Apple during the second quarter valued at approximately $30,443,242,000. Deutsche Bank AG acquired a new stake in Apple in the second quarter valued at approximately $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Apple in the second quarter valued at approximately $10,588,946,000. Hedge funds and other 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: 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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AAPL shares. KGI Securities lowered shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Thursday, October 1st. BTIG Research initiated coverage on Apple in a report on Monday, August 17th. They set a "neutral" rating for the company. The Goldman Sachs Group initiated coverage on Apple in a research report on Monday, August 17th. They issued a "buy" rating for the company. Finally, China Renaissance downgraded Apple from a "buy" rating to a "hold" rating and dropped their target price for the stock from $329.00 to $280.00 in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $340.02.

Insider Buying and Selling at Apple

In other Apple news, CEO John Ternus sold 25,412 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer directly owned 59,567 shares in the company, valued at approximately $19,832,236.98. This trade represents a 29.90% decrease in their position. The transaction was disclosed in a legal filing 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 2,399 shares of the firm's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the transaction, the senior vice president owned 39,593 shares of the company's stock, valued at $13,145,271.93. This trade represents a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 279,383 shares of company stock valued at $92,912,517 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 1.1%

AAPL opened at $336.64 on Friday. The business's fifty day moving average is $322.61 and its two-hundred day moving average is $302.99. 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 $4.91 trillion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.68 and a beta of 1.07. Apple Inc. has a one year low of $243.42 and a one year high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. Apple's revenue was up 16.4% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Announces Dividend

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

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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