Apple Inc. $AAPL Shares Acquired by FAS Wealth Partners Inc.

FAS Wealth Partners Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,028 shares of the iPhone maker's stock after acquiring an additional 2,141 shares during the period. Apple accounts for approximately 2.4% of FAS Wealth Partners Inc.'s holdings, making the stock its 7th largest position. FAS Wealth Partners Inc.'s holdings in Apple were worth $45,148,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Elgethun Capital Management boosted its stake in shares of Apple by 8.0% during the 2nd quarter. Elgethun Capital Management now owns 16,182 shares of the iPhone maker's stock worth $4,682,000 after acquiring an additional 1,204 shares in the last quarter. Waterloo Capital L.P. lifted its stake in shares of Apple by 16.2% in the second quarter. Waterloo Capital L.P. now owns 143,351 shares of the iPhone maker's stock worth $41,480,000 after buying an additional 20,031 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its stake in shares of Apple by 2.8% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,231,303 shares of the iPhone maker's stock worth $645,650,000 after buying an additional 60,148 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Apple by 1.6% during the 2nd quarter. iA Global Asset Management Inc. now owns 1,316,462 shares of the iPhone maker's stock worth $380,931,000 after buying an additional 20,406 shares during the period. Finally, Aspire Growth Partners LLC grew its stake in Apple by 0.5% in the 2nd quarter. Aspire Growth Partners LLC now owns 40,583 shares of the iPhone maker's stock valued at $11,743,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAPL. Royal Bank Of Canada set a $365.00 price objective on Apple in a research note on Wednesday, July 15th. Barclays reiterated 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. 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 research report on Monday, June 22nd. Maxim Group restated a "buy" rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $330.61.

Apple Trading Down 2.5%

Shares of NASDAQ AAPL opened at $319.97 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company's fifty day moving average is $315.65 and its 200-day moving average is $290.34. Apple Inc. has a twelve month low of $225.95 and a twelve month high of $344.57. The stock has a market cap of $4.67 trillion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 2.84 and a beta of 1.08.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 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 analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm's revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. Equities research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's dividend payout ratio is currently 12.39%.

Insider Activity at Apple

In other Apple news, insider Ben Borders sold 116 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company's stock, 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 legal filing with the SEC, which is available through this hyperlink. 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 company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total transaction of $456,177.39. Following the completion of the sale, the senior vice president directly owned 35,790 shares in the company, valued at approximately $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 5,872 shares of company stock valued at $1,823,201. 0.06% of the stock is currently owned by insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Sept. 9 product event is generating significant interest under new CEO John Ternus, with expectations for new iPhones, an Apple Watch update and potentially the company’s first foldable iPhone. Citi estimates the foldable device could sell 7.3 million units despite a possible price above $2,000. Citi foldable iPhone sales forecast
• Positive Sentiment: Apple’s latest quarter showed strong momentum, with revenue rising 16.4% year over year and earnings exceeding analyst expectations. Morgan Stanley has also suggested the foldable iPhone could contribute roughly $14 billion in December-quarter revenue if successfully launched. Morgan Stanley foldable iPhone estimate
• Neutral Sentiment: John Ternus has succeeded Tim Cook as CEO, while Cook remains executive chairman. The transition offers continuity through a longtime Apple executive but raises questions about whether Ternus can accelerate Apple’s artificial-intelligence strategy and sustain Cook-era growth. John Ternus becomes Apple CEO
• Negative Sentiment: Reports indicate initial foldable iPhone production was only a few hundred units per day in late August. Tight quality controls and memory shortages could limit launch supply, delay purchases and prevent Apple from fully capturing expected demand. Foldable iPhone production hurdles
• Negative Sentiment: Memory costs have reportedly surged, potentially forcing Apple to raise iPhone prices, absorb lower margins or risk weaker demand. Jefferies has also downgraded AAPL amid skepticism about the foldable product’s market potential. iPhone memory cost concerns
• Negative Sentiment: Apple faces a $2.7 billion UK lawsuit over alleged unfair app-tracking rules and a separate BASF patent lawsuit involving facial-authentication technology, adding regulatory and litigation risk. Apple UK app-tracking lawsuit

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.

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