Apple Inc. $AAPL Shares Acquired by RFG Advisory LLC

Key Points

• RFG Advisory increased its Apple position by 17.2% in the second quarter, purchasing 35,403 additional shares for a total of 241,545 shares valued at approximately $69.9 million.
• Institutional investors own 67.73% of Apple’s stock, while CEO Tim Cook and other insiders sold shares primarily to cover tax obligations tied to equity awards.
• Apple exceeded quarterly earnings expectations, reporting $2.02 in EPS and $109.42 billion in revenue, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $340.02.

RFG Advisory LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 17.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,545 shares of the iPhone maker's stock after purchasing an additional 35,403 shares during the period. Apple accounts for about 1.1% of RFG Advisory LLC's holdings, making the stock its 10th largest holding. RFG Advisory LLC's holdings in Apple were worth $69,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Berkshire Hathaway Inc bought a new position in shares of Apple during the second quarter valued at approximately $65,950,297,000. Bank of America Corp DE purchased a new stake in Apple in the second quarter worth $36,986,090,000. Legal & General Group Plc bought a new stake in Apple in the second quarter valued at $30,443,242,000. Deutsche Bank AG bought a new stake in Apple in the second quarter valued at $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Apple in the second quarter valued at $10,588,946,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, insider Timothy D. Cook sold 191,753 shares of Apple stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the completion of the transaction, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This trade represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Also, CEO John Ternus sold 25,412 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the sale, the chief executive officer directly owned 59,567 shares in the company, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 279,383 shares of company stock worth $92,912,517 in the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Stock Down 1.1%

NASDAQ:AAPL opened at $336.64 on Friday. The firm's 50-day moving average price is $322.61 and its 200-day moving average price is $302.99. The company has a market capitalization of $4.91 trillion, a PE ratio of 38.61, a P/E/G ratio of 2.68 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period last year, the business earned $1.57 EPS. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts predict 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. Shareholders of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is 12.39%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AAPL. Bank of America reissued a "buy" rating and set a $370.00 price objective on shares of Apple in a research report on Wednesday, September 23rd. Seaport Research Partners cut shares of Apple from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. Daiwa Securities Group lifted their target price on shares of Apple from $325.00 to $335.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Phillip Securities lifted their target price on shares of Apple from $290.00 to $300.00 and gave the company a "neutral" rating in a research note on Monday, September 14th. Finally, Citic Securities boosted their price target on shares of Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.02.

Trending Headlines about Apple

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

Apple Profile

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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