Apple Inc. $AAPL Shares Bought by Pointe Capital Management LLC

Key Points

• Pointe Capital Management increased its Apple stake by 6.7% in the second quarter, adding 1,493 shares for a total of 23,854 shares valued at $6.9 million. Apple represented about 3.1% of the firm’s portfolio.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 67.73% of Apple’s shares; several investors also initiated or expanded positions during the quarter.
• Apple delivered stronger-than-expected quarterly results, but investors face mixed signals: potential upside from AI and smart-home expansion contrasts with concerns over iPhone demand, elevated valuation and margin pressure. Analysts maintain a “Moderate Buy” consensus with an average price target of $340.02.

Pointe Capital Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 23,854 shares of the iPhone maker's stock after acquiring an additional 1,493 shares during the quarter. Apple accounts for about 3.1% of Pointe Capital Management LLC's portfolio, making the stock its 7th biggest holding. Pointe Capital Management LLC's holdings in Apple were worth $6,902,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of AAPL. Odyssean LLC grew its holdings in shares of Apple by 77.5% during the second quarter. Odyssean LLC now owns 10,211 shares of the iPhone maker's stock worth $2,955,000 after buying an additional 4,459 shares in the last quarter. Sonoma Private Wealth LLC purchased a new stake in shares of Apple in the second quarter valued at about $3,646,000. Lotus Technology Management LP acquired a new stake in Apple during the second quarter worth about $959,000. Invst LLC acquired a new stake in Apple during the second quarter worth about $11,791,000. Finally, Councilmark Asset Management LLC acquired a new stake in Apple during the second quarter worth about $18,905,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple News Roundup

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 Trading Down 1.1%

Shares of AAPL stock opened at $336.64 on Friday. 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 stock has a market capitalization of $4.91 trillion, a P/E ratio of 38.61, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07. The company has a 50 day moving average price of $322.61 and a 200 day moving average price of $302.99. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 EPS. Equities research analysts predict that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders 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 of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

Insider Buying and Selling at Apple

In other Apple news, CEO John Ternus sold 25,412 shares of the business's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares in the company, valued at $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This represents a 25.32% decrease in their position. 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. In the last three months, insiders have sold 279,383 shares of company stock worth $92,912,517. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AAPL. Seaport Research Partners downgraded shares of Apple from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. Wells Fargo & Company reissued an "overweight" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research note on Friday, July 31st. Rosenblatt Securities restated a "neutral" rating and set a $303.00 price target on shares of Apple in a report on Thursday, September 10th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Thursday, September 10th. Finally, Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research report on Wednesday, September 9th. 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 given a Sell rating to the company. According to data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $340.02.

Apple Company 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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