Apple Inc. $AAPL Shares Newly Bought by N10 Assets LLC

Key Points

• N10 Assets LLC initiated a position in Apple during the second quarter, buying 1,805 shares valued at approximately $522,000. Institutional and hedge-fund investors collectively own 67.73% of Apple’s outstanding stock.
• Apple reported quarterly earnings of $2.02 per share, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also pays a quarterly dividend of $0.27 per share, equivalent to a 0.3% yield.
• Apple shares opened at $338.40, near the consensus analyst price target of $340.14; analysts maintain a consensus “Moderate Buy” rating. Potential legal risks include a reported $5.7 billion patent-infringement award and revived competition-related litigation in the U.K.

N10 Assets LLC bought a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,805 shares of the iPhone maker's stock, valued at approximately $522,000. Apple makes up about 0.2% of N10 Assets LLC's holdings, making the stock its 26th biggest position.

Other large investors have also recently made changes to their positions in the company. Avenir Tech Ltd purchased a new position in Apple in the 2nd quarter worth $29,000. Longfellow Investment Management Co. LLC bought a new stake in Apple in the second quarter worth $30,000. Lifetime Wealth Management P.C. purchased a new stake in Apple during the fourth quarter valued at about $41,000. ABS Investment Management LLC purchased a new stake in Apple during the second quarter valued at about $376,168,000. Finally, Basso Capital Management L.P. purchased a new stake in Apple during the fourth quarter valued at about $88,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 0.8%

NASDAQ AAPL opened at $338.40 on Tuesday. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34. The stock has a market capitalization of $4.94 trillion, a PE ratio of 38.81, a PEG ratio of 2.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The business's 50-day moving average is $321.79 and its 200 day moving average is $298.18.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the prior year, the company posted $1.57 EPS. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced 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 of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's payout ratio is 12.39%.

Insider Activity at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the sale, the senior vice president owned 44,391 shares of the company's stock, valued at $15,095,603.46. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 11,031 shares of company stock worth $3,535,759 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wedbush reiterated an "outperform" rating and issued a $400.00 price objective on shares of Apple in a report on Friday, June 5th. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft lowered Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. KeyCorp reaffirmed an "underweight" rating on shares of Apple in a research note on Friday, September 4th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $303.00 price objective on shares of Apple in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.14.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday?
• Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump
• Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters
• Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight
• Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales
• Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales

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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