Apple Inc. $AAPL Shares Newly Purchased by Blue Edge Capital LLC

Key Points

• Blue Edge Capital LLC purchased 65,501 Apple shares worth approximately $19.0 million in the second quarter, making Apple its 10th-largest holding and about 2.3% of its portfolio. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $340.14, while Apple recently reported quarterly revenue growth of 16.4% and earnings above expectations.
• Apple faces notable legal risks, including a potential $5.7 billion patent-infringement award and revived U.K. competition litigation, despite supportive developments such as its Qualcomm patent agreement and investment in next-generation chips.

Blue Edge Capital LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 65,501 shares of the iPhone maker's stock, valued at approximately $18,953,000. Apple makes up approximately 2.3% of Blue Edge Capital LLC's investment portfolio, making the stock its 10th biggest position.

Several other large investors have also recently added to or reduced their stakes in the stock. Avenir Tech Ltd acquired a new stake in shares of Apple in the second quarter valued at about $29,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Apple in the second quarter valued at $30,000. Lifetime Wealth Management P.C. purchased a new position in shares of Apple in the fourth quarter valued at $41,000. Ascentis Wealth Management LLC grew its holdings in Apple by 822.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock valued at $85,000 after purchasing an additional 260,792 shares in the last quarter. Finally, Basso Capital Management L.P. acquired a new stake in Apple during the 4th quarter valued at $88,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

More Apple News

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

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. BTIG Research assumed coverage on shares of Apple in a report on Monday, August 17th. They issued a "neutral" rating on the stock. TD Cowen restated a "buy" rating and set a $400.00 target price on shares of Apple in a research note on Thursday, September 10th. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research report on Wednesday, September 9th. Robert W. Baird boosted their price target on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company reiterated 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. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $340.14.

Apple Stock Down 0.8%

NASDAQ:AAPL opened at $338.40 on Tuesday. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $345.34. The firm has a market capitalization of $4.94 trillion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $321.79 and a 200-day moving average of $298.18.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders 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 yield of 0.3%. Apple's payout ratio is presently 12.39%.

Insider Transactions at Apple

In other news, SVP Jennifer Newstead sold 2,399 shares of the 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 transaction, the senior vice president owned 44,391 shares of the company's stock, valued at approximately $15,095,603.46. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 11,031 shares of company stock worth $3,535,759. Insiders own 0.06% of the company's stock.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.