Apple Inc. $AAPL Shares Newly Purchased by Coastal Bridge Advisors LLC

Key Points

• Coastal Bridge Advisors LLC purchased 220,427 Apple shares in the second quarter, valued at approximately $63.8 million. Apple now represents 3.9% of the firm’s portfolio and is its fifth-largest holding.
• Institutional and hedge-fund ownership remains substantial at 67.73%, with Berkshire Hathaway, Bank of America, Legal & General, Nuveen and Amundi among investors adding to or establishing Apple positions.
• Apple reported quarterly revenue of $109.42 billion and earnings of $2.02 per share, exceeding analyst estimates, while analysts maintain a consensus “Moderate Buy” rating. However, the company faces legal risks, including a potential $5.7 billion patent award and revived competition-related litigation.

Coastal Bridge Advisors LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 220,427 shares of the iPhone maker's stock, valued at approximately $63,783,000. Apple comprises 3.9% of Coastal Bridge Advisors LLC's portfolio, making the stock its 5th biggest position.

A number of other hedge funds have also modified their holdings of AAPL. Berkshire Hathaway Inc bought a new position in shares of Apple during the second quarter worth $65,950,297,000. Bank of America Corp DE acquired a new position in shares of Apple in the 2nd quarter valued at $36,986,090,000. Legal & General Group Plc bought a new stake in shares of Apple in the 2nd quarter valued at $30,443,242,000. Nuveen LLC increased its position in shares of Apple by 3.8% in the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock valued at $20,389,750,000 after buying an additional 2,725,121 shares in the last quarter. Finally, Amundi raised its position in shares of Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the period. 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

Insider Activity

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 transaction, the senior vice president owned 44,391 shares in the company, valued at approximately $15,095,603.46. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 11,031 shares of company stock worth $3,535,759. Corporate insiders own 0.06% of the company's stock.

Apple Trading Down 0.8%

Shares of NASDAQ:AAPL opened at $338.40 on Tuesday. The business has a 50 day moving average of $321.79 and a 200-day moving average of $298.18. The stock has a market cap of $4.94 trillion, a PE ratio of 38.81, a P/E/G ratio of 2.96 and a beta of 1.08. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the prior year, the firm posted $1.57 EPS. The company's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio is currently 12.39%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Evercore set a $380.00 price objective on shares of Apple and gave the stock an "outperform" rating in a report on Friday, September 18th. CICC Research upped their price objective on Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. Bank of America restated a "buy" rating and set a $370.00 target price on shares of Apple in a report on Wednesday, September 23rd. DZ Bank lowered shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 price target on the stock. in a research report on Tuesday, August 4th. Finally, Wedbush reiterated an "outperform" rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $340.14.

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.

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.