Apple Inc. $AAPL Shares Newly Purchased by Proficio Capital Partners LLC

Key Points

• Proficio Capital Partners purchased 127,762 Apple shares worth approximately $37.0 million in the second quarter, making Apple 1.3% of its portfolio. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Apple’s latest quarter exceeded expectations, with revenue rising 16.4% year over year to $109.42 billion and EPS of $2.02 versus the $1.89 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $340.14.
• Apple faces significant legal and regulatory risks, including a potential $5.7 billion patent award over haptic technology, a revived U.K. competition case, and an expanded Indian investigation into repair costs.

Proficio Capital Partners LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 127,762 shares of the iPhone maker's stock, valued at approximately $36,969,000. Apple makes up 1.3% of Proficio Capital Partners LLC's investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds have also made changes to their positions in AAPL. Berkshire Hathaway Inc bought a new stake in shares of Apple during the 2nd 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 about $36,986,090,000. Legal & General Group Plc purchased a new stake in Apple in the 2nd quarter worth approximately $30,443,242,000. Nuveen LLC boosted its position in Apple by 3.8% during the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock valued at $20,389,750,000 after purchasing an additional 2,725,121 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after buying an additional 13,780,080 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Key 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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. HSBC reiterated a "buy" rating and set a $366.00 price target on shares of Apple in a research note on Tuesday, September 8th. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a research report on Thursday, September 10th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research report on Friday. DA Davidson reaffirmed a "neutral" rating and set a $270.00 price objective on shares of Apple in a report on Wednesday, September 2nd. Finally, Citic Securities upped their target price on shares of Apple from $300.00 to $349.00 in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $340.14.

Insiders Place Their Bets

In other news, SVP Jennifer Newstead sold 2,399 shares of the business's stock in a transaction dated Tuesday, September 22nd. The shares were 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 approximately $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 11,031 shares of company stock worth $3,535,759. 0.06% of the stock is owned by company insiders.

Apple Price Performance

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

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 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 firm had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the previous year, the firm posted $1.57 EPS. The company's revenue for the quarter was up 16.4% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a $0.27 dividend. 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 dividend payout ratio is presently 12.39%.

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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