Gilliland Jeter Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,006 shares of the iPhone maker's stock after selling 2,527 shares during the quarter. Apple accounts for approximately 8.3% of Gilliland Jeter Wealth Management LLC's portfolio, making the stock its largest holding. Gilliland Jeter Wealth Management LLC's holdings in Apple were worth $31,542,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rainier Family Wealth Inc. raised its holdings in shares of Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock worth $6,189,000 after acquiring an additional 3,014 shares during the last quarter. Eaton Cambridge Inc. boosted its stake in shares of Apple by 21.3% during the first quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker's stock valued at $3,545,000 after acquiring an additional 2,450 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Apple during the fourth quarter valued at $1,178,000. Summit Wealth Partners LLC increased its position in Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock worth $8,880,000 after purchasing an additional 18,188 shares in the last quarter. Finally, Davis R M Inc. raised its stake in Apple by 2.1% in the 1st quarter. Davis R M Inc. now owns 1,151,352 shares of the iPhone maker's stock valued at $292,202,000 after purchasing an additional 23,162 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Investor optimism is building ahead of Apple’s September 9 product event, the first major launch under new CEO John Ternus. Ternus described the event as “phenomenal,” raising expectations for new premium iPhones and the company’s first foldable iPhone. Apple’s New CEO Teases “Phenomenal” iPhone Launch
- Positive Sentiment: The foldable iPhone could provide a significant new growth catalyst. Morgan Stanley estimates the device could contribute approximately $14 billion to the December quarter, while other projections suggest strong market share and premium pricing potential if demand materializes. Apple’s Foldable iPhone May Contribute $14 Billion
- Positive Sentiment: Morgan Stanley reaffirmed its Overweight rating and set a $360 price target, supporting the view that Apple’s product pipeline and earnings growth can justify its premium valuation. Apple’s services business also continues to benefit from price increases to Apple TV and Apple One. Apple TV Price Hike
- Neutral Sentiment: John Ternus has formally succeeded Tim Cook, while Cook remains executive chairman. The structure provides continuity and preserves Cook’s government and China relationships, but Ternus must prove that a product-focused strategy can improve Apple’s position in AI. Apple Leadership Transition
- Negative Sentiment: Jefferies downgraded Apple to Underperform, reportedly citing the cancellation of an all-glass MacBook or foldable MacBook project and skepticism that the foldable iPhone will be more than a niche product. Jefferies Downgrades Apple
- Negative Sentiment: Apple faces a £2 billion ($2.7 billion) UK lawsuit alleging that its App Tracking Transparency rules unfairly restrict third-party developers while favoring Apple’s own advertising services. BASF has also filed a separate patent lawsuit over face-authentication technology. BASF Patent Lawsuit
- Negative Sentiment: Rising memory-chip costs could lift iPhone production expenses sharply, forcing Apple to raise prices, accept lower margins or risk weaker demand. Analysts remain divided, with DA Davidson maintaining a Neutral rating and a $270 price target. Apple Product and Leadership Outlook
- Negative Sentiment: An Apple senior vice president sold 1,439 shares worth about $456,000. The sale was relatively small, leaving the executive with nearly 35,800 shares, but it may add modestly to near-term investor caution. Apple Insider Trading Filing
Analyst Ratings Changes
AAPL has been the topic of a number of recent research reports. DZ Bank lowered shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 target price on the stock. in a report on Tuesday, August 4th. Piper Sandler started coverage on shares of Apple in a research report on Monday, August 17th. They issued an "overweight" rating for the company. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $285.56 to $263.66 in a research note on Monday, August 10th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research note on Monday, June 8th. Finally, Evercore reiterated an "outperform" rating on shares of Apple in a report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average target price of $330.61.
Get Our Latest Analysis on AAPL
Insider Buying and Selling at Apple
In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the completion of the sale, the senior vice president owned 35,790 shares of the company's stock, valued at approximately $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. 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. Insiders sold a total of 5,872 shares of company stock worth $1,823,201 over the last ninety days. Corporate insiders own 0.06% of the company's stock.
Apple Trading Up 1.0%
Shares of AAPL stock opened at $328.21 on Friday. The firm's 50-day simple moving average is $314.94 and its 200-day simple moving average is $290.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1-year low of $225.95 and a 1-year high of $344.57. The firm has a market cap of $4.79 trillion, a P/E ratio of 37.64, a PEG ratio of 2.81 and a beta of 1.08.
Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion during 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%. Apple's revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.57 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is presently 12.39%.
Apple Company Profile
(
Free Report)
Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.
Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.
Further Reading
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.
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