Apple Inc. $AAPL Stake Boosted by GFG Capital LLC

Key Points

• GFG Capital increased its Apple stake by 3% in the third quarter to 79,898 shares valued at approximately $26.6 million, making Apple its second-largest holding. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Analyst sentiment remains positive, with Apple carrying a consensus “Moderate Buy” rating and an average price target of $340.59, although several firms maintain neutral or hold ratings.
• Apple recently exceeded quarterly earnings expectations, reporting $2.02 in EPS and $109.42 billion in revenue, while shares traded near their 52-week high. Executives also sold shares to cover tax obligations related to vested equity awards.

GFG Capital LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,898 shares of the iPhone maker's stock after purchasing an additional 2,337 shares during the quarter. Apple accounts for about 6.3% of GFG Capital LLC's investment portfolio, making the stock its 2nd largest holding. GFG Capital LLC's holdings in Apple were worth $26,608,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Apple by 4.7% in the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock valued at $182,897,769,000 after buying an additional 28,321,085 shares during the period. Berkshire Hathaway Inc bought a new stake in shares of Apple during the 2nd quarter valued at about $65,950,297,000. Bank of America Corp DE acquired a new stake in Apple during the second quarter worth about $36,986,090,000. Legal & General Group Plc acquired a new stake in Apple during the second quarter worth about $30,443,242,000. Finally, Amundi lifted its holdings in Apple by 23.2% in the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after acquiring an additional 13,780,080 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAPL. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Thursday, October 1st. Oppenheimer reiterated a "market perform" rating on shares of Apple in a research report on Thursday, September 10th. BTIG Research began coverage on Apple in a report on Monday, August 17th. They issued a "neutral" rating on the stock. Phillip Securities raised their price target on Apple from $290.00 to $300.00 and gave the stock a "neutral" rating in a report on Monday, September 14th. Finally, Rothschild & Co Redburn set a $400.00 price objective on Apple and gave the company a "buy" rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $340.59.

Apple Trading Up 1.5%

Shares of NASDAQ:AAPL opened at $348.91 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company's 50-day moving average price is $332.37 and its 200 day moving average price is $295.96. The company has a market cap of $5.09 trillion, a PE ratio of 40.01, a P/E/G ratio of 2.72 and a beta of 1.07. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $351.73.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. Apple's quarterly revenue was up 16.4% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 1,392 shares of the business's stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $345.05, for a total transaction of $480,309.60. Following the completion of the transaction, the chief financial officer directly owned 17,539 shares in the company, valued at approximately $6,051,831.95. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Ternus sold 25,412 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the transaction, the chief executive officer directly owned 59,567 shares of the company's stock, valued at $19,832,236.98. This trade represents a 29.90% 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. In the last 90 days, insiders have sold 289,252 shares of company stock valued at $96,301,063. Company insiders own 0.06% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analysts remain optimistic ahead of earnings, citing strong demand for Apple’s new iPhone Duo, continued Services growth and potential AI-related momentum. Options activity also points to expectations for a post-earnings rally. Apple's Q4 Earnings Loom
• Positive Sentiment: Goldman Sachs reaffirmed its Buy rating, while Monness raised its price target to $355. Apple is also attracting attention as it approaches Nvidia in market capitalization, with revenue growth described as its fastest in about five years. Apple Stock Heads Toward All-Time High
• Positive Sentiment: Apple launched its first touchscreen MacBook Pro, featuring OLED displays and M5 Pro and M5 Max chips. The move expands the Mac product cycle and could support higher average selling prices, despite the premium starting price. Apple Shows First Touchscreen Laptops
• Neutral Sentiment: Forty-seven exchange-traded funds added to their Apple holdings, indicating continued institutional demand, although the purchases do not necessarily signal near-term changes in fundamentals. 47 ETFs Add to Apple Holdings
• Negative Sentiment: Investors face margin and valuation concerns. AI-driven flash-memory demand has sharply increased component costs, while Apple’s roughly 40-times earnings multiple leaves limited room for disappointing guidance. AI Has Made Flash Memory More Expensive
• Negative Sentiment: South Korea fined Apple and Google a combined $47.6 million over alleged unfair app-payment practices. Early reports of cracked iPhone Duo screens and an executive stock sale add smaller sources of investor caution. South Korea Fines Google and Apple

Apple Company Profile

Apple Inc designs, develops and sells 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 applications that support its hardware ecosystem.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.

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