Apple Inc. $AAPL Stake Increased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management increased its Apple stake by 45.2% in the second quarter, adding 87,427 shares to own 280,800 shares valued at $81.3 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported strong quarterly results, with revenue rising 16.4% year over year to $109.42 billion and EPS of $2.02 versus estimates of $1.89. Analysts maintain a “Moderate Buy” consensus rating with a $340.02 price target.
• Investors are weighing potential AI and smart-home growth against concerns about reduced iPhone 18 Pro orders, Apple’s elevated valuation, margin pressure from memory costs, and recent insider selling.

Cidel Asset Management Inc. raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 45.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 280,800 shares of the iPhone maker's stock after purchasing an additional 87,427 shares during the period. Apple makes up about 3.9% of Cidel Asset Management Inc.'s portfolio, making the stock its 2nd largest holding. Cidel Asset Management Inc.'s holdings in Apple were worth $81,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Sterling Wealth Management Inc. grew its position in Apple by 0.3% during the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker's stock worth $3,351,000 after buying an additional 30 shares in the last quarter. Evansbrook LLC increased its stake in Apple by 0.4% during the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock worth $2,054,000 after acquiring an additional 34 shares during the period. JMG Financial Group Ltd. increased its stake in Apple by 0.7% during the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock worth $1,295,000 after acquiring an additional 35 shares during the period. Advocate Investing Services LLC increased its stake in Apple by 0.5% during the 2nd quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker's stock worth $2,271,000 after acquiring an additional 39 shares during the period. Finally, Sugar Maple Asset Management LLC raised its holdings in Apple by 2.0% in the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AAPL shares. Piper Sandler initiated coverage on Apple in a research report on Monday, August 17th. They set an "overweight" rating for the company. BTIG Research began coverage on Apple in a report on Monday, August 17th. They set a "neutral" rating on the stock. Moffett Nathanson restated a "neutral" rating and issued a $304.00 price target (up from $270.00) on shares of Apple in a research report on Tuesday, September 8th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $303.00 price target on shares of Apple in a research note on Thursday, September 10th. Finally, DZ Bank downgraded Apple from a "buy" rating to a "hold" rating and set a $310.00 price target for the company. in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $340.02.

Insiders Place Their Bets

In other Apple news, insider Timothy Cook sold 191,753 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the completion of the transaction, the insider owned 3,264,168 shares of the company's stock, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the transaction, the senior vice president directly owned 41,992 shares of the company's stock, valued at $14,116,870.56. This trade represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 279,383 shares of company stock worth $92,912,517. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL opened at $336.64 on Monday. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $345.34. The business's fifty day moving average is $322.61 and its 200-day moving average is $303.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm has a market cap of $4.91 trillion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the prior year, the company earned $1.57 EPS. Apple's revenue for the quarter was up 16.4% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Announces Dividend

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

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.

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