Apple Inc. $AAPL Stock Acquired by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Apple stake by 2.9% in the third quarter, adding 46,617 shares to own 1.66 million shares worth approximately $548 million. Institutional investors collectively own 67.73% of Apple.
• Analysts maintain a generally favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $340.39, although ratings range from “Strong Buy” to “Sell.”
• Apple reported quarterly revenue growth of 16.4% and an earnings beat, while recent insider stock sales were attributed to tax withholding obligations. Shares trade near their 52-week high at a valuation of roughly 39 times earnings, leaving investors focused on AI execution, iPhone demand and growth sustainability.

Congress Asset Management Co. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,656,363 shares of the iPhone maker's stock after acquiring an additional 46,617 shares during the period. Apple accounts for approximately 3.5% of Congress Asset Management Co.'s investment portfolio, making the stock its 3rd biggest holding. Congress Asset Management Co.'s holdings in Apple were worth $548,018,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Apple by 4.7% during the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock worth $182,897,769,000 after purchasing an additional 28,321,085 shares in the last quarter. Berkshire Hathaway Inc acquired a new position in shares of Apple in the 2nd quarter valued at $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 acquired a new position in shares of Apple in the 2nd quarter valued at $30,443,242,000. Finally, Amundi boosted its holdings in shares of Apple by 23.2% in 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 in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. HSBC reaffirmed a "buy" rating and issued a $366.00 target price on shares of Apple in a research report on Tuesday, September 8th. Jefferies Financial Group reissued an "underperform" rating on shares of Apple in a research report on Wednesday, September 9th. TD Cowen restated a "buy" rating and issued a $400.00 price objective on shares of Apple in a research note on Thursday, September 10th. Rosenblatt Securities restated a "neutral" rating and issued a $303.00 price objective on shares of Apple in a research note on Thursday, September 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Apple from a "buy" rating to a "hold" rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $340.39.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This trade represents a 25.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares in the company, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 279,383 shares of company stock worth $92,912,517 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s $299 HomeView smart-home hub, along with new cameras, a doorbell, smart lock, thermostat and updated Apple TV and HomePod products, gives the company new hardware and ecosystem expansion opportunities. Analysts also see potential for recurring iCloud+ and other Services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Apple reportedly plans to launch Apple Intelligence in mainland China in December, potentially improving access to AI features in a strategically important market. Apple to Release AI Platform in Mainland China
• Positive Sentiment: Apple benefited from news that GlobalFoundries will build two New York fabs with up to $21 billion in U.S.-Japan funding. Apple is expected to source chips from the expanded domestic capacity, supporting supply-chain diversification. GlobalFoundries Secures $21B for New York Fabs
• Positive Sentiment: Investor optimism was reinforced by Apple’s market value reclaiming the $5 trillion milestone, while analyst Dan Ives suggested a stronger AI strategy could support a $400 price target. Apple reaches new highs ahead of iPhone Duo preorders
• Neutral Sentiment: Apple’s iPhone Duo preorders begin October 16. Strong demand could provide a near-term catalyst, but reports of shorter iPhone 18 Pro delivery windows and reduced supplier production have raised questions about demand.
• Neutral Sentiment: Analysts estimate that a paid, more capable Siri could eventually generate substantial Services revenue, but Apple has not announced pricing or a launch date for expanded AI access.
• Negative Sentiment: OpenAI alleges that a former employee who joined Apple transferred more than 100 confidential files concerning an unreleased device. The case could create legal, reputational and product-development risks, although there is no indication Apple used the information. OpenAI alleges former employee took device files to Apple
• Negative Sentiment: Gene Munster warned Apple could lose the AI platform battle if users become loyal to rival assistants such as Meta’s Muse or Grok. Critics also questioned whether HomeView meaningfully addresses Apple’s AI shortcomings.
• Negative Sentiment: With Apple trading near record levels at a rich valuation, investors are concerned that slower growth, margin pressure and uncertain iPhone demand may limit further upside.

Apple Price Performance

AAPL stock opened at $342.96 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.01 trillion, a P/E ratio of 39.33, a PEG ratio of 2.72 and a beta of 1.07. The business has a 50 day simple moving average of $324.64 and a 200-day simple moving average of $305.24. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $348.15.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date 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%.

Apple Company 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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