Apple Inc. $AAPL Stock Acquired by Stone Summit Wealth LLC

Key Points

• Stone Summit Wealth increased its Apple position by 46.8% in the third quarter, adding 8,410 shares to reach 26,368 shares valued at approximately $8.3 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, surpassing analyst expectations, while revenue increased 16.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $340.12.
• Apple’s growth outlook is supported by strong demand for its new foldable iPhone Duo and broader hardware and services opportunities, but valuation and execution risks remain, with the stock trading near 40 times earnings and some insiders selling shares to cover tax obligations.

Stone Summit Wealth LLC lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 46.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,368 shares of the iPhone maker's stock after buying an additional 8,410 shares during the period. Apple comprises 2.3% of Stone Summit Wealth LLC's portfolio, making the stock its 12th largest holding. Stone Summit Wealth LLC's holdings in Apple were worth $8,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in Apple by 4.7% in 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 during the last quarter. 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 bought a new stake in shares of Apple during the 2nd quarter valued at about $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple during the 2nd quarter valued at about $30,443,242,000. Finally, Amundi increased its position 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 purchasing an additional 13,780,080 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of Apple stock opened at $347.73 on Friday. The company has a market capitalization of $5.07 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 2.75 and a beta of 1.07. 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 stock's 50-day simple moving average is $329.75 and its 200-day simple moving average is $309.34. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $351.73.

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, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The firm's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $1.57 earnings per share. As a group, analysts expect that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. The Goldman Sachs Group began coverage on shares of Apple in a research note on Monday, August 17th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Apple from $340.00 to $360.00 and gave the company an "overweight" rating in a research report on Monday, October 12th. Robert W. Baird upped their target price on shares of Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Rothschild & Co Redburn set a $400.00 price target on shares of Apple and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, Yorkville Ives began coverage on shares of Apple in a research note on Tuesday, October 6th. They set an "outperform" rating and a $400.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $340.12.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Strong iPhone Duo demand is the primary catalyst. The foldable phone launched globally Friday amid long lines, limited store inventory and reports that preorders are backordered into 2027. Supply-chain reports indicate Apple raised its first-year shipment target by 44%, to roughly 14 million units. The premium product could expand Apple’s addressable market and support revenue growth. Apple fans react as iPhone Duo hits stores
• Positive Sentiment: The launch strengthens Apple’s broader hardware and services roadmap. Analysts are evaluating whether the Duo can drive accessory, software and services revenue, while potential touchscreen Macs, smart-home products and an Apple-Schneider Electric energy-management partnership provide additional growth opportunities. Will Apple take over the smart home
• Positive Sentiment: Apple briefly reclaimed the title of world’s most valuable public company. AAPL approached or surpassed Nvidia’s approximately $5 trillion valuation as Nvidia shares weakened during a broader AI-stock selloff. Investors are treating Apple’s substantial cash generation and lower AI infrastructure spending as a relative safe haven. Apple tops Nvidia in market value
• Neutral Sentiment: The next major test is earnings. Apple’s fiscal fourth-quarter results are expected November 2, with investors looking for evidence that iPhone Duo demand, holiday sales and margins justify a stock trading near 40 times earnings. Analysts remain broadly constructive, but the average price target is close to recent trading levels.
• Negative Sentiment: Execution and valuation risks remain significant. Some early users have reported cracked foldable screens, while reviews cite first-generation glitches, a $2,000 price and limitations involving the camera and apps. These issues could affect returns, customer satisfaction and adoption.
• Negative Sentiment: Insider selling adds a modest cautionary signal. Senior Vice President Jennifer Newstead sold approximately $815,000 of AAPL shares, following several similar sales. The transaction is small relative to Apple’s size but may reinforce concerns that the stock has become expensive.

Insiders Place Their Bets

In other news, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction that occurred 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 sale, the senior vice president owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, insider Timothy D. Cook sold 191,753 shares of Apple stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the sale, the insider owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 286,853 shares of company stock valued at $95,477,342. 0.06% of the stock is owned by company insiders.

About Apple

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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