Apple Inc. $AAPL Stock Bought by Brown Lisle Cummings Inc.

Key Points

• Brown Lisle Cummings increased its Apple stake by 14.2% in the second quarter, adding 7,084 shares to own 57,100 shares valued at approximately $16.7 million. Apple represents about 3.6% of the firm’s portfolio, while institutional investors collectively own 67.73% of the stock.
• Apple reported quarterly earnings of $2.02 per share, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share, equal to a 0.3% annualized yield.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $340.02, although Apple faces valuation concerns and recent insider selling, including $92.9 million in stock sales over the last quarter.

Brown Lisle Cummings Inc. increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,100 shares of the iPhone maker's stock after buying an additional 7,084 shares during the quarter. Apple comprises approximately 3.6% of Brown Lisle Cummings Inc.'s investment portfolio, making the stock its 4th largest holding. Brown Lisle Cummings Inc.'s holdings in Apple were worth $16,706,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AAPL. Avenir Tech Ltd acquired a new stake in Apple during the 2nd quarter worth about $29,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Apple in the 2nd quarter valued at about $30,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple in the fourth quarter worth about $41,000. Ascentis Wealth Management LLC boosted its stake in shares of Apple by 822.7% in the second quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock worth $85,000 after buying an additional 260,792 shares during the last quarter. Finally, Basso Capital Management L.P. acquired a new stake in Apple during the fourth quarter worth about $88,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 1.1%

AAPL opened at $336.64 on Friday. The firm has a market capitalization of $4.91 trillion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07. The company's 50 day simple moving average is $322.61 and its two-hundred day simple moving average is $302.99. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34. 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 (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating 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 firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter last year, the firm earned $1.57 earnings per share. The business's revenue for the quarter was up 16.4% on a year-over-year basis. Analysts expect that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's payout ratio is currently 12.39%.

Insider Activity

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value 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. The trade was a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 business's stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the sale, the senior vice president directly owned 41,992 shares in the company, valued at $14,116,870.56. This trade represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 279,383 shares of company stock valued at $92,912,517. Company insiders own 0.06% of the company's stock.

Key Apple News

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

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a report on Friday, September 25th. Daiwa Securities Group increased their target price on shares of Apple from $325.00 to $335.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Bank of America restated a "buy" rating and set a $370.00 target price on shares of Apple in a research report on Wednesday, September 23rd. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a report on Thursday, September 10th. Finally, Evercore set a $380.00 price target on Apple and gave the stock an "outperform" rating in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $340.02.

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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