Apple Inc. $AAPL Stock: MLG Wealth Management DBA Pine Grove Financial Group Increases Holdings

Key Points

• Institutional buying increased: MLG Wealth Management raised its Apple position by 28.3% in the second quarter to 23,984 shares valued at $6.94 million. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Analysts remain broadly bullish: Apple has a consensus “Moderate Buy” rating and an average price target of $340.02, with several firms recently maintaining or raising positive ratings and targets.
• Strong results but insider selling: Apple exceeded quarterly EPS and revenue estimates, with revenue up 16.4% year over year. However, insiders sold approximately $92.9 million in stock over the past 90 days, primarily to cover tax obligations tied to equity awards.

MLG Wealth Management DBA Pine Grove Financial Group raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 28.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,984 shares of the iPhone maker's stock after buying an additional 5,292 shares during the quarter. MLG Wealth Management DBA Pine Grove Financial Group's holdings in Apple were worth $6,940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Wealth Management Inc. raised 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 valued at $3,351,000 after purchasing an additional 30 shares in the last quarter. Evansbrook LLC lifted its stake in Apple by 0.4% during the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock worth $2,054,000 after purchasing an additional 34 shares during the last quarter. JMG Financial Group Ltd. boosted its holdings in shares of Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock valued at $1,295,000 after purchasing an additional 35 shares in the last quarter. Advocate Investing Services LLC boosted its holdings in shares of Apple by 0.5% in the 2nd quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker's stock valued at $2,271,000 after purchasing an additional 39 shares in the last quarter. Finally, Sugar Maple Asset Management LLC increased its stake in shares of 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 purchasing an additional 40 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent analyst reports. Maxim Group upped their price objective on Apple from $350.00 to $380.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. HSBC reiterated a "buy" rating and issued a $366.00 target price on shares of Apple in a research report on Tuesday, September 8th. Piper Sandler began coverage on shares of Apple in a report on Monday, August 17th. They issued an "overweight" rating for the company. Loop Capital set a $380.00 price target on shares of Apple in a research note on Friday, September 18th. Finally, Weiss Ratings raised shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $340.02.

Apple Stock Performance

Shares of Apple stock opened at $336.64 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. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $345.34. The stock has a market cap of $4.91 trillion, a price-to-earnings ratio of 38.61, a P/E/G ratio of 2.71 and a beta of 1.07. The company's fifty day moving average is $322.61 and its 200 day moving average is $302.99.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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 business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. Apple's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $1.57 EPS. Sell-side analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio (DPR) is 12.39%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the firm's 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 completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at approximately $45,615,190.20. This trade represents a 25.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 business's stock in a transaction that occurred on Friday, October 2nd. The stock was 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 $19,832,236.98. This trade represents a 29.90% decrease in their position. 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 sold 279,383 shares of company stock valued at $92,912,517 in the last ninety days. Insiders own 0.06% of the company's stock.

Apple News Roundup

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

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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