Apple Inc. $AAPL Stock: Range Advisory LLC Grows Holdings

Key Points

• Range Advisory LLC increased its Apple stake by 38% in the second quarter, purchasing 16,353 additional shares to own 59,364 shares valued at approximately $17.2 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share, exceeding the $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $340.02.
• Apple paid a quarterly dividend of $0.27 per share, representing a 0.3% yield, while insiders sold shares largely to cover tax obligations related to vested equity awards.

Range Advisory LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 38.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,364 shares of the iPhone maker's stock after purchasing an additional 16,353 shares during the quarter. Apple comprises 2.0% of Range Advisory LLC's portfolio, making the stock its 8th largest holding. Range Advisory LLC's holdings in Apple were worth $17,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital & Planning LLC boosted its stake in shares of Apple by 0.4% during the 2nd quarter. Capital & Planning LLC now owns 21,860 shares of the iPhone maker's stock worth $6,325,000 after acquiring an additional 83 shares in the last quarter. Brown Lisle Cummings Inc. raised its position in shares of Apple by 14.2% during the second quarter. Brown Lisle Cummings Inc. now owns 57,100 shares of the iPhone maker's stock worth $16,706,000 after purchasing an additional 7,084 shares during the period. Alternative Investment Advisors LLC. lifted its holdings in shares of Apple by 3.7% during the second quarter. Alternative Investment Advisors LLC. now owns 7,129 shares of the iPhone maker's stock valued at $2,063,000 after purchasing an additional 257 shares during the last quarter. Cornerstone Financial Management LLC lifted its holdings in shares of Apple by 8.0% during the second quarter. Cornerstone Financial Management LLC now owns 7,544 shares of the iPhone maker's stock valued at $2,183,000 after purchasing an additional 557 shares during the last quarter. Finally, Formuepleje A S acquired a new position in shares of Apple in the 2nd quarter valued at $22,316,000. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

NASDAQ AAPL opened at $336.64 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. 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 has a 50 day simple moving average of $322.61 and a 200-day simple moving average of $302.99. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $345.34.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors 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 dividend payout ratio (DPR) is currently 12.39%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AAPL shares. Loop Capital set a $380.00 price objective on Apple in a report on Friday, September 18th. Oppenheimer reiterated a "market perform" rating on shares of Apple in a report on Thursday, September 10th. DZ Bank downgraded shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 target price on the stock. in a research report on Tuesday, August 4th. UBS Group restated a "neutral" rating on shares of Apple in a report on Tuesday. Finally, The Goldman Sachs Group began coverage on shares of Apple in a research note on Monday, August 17th. They issued a "buy" rating for the company. 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $340.02.

Insider Transactions at Apple

In related news, CEO John Ternus sold 25,412 shares of Apple stock in a transaction 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 sale, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This trade represents a 29.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy Cook sold 191,753 shares of the company's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the transaction, the insider directly 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 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 a total of 279,383 shares of company stock valued at $92,912,517 in the last three months. 0.06% of the stock is currently owned by insiders.

More 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

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.