Arizona State Retirement System Buys 46,759 Shares of Apple Inc. $AAPL

Key Points

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Arizona State Retirement System lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,073,733 shares of the iPhone maker's stock after purchasing an additional 46,759 shares during the quarter. Apple accounts for 5.9% of Arizona State Retirement System's portfolio, making the stock its 2nd largest position. Arizona State Retirement System's holdings in Apple were worth $1,178,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc bought a new position in shares of Apple in the second quarter valued at $65,950,297,000. Bank of America Corp DE bought a new stake in Apple during the second quarter worth $36,986,090,000. Legal & General Group Plc acquired a new stake in Apple in the second quarter valued at $30,443,242,000. Amundi grew its position 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 acquiring an additional 13,780,080 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Apple by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock valued at $14,858,200,000 after acquiring an additional 979,832 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In related news, CEO John Ternus sold 25,412 shares of the 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 sale, the chief executive officer owned 59,567 shares of the company's stock, valued at $19,832,236.98. This represents a 29.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 firm's stock in a transaction on 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 transaction, the insider owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This trade represents a 5.55% 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. In the last ninety days, insiders have sold 279,383 shares of company stock valued at $92,912,517. 0.06% of the stock is currently owned by corporate insiders.

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 Stock Performance

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 business has a fifty day simple moving average of $322.61 and a 200 day simple moving average of $302.99. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34. The company has a market capitalization of $4.91 trillion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the firm earned $1.57 earnings per share. The company's revenue was up 16.4% on a year-over-year basis. Research analysts expect that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a $0.27 dividend. 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 payout ratio is presently 12.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Apple in a report on Monday, August 17th. They issued a "buy" rating on the stock. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Thursday, October 1st. Citigroup restated a "buy" rating on shares of Apple in a research note on Thursday, September 10th. Finally, KGI Securities downgraded Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price for the company. in a research note on Monday, June 22nd. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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