Ascentis Independent Advisors Has $186,000 Stake in Apple Inc. $AAPL

Key Points

• Ascentis Independent Advisors cut its Apple stake by 99.7% in the second quarter, selling 246,873 shares and retaining 643 shares valued at approximately $186,000.
• Apple reported strong quarterly results, with earnings of $2.02 per share beating estimates by $0.13 and revenue rising 16.4% year over year to $109.42 billion.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and $330.61 price target, although potential foldable-iPhone supply constraints, rising memory costs, and litigation pose risks.

Ascentis Independent Advisors cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 99.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 643 shares of the iPhone maker's stock after selling 246,873 shares during the period. Apple comprises approximately 0.5% of Ascentis Independent Advisors' investment portfolio, making the stock its 29th largest holding. Ascentis Independent Advisors' holdings in Apple were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. State Street Corp grew its position in Apple by 1.1% during the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker's stock valued at $164,218,801,000 after buying an additional 6,555,392 shares during the period. Geode Capital Management LLC grew its position in Apple by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker's stock valued at $97,031,587,000 after buying an additional 1,866,103 shares during the period. Morgan Stanley increased its holdings in Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker's stock worth $62,659,118,000 after buying an additional 1,379,651 shares during the last quarter. Finally, Norges Bank bought a new stake in Apple in the fourth quarter worth about $52,266,468,000. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

AAPL stock opened at $319.97 on Monday. The company's 50 day moving average is $315.65 and its 200 day moving average is $290.59. The stock has a market cap of $4.67 trillion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 2.77 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a 1-year low of $225.95 and a 1-year high of $344.57.

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, beating 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 net margin of 27.62% and a return on equity of 135.46%. Apple's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share. Sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Transactions at Apple

In other news, insider Ben Borders sold 116 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the completion of the sale, the senior vice president owned 35,790 shares of the company's stock, valued at approximately $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,872 shares of company stock valued at $1,823,201 over the last quarter. Company insiders own 0.06% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Sept. 9 product event is generating significant interest under new CEO John Ternus, with expectations for new iPhones, an Apple Watch update and potentially the company’s first foldable iPhone. Citi estimates the foldable device could sell 7.3 million units despite a possible price above $2,000. Citi foldable iPhone sales forecast
• Positive Sentiment: Apple’s latest quarter showed strong momentum, with revenue rising 16.4% year over year and earnings exceeding analyst expectations. Morgan Stanley has also suggested the foldable iPhone could contribute roughly $14 billion in December-quarter revenue if successfully launched. Morgan Stanley foldable iPhone estimate
• Neutral Sentiment: John Ternus has succeeded Tim Cook as CEO, while Cook remains executive chairman. The transition offers continuity through a longtime Apple executive but raises questions about whether Ternus can accelerate Apple’s artificial-intelligence strategy and sustain Cook-era growth. John Ternus becomes Apple CEO
• Negative Sentiment: Reports indicate initial foldable iPhone production was only a few hundred units per day in late August. Tight quality controls and memory shortages could limit launch supply, delay purchases and prevent Apple from fully capturing expected demand. Foldable iPhone production hurdles
• Negative Sentiment: Memory costs have reportedly surged, potentially forcing Apple to raise iPhone prices, absorb lower margins or risk weaker demand. Jefferies has also downgraded AAPL amid skepticism about the foldable product’s market potential. iPhone memory cost concerns
• Negative Sentiment: Apple faces a $2.7 billion UK lawsuit over alleged unfair app-tracking rules and a separate BASF patent lawsuit involving facial-authentication technology, adding regulatory and litigation risk. Apple UK app-tracking lawsuit

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Maxim Group reissued a "buy" rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Wedbush reiterated an "outperform" rating and set a $400.00 price target on shares of Apple in a research note on Friday, June 5th. DZ Bank cut Apple from a "buy" rating to a "hold" rating and set a $310.00 price objective on the stock. in a research note on Tuesday, August 4th. China Renaissance downgraded shares of Apple from a "buy" rating to a "hold" rating and set a $280.00 price objective on the stock. in a report on Tuesday, August 4th. Finally, Seaport Research Partners cut shares of Apple from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.61.

Apple Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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