Ascentis Wealth Management LLC Raises Stock Position in Apple Inc. $AAPL

Key Points

• Ascentis Wealth Management increased its Apple position by 6.7% in the second quarter, bringing its holdings to 33,811 shares valued at approximately $9.8 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share, surpassing the $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. The company also paid a quarterly dividend of $0.27 per share.
• Analysts maintain a “Moderate Buy” consensus with a $330.61 price target, though Apple faces uncertainty surrounding its potential foldable iPhone, production and memory-cost pressures, and ongoing legal risks.

Ascentis Wealth Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,811 shares of the iPhone maker's stock after acquiring an additional 2,110 shares during the quarter. Apple comprises approximately 1.0% of Ascentis Wealth Management LLC's holdings, making the stock its 14th biggest holding. Ascentis Wealth Management LLC's holdings in Apple were worth $9,787,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. acquired a new position in Apple during the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter valued at approximately $65,000. Timmons Wealth Management LLC acquired a new position in Apple in the 4th quarter worth $69,000. Finally, Inspire Investing LLC purchased a new stake in shares of Apple during the fourth quarter worth about $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $319.97 on Monday. The stock has a 50-day simple moving average of $315.65 and a 200 day simple moving average of $290.59. The stock has a market capitalization of $4.67 trillion, a P/E ratio of 36.69, a P/E/G ratio of 2.77 and a beta of 1.08. Apple Inc. has a fifty-two week low of $225.95 and a fifty-two week high of $344.57. 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 (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 EPS. On average, sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is 12.39%.

Key Stories Impacting Apple

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 Analysts Forecast Growth

Several research firms have issued reports on AAPL. BTIG Research began coverage on Apple in a report on Monday, August 17th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Maxim Group reaffirmed a "buy" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Morgan Stanley restated an "overweight" rating and set a $360.00 price objective on shares of Apple in a research note on Wednesday, September 2nd. Finally, Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $330.61.

Insiders Place Their Bets

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the transaction, the senior vice president owned 35,790 shares of the company's stock, valued at $11,345,787.90. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ben Borders sold 116 shares of the company'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 transaction of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,872 shares of company stock worth $1,823,201 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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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