Ashton Thomas Private Wealth LLC Boosts Stake in Apple Inc. $AAPL

Key Points

• Ashton Thomas Private Wealth LLC increased its Apple stake by 1.6% in the second quarter, owning 590,605 shares valued at approximately $170.9 million. Institutional investors hold 67.73% of Apple’s outstanding shares.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also paid a quarterly dividend of $0.27 per share, equivalent to a 0.3% annual yield.
• Apple has a consensus “Moderate Buy” rating and an average price target of $330.61, but sentiment is mixed. Investors are weighing interest in potential new products, including a foldable iPhone, against supply constraints, higher memory costs, leadership-transition uncertainty and legal risks.

Ashton Thomas Private Wealth LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 590,605 shares of the iPhone maker's stock after buying an additional 9,401 shares during the period. Apple comprises approximately 3.6% of Ashton Thomas Private Wealth LLC's investment portfolio, making the stock its 4th biggest position. Ashton Thomas Private Wealth LLC's holdings in Apple were worth $170,897,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth about $65,000. Timmons Wealth Management LLC bought a new position in shares of Apple in the 4th quarter worth about $69,000. Finally, 49 Wealth Management LLC raised its position in shares of Apple by 15.7% in the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock worth $76,000 after acquiring an additional 40,543 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Down 2.5%

AAPL stock opened at $319.97 on Friday. The stock has a fifty day moving average of $315.65 and a 200-day moving average of $290.34. Apple Inc. has a fifty-two week low of $225.95 and a fifty-two week high of $344.57. The company has a market capitalization of $4.67 trillion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating 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 business had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the previous year, the business posted $1.57 EPS. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

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

Insider Activity

In other news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total value of $456,177.39. Following the sale, the senior vice president directly owned 35,790 shares of the company's stock, valued at approximately $11,345,787.90. This represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of the firm'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 of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 5,872 shares of company stock worth $1,823,201. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on AAPL. Phillip Securities lowered Apple from a "hold" rating to a "moderate sell" rating in a research report on Monday, August 3rd. UBS Group reiterated a "neutral" rating on shares of Apple in a report on Friday, July 31st. Jefferies Financial Group lowered Apple from a "buy" rating to an "underperform" rating and dropped their price target for the company from $285.56 to $263.66 in a research note on Monday, August 10th. HSBC upgraded Apple from a "hold" rating to a "buy" rating and increased their price target for the stock from $260.00 to $366.00 in a report on Thursday, July 16th. Finally, Bank of America reiterated a "buy" rating and issued a $380.00 price objective on shares of Apple in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $330.61.

More Apple News

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

Apple Company 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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