Asset Allocation Strategies LLC Acquires 8,807 Shares of Apple Inc. $AAPL

Key Points

• Asset Allocation Strategies LLC acquired 8,807 Apple shares worth approximately $2.55 million, making Apple its 22nd-largest holding; institutional investors collectively own 67.73% of the company.
• Apple reported quarterly earnings of $2.02 per share on $109.42 billion in revenue, surpassing analyst estimates, while revenue grew 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and a $340.14 price target, though Apple faces legal and regulatory risks, including a potential $5.7 billion patent verdict and revived competition-related litigation.

Asset Allocation Strategies LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,807 shares of the iPhone maker's stock, valued at approximately $2,548,000. Apple accounts for about 0.4% of Asset Allocation Strategies LLC's investment portfolio, making the stock its 22nd biggest position.

A number of other hedge funds also recently modified their holdings of AAPL. Ruggaard & Associates LLC bought a new stake in shares of Apple during the 2nd quarter worth $7,454,000. Equitable Holdings Inc. acquired a new stake in shares of Apple during the second quarter worth $303,082,000. Centaurus Financial Inc. purchased a new stake in shares of Apple during the second quarter valued at $59,517,000. Reality Financial Planning Services LLC acquired a new position in shares of Apple in the 2nd quarter valued at $392,000. Finally, Larch Capital Partners LLC purchased a new position in Apple in the 2nd quarter worth about $335,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Down 0.8%

AAPL stock opened at $338.40 on Tuesday. The company has a 50 day moving average of $321.79 and a two-hundred day moving average of $298.18. The company has a market cap of $4.94 trillion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.96 and a beta of 1.08. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34. 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 posted its quarterly 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. The business had revenue of $109.42 billion for 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 for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders 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 payout ratio is currently 12.39%.

Insider Activity at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the transaction, the senior vice president owned 44,391 shares in the company, valued at approximately $15,095,603.46. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 11,031 shares of company stock valued at $3,535,759. Insiders own 0.06% of the company's stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday?
• Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump
• Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters
• Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight
• Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales
• Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales

Analyst Ratings Changes

Several research analysts have commented on AAPL shares. Morgan Stanley reiterated an "overweight" rating and issued a $360.00 target price on shares of Apple in a report on Wednesday, September 2nd. KGI Securities lowered shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. Raymond James Financial restated a "market perform" rating on shares of Apple in a research report on Friday, July 31st. Citic Securities raised their price objective on shares of Apple from $300.00 to $349.00 in a research note on Thursday, August 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.14.

Apple 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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