B.A. Schrock Wealth Management Inc. Buys New Stake in Apple Inc. $AAPL

Key Points

• B.A. Schrock Wealth Management acquired 23,448 Apple shares worth approximately $7.75 million in the third quarter, making Apple its eighth-largest holding at 2.6% of assets. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02, beating estimates by $0.13, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share, for a 0.3% annualized yield.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $340.12, though Apple’s premium valuation and reported iPhone Duo screen defects present potential risks ahead of its expected November 2 earnings report.

B.A. Schrock Wealth Management Inc. acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 23,448 shares of the iPhone maker's stock, valued at approximately $7,745,000. Apple accounts for 2.6% of B.A. Schrock Wealth Management Inc.'s holdings, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Prospect Hill Management LLC purchased a new position in Apple in the second quarter valued at about $146,370,000. Focus Partners Advisor Solutions LLC purchased a new stake in Apple during the 2nd quarter worth approximately $168,646,000. Wealthfront Advisers LLC purchased a new stake in Apple during the 2nd quarter worth approximately $482,388,000. Satovsky Asset Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at approximately $16,064,000. Finally, Gouws Capital LLC raised its position in shares of Apple by 136.9% in the 3rd quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker's stock valued at $12,490,000 after purchasing an additional 21,676 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ AAPL opened at $343.91 on Tuesday. 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 firm has a market capitalization of $5.02 trillion, a PE ratio of 39.44, a P/E/G ratio of 2.75 and a beta of 1.07. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $351.73. The business's fifty day moving average price is $329.47 and its two-hundred day moving average price is $294.25.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 8.75 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued 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 of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is 12.39%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Demand for Apple’s first foldable iPhone Duo appears exceptionally strong, with delivery estimates extending into January. Apple has reportedly asked suppliers to increase production by 30%, suggesting robust consumer interest and potential for a sizable upgrade cycle. Apple’s iPhone Duo Buyers Face a Wait That Could Stretch Into January
• Positive Sentiment: Apple introduced a redesigned iPad mini beginning at $699, featuring an OLED display, A20 Pro chip, improved AI performance, water resistance and Wi-Fi 7. The launch broadens Apple’s higher-end hardware lineup ahead of the holiday season. Apple Unveils $699 OLED iPad Mini
• Positive Sentiment: Apple expanded Siri’s AI language support, including Japanese, indicating continued progress in its artificial-intelligence rollout and global product integration. Apple Expands Siri AI Languages
• Neutral Sentiment: Investors are focused on Apple’s fiscal fourth-quarter results expected November 2. Analysts anticipate continued iPhone, Mac and Services growth, but the stock’s premium valuation leaves limited room for an earnings or outlook disappointment. Why Buying Apple Stock Before Q4 Earnings Could Be Risky
• Negative Sentiment: Users have reported cracks and bright lines near the hinge on some $1,999 iPhone Duo units. Apple acknowledged the issue and said affected devices would be replaced under AppleCare, but the defect creates reputational, warranty-cost and execution risks for an important new product. Apple Responds to Reports of Broken iPhone Duo Screens
• Negative Sentiment: The new iPad mini’s higher starting price may limit demand, while broader concerns about leadership succession, AI execution and rising component costs are adding to investor caution ahead of earnings. Apple Earnings Expected to Grow

Analysts Set New Price Targets

Several equities analysts have recently commented on AAPL shares. Robert W. Baird increased their target price on Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Seaport Research Partners lowered shares of Apple from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. Piper Sandler started coverage on shares of Apple in a report on Monday, August 17th. They issued an "overweight" rating on the stock. Rosenblatt Securities reiterated a "neutral" rating and set a $303.00 price objective on shares of Apple in a research note on Thursday, September 10th. Finally, China Renaissance lowered shares of Apple from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $329.00 to $280.00 in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $340.12.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,392 shares of Apple stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $345.05, for a total value of $480,309.60. Following the sale, the chief financial officer directly owned 17,539 shares in the company, valued at $6,051,831.95. This trade represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the business's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $339.62, for a total transaction of $814,748.38. Following the transaction, the senior vice president directly owned 34,795 shares of the company's stock, valued at $11,817,077.90. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 286,853 shares of company stock worth $95,477,342 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc designs, develops and sells 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 applications that support its hardware ecosystem.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.

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