Baird Financial Group Inc. Acquires 162,030 Shares of Apple Inc. $AAPL

Key Points

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Baird Financial Group Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,163,392 shares of the iPhone maker's stock after purchasing an additional 162,030 shares during the period. Apple makes up about 4.0% of Baird Financial Group Inc.'s holdings, making the stock its biggest position. Baird Financial Group Inc. owned about 0.07% of Apple worth $2,940,879,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Avenir Tech Ltd purchased a new stake in shares of Apple during the second quarter worth $29,000. Longfellow Investment Management Co. LLC bought a new position in shares of Apple in the second quarter worth $30,000. Lifetime Wealth Management P.C. purchased a new position in shares of Apple in the fourth quarter valued at $41,000. Ascentis Wealth Management LLC raised its stake in shares of Apple by 822.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock valued at $85,000 after purchasing an additional 260,792 shares during the period. Finally, Basso Capital Management L.P. bought a new stake in shares of Apple during the 4th quarter valued at $88,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AAPL. Raymond James Financial restated a "market perform" rating on shares of Apple in a research note on Friday, July 31st. HSBC reaffirmed a "buy" rating and set a $366.00 price objective on shares of Apple in a research note on Tuesday, September 8th. Piper Sandler initiated coverage on shares of Apple in a report on Monday, August 17th. They set an "overweight" rating on the stock. The Goldman Sachs Group started coverage on shares of Apple in a report on Monday, August 17th. They issued a "buy" rating for the company. Finally, KGI Securities lowered shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target for the company. in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $340.02.

Apple Trading Down 1.1%

Shares of AAPL opened at $336.64 on Friday. The firm's 50 day simple moving average is $322.61 and its 200 day simple moving average is $302.99. 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 company has a market capitalization of $4.91 trillion, a P/E ratio of 38.61, a P/E/G ratio of 2.68 and a beta of 1.07. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34.

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, topping the consensus estimate of $1.89 by $0.13. The company 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%. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. Sell-side analysts forecast that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders 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 was Monday, August 10th. Apple's dividend payout ratio is presently 12.39%.

Insider Transactions at Apple

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total value of $806,495.82. Following the completion of the sale, the senior vice president owned 41,992 shares of the company's stock, valued at $14,116,870.56. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O'brien sold 46,389 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the completion of the sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This represents a 25.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 279,383 shares of company stock valued at $92,912,517 over the last 90 days. Company insiders own 0.06% of the company's stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Apple Company 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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