Brooks Moore & Associates Inc. Purchases New Position in Apple Inc. $AAPL

Key Points

• Brooks Moore & Associates initiated a position in Apple during the second quarter, buying 19,940 shares valued at approximately $5.77 million. Apple now represents about 2.6% of the firm's portfolio, while institutional investors collectively own 67.73% of the company.
• Apple reported quarterly earnings of $2.02 per share, exceeding estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share, equivalent to a 0.3% yield.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $340.14, although some analysts maintain neutral or underweight ratings. Apple shares recently traded at $329.40, near the consensus target, while insiders have sold shares worth about $3.54 million over the past 90 days.

Brooks Moore & Associates Inc. acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,940 shares of the iPhone maker's stock, valued at approximately $5,770,000. Apple makes up about 2.6% of Brooks Moore & Associates Inc.'s investment portfolio, making the stock its 12th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc purchased a new position in Apple in the second quarter valued at $65,950,297,000. Bank of America Corp DE acquired a new stake in shares of Apple during the 2nd quarter valued at about $36,986,090,000. Legal & General Group Plc acquired a new stake in Apple in the second quarter valued at approximately $30,443,242,000. Nuveen LLC increased its holdings in Apple by 3.8% in the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock worth $20,389,750,000 after acquiring an additional 2,725,121 shares in the last quarter. Finally, Amundi raised its position in shares of Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ AAPL opened at $329.40 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.81 trillion, a PE ratio of 37.78, a P/E/G ratio of 2.94 and a beta of 1.08. The stock has a fifty day simple moving average of $321.83 and a 200-day simple moving average of $298.67. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The company's revenue was up 16.4% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given 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 of this dividend was Monday, August 10th. Apple's dividend payout ratio is currently 12.39%.

Insider Activity at Apple

In other news, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the transaction, the senior vice president owned 44,391 shares of the company's stock, valued at approximately $15,095,603.46. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 11,031 shares of company stock valued at $3,535,759 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research analyst reports. Arete Research lifted their price objective on Apple from $305.00 to $335.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a report on Friday. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a research note on Thursday, September 10th. Barclays reiterated an "underweight" rating and set a $245.00 price target (down from $253.00) on shares of Apple in a research report on Friday, July 31st. Finally, Raymond James Financial reissued a "market perform" rating on shares of Apple in a research note on Friday, July 31st. One 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $340.14.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: CEO John Ternus is reportedly considering a leaner, engineering-led structure that could eliminate layers of middle management, accelerate product launches and make Apple more experimental. Investors may view the changes as a response to concerns about slower innovation, particularly in artificial intelligence. Apple CEO overhaul report
• Positive Sentiment: Apple Pay is reportedly launching in a key market, potentially expanding transaction volume and services revenue. Separately, Apple remains a major customer for TSMC’s advanced 2-nanometer chips, supporting future device performance and product differentiation. Apple Pay launch report
• Neutral Sentiment: Apple’s large buyback program remains a relative strength among the Magnificent Seven, although the immediate effect is financial support rather than a new growth catalyst. Apple and Nvidia buybacks
• Negative Sentiment: Bank of America warned that Meta’s Muse could change how consumers search, shop and initiate payments. Even if users continue buying iPhones, AI agents could divert discovery and referral activity away from Apple’s ecosystem, putting pressure on services growth and Apple’s AI strategy. Apple faces threat from Meta Muse
• Negative Sentiment: Reports that Ternus may plan layoffs as memory-chip costs rise raise concerns about gross-margin pressure and slower near-term earnings growth. Apple has already indicated that higher memory expenses could reduce profit per device.
• Negative Sentiment: Apple also faces legal and operational overhangs, including a $5.7 billion patent verdict, a revived UK consumer lawsuit involving Amazon marketplace sales, and an emergency iOS security update addressing a flaw that could enable arbitrary code execution. Apple patent verdict

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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