CacheTech Inc. Buys 5,164 Shares of Apple Inc. $AAPL

Key Points

• CacheTech Inc. increased its Apple stake by 31.8% in the first quarter, purchasing 5,164 additional shares to hold 21,411 shares valued at approximately $5.43 million. Hedge funds and institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share on $109.42 billion in revenue, exceeding analyst expectations and marking 16.4% year-over-year revenue growth. The company also declared a $0.27 quarterly dividend, equal to a 0.3% yield.
• Analysts maintain a “Moderate Buy” consensus on Apple, with an average price target of $330.44 versus the reported opening price of $312.41. However, some analysts cited slowing Services growth, rising memory costs, supply constraints and Apple’s elevated valuation as risks.

CacheTech Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,411 shares of the iPhone maker's stock after purchasing an additional 5,164 shares during the quarter. CacheTech Inc.'s holdings in Apple were worth $5,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Himension Capital Singapore PTE. LTD. raised its stake in shares of Apple by 179.9% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 188,185 shares of the iPhone maker's stock worth $47,759,000 after purchasing an additional 120,946 shares during the period. ABN Amro Investment Solutions raised its holdings in shares of Apple by 29.9% in the 1st quarter. ABN Amro Investment Solutions now owns 1,531,854 shares of the iPhone maker's stock worth $388,769,000 after purchasing an additional 352,439 shares during the period. Pacific Sun Financial Corp lifted its stake in Apple by 0.6% in the first quarter. Pacific Sun Financial Corp now owns 41,604 shares of the iPhone maker's stock valued at $10,559,000 after purchasing an additional 242 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in Apple in the first quarter valued at approximately $11,897,000. Finally, Burling Wealth Partners LLC grew its holdings in Apple by 0.6% during the first quarter. Burling Wealth Partners LLC now owns 130,018 shares of the iPhone maker's stock valued at $32,997,000 after purchasing an additional 785 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $312.41 on Friday. Apple Inc. has a 52-week low of $216.58 and a 52-week high of $344.57. The stock has a fifty day moving average of $309.43 and a 200 day moving average of $283.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm has a market capitalization of $4.56 trillion, a price-to-earnings ratio of 35.83, a P/E/G ratio of 2.67 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share 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 business had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter in the previous year, the business posted $1.57 earnings per share. The firm'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 8.74 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's payout ratio is currently 12.39%.

Insider Activity

In other news, insider Ben Borders sold 116 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was 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 in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AAPL shares. Monness Crespi & Hardt boosted their target price on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Wedbush reissued an "outperform" rating and issued a $400.00 price objective on shares of Apple in a report on Friday, June 5th. Citigroup reaffirmed a "buy" rating and set a $365.00 price objective (up from $315.00) on shares of Apple in a report on Monday, July 13th. DA Davidson reiterated a "neutral" rating and issued a $270.00 target price on shares of Apple in a research note on Friday, July 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have given a Hold rating and three 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 target price of $330.44.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: App Store revenue rose 0.6% year over year to $3.4 billion during the first 35 days of Apple’s fiscal fourth quarter, despite a 4% decline in iPhone and iPad downloads. Revenue per download increased 4.7% to $1.02, suggesting stronger monetization and supporting the Services business. Apple App Store revenue ticks up despite falling downloads
• Positive Sentiment: Apple’s fiscal third-quarter revenue reached a June-quarter record of $109.4 billion, up 16% year over year, while earnings exceeded estimates. Reports also point to broad iPhone, Mac and Services demand, resilient iPhone sales and continued growth in India, providing a fundamental counterweight to recent market concerns. Apple’s Quarterly iPhone Sales Were Even Better Than They Seem
• Positive Sentiment: Some analysts and market commentators continue to recommend buying the pullback, arguing that Apple’s ecosystem, product pipeline and long-term earnings potential remain attractive despite near-term volatility. 3 Reasons to Buy Apple Stock on the Dip
• Neutral Sentiment: OpenAI asked a federal judge to dismiss Apple’s trade-secrets lawsuit, denying that it misappropriated confidential information through former Apple employees. The filing creates legal and reputational uncertainty, although the financial impact is not yet clear. OpenAI asks US judge to dismiss Apple’s trade secrets case
• Negative Sentiment: Analysts at Phillip Securities, DZ Bank and China Renaissance lowered their views on Apple to Moderate Sell or Hold. Concerns include slowing Services growth, elevated memory costs, supply constraints, policy risks and Apple’s premium valuation.
• Negative Sentiment: Services revenue grew about 12% to $30.7 billion, making it the slowest-growing of Apple’s three largest businesses. Tim Cook also warned that rising memory prices could pressure margins, while the CEO transition adds uncertainty after a record quarter. Tim Cook’s Last Quarter as CEO

Apple 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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