Cadence Wealth Management LLC Makes New $661,000 Investment in Apple Inc. $AAPL

Key Points

• Cadence Wealth Management acquired 2,286 Apple shares worth approximately $661,000 during the second quarter. Other funds also initiated positions, with institutional investors collectively owning 67.73% of Apple.
• Apple reported quarterly revenue of $109.42 billion, up 16.4% year over year, and earnings of $2.02 per share, beating analyst expectations of $1.89.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $340.14, while Apple shares recently opened at $337.02.

Cadence Wealth Management LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 2,286 shares of the iPhone maker's stock, valued at approximately $661,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Academy Capital Management bought a new stake in shares of Apple during the second quarter worth $79,101,000. CFO4Life Group LLC bought a new position in shares of Apple in the second quarter worth about $34,768,000. Quantbot Technologies LP purchased a new position in Apple in the 2nd quarter worth about $3,534,000. Fortress Financial Group LLC bought a new stake in Apple during the 2nd quarter valued at about $1,787,000. Finally, Evolve Private Wealth LLC bought a new stake in Apple during the 2nd quarter valued at about $46,134,000. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, SVP Jennifer Newstead sold 1,438 shares of Apple stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $330.19, for a total value of $474,813.22. Following the transaction, the senior vice president directly owned 32,914 shares of the company's stock, valued at approximately $10,867,873.66. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 8,632 shares of company stock valued at $2,719,955 in the last three months. 0.06% of the stock is owned by company insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reaffirmed its Buy rating and assigned a $370 price target, implying further upside. The firm highlighted improving iPhone 18 Pro Max availability trends, while premium demand remains relatively resilient. BofA Sends Stark Message to Apple Stock Investors on iPhone 18
• Positive Sentiment: Apple’s new M6 Mac mini and M5 Mac Studio are being marketed as lower-cost alternatives to cloud-based AI infrastructure, potentially expanding Apple’s enterprise opportunity. Their ability to run large AI models locally could create a new hardware growth driver. With new Macs, Apple aims to take on Microsoft and Nvidia
• Positive Sentiment: Reports that Apple is developing a screenless fitness tracker to compete with Whoop and Oura point to potential long-term expansion in health and wearables, although a launch may not occur until 2028. Apple could take on Whoop with a new fitness tracker

Apple Price Performance

Shares of AAPL stock opened at $337.02 on Thursday. The stock's 50-day moving average is $321.36 and its 200 day moving average is $296.51. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34. 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 cap of $4.92 trillion, a P/E ratio of 38.65, a PEG ratio of 2.95 and a beta of 1.08.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 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 business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The company's quarterly revenue was up 16.4% on a year-over-year basis. Research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio is presently 12.39%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. Citic Securities upped their target price on shares of Apple from $300.00 to $349.00 in a research note on Thursday, August 6th. TD Cowen restated a "buy" rating and set a $400.00 price objective on shares of Apple in a report on Thursday, September 10th. Rosenblatt Securities reiterated a "neutral" rating and issued a $303.00 target price on shares of Apple in a report on Thursday, September 10th. KGI Securities lowered Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a research note on Monday, June 22nd. Finally, Arete Research upped their price objective on shares of Apple from $305.00 to $335.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $340.14.

Apple Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company's ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

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