Centric Wealth Management Makes New Investment in Apple Inc. $AAPL

Key Points

• Centric Wealth Management initiated a $18.5 million position in Apple during the second quarter, purchasing 66,927 shares. Apple now represents approximately 2.8% of the firm’s portfolio, while institutional investors collectively own 67.73% of the stock.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $334.91, though several firms have downgraded the stock or maintained neutral views.
• Apple reported quarterly revenue growth of 16.4% and beat earnings expectations, but investors face risks from its premium valuation, rising component costs and margin pressure. Recent insider selling was modest, including a roughly $456,000 sale by SVP Jennifer Newstead.

Centric Wealth Management bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 66,927 shares of the iPhone maker's stock, valued at approximately $18,527,000. Apple makes up approximately 2.8% of Centric Wealth Management's investment portfolio, making the stock its 6th largest position.

A number of other institutional investors also recently modified their holdings of the company. Prospect Hill Management LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $146,370,000. Prospect Financial Services LLC acquired a new position in Apple during the second quarter worth $5,054,000. Focus Partners Advisor Solutions LLC bought a new position in Apple in the second quarter valued at $168,646,000. Frontier Asset Management LLC bought a new position in Apple in the second quarter valued at $352,000. Finally, State of Wyoming acquired a new stake in Apple in the 2nd quarter valued at $14,107,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total value of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares of the company's stock, valued at $11,345,787.90. This represents a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 7,310 shares of company stock worth $2,279,378. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on AAPL. KeyCorp reissued an "underweight" rating on shares of Apple in a research report on Friday, September 4th. TD Cowen reaffirmed a "buy" rating and issued a $400.00 target price on shares of Apple in a research report on Thursday. Seaport Research Partners lowered Apple from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. Wells Fargo & Company reissued an "overweight" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $334.91.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple’s $1,999 foldable iPhone, scheduled to arrive October 23, could drive upgrades, deepen ecosystem engagement and add a high-margin premium product category. Some analysts believe foldables could eventually account for 10% to 20% of iPhone revenue. How Wall Street viewed Apple's foldable iPhone
• Positive Sentiment: Analysts see renewed hardware momentum. Alongside the Duo, Apple unveiled the iPhone 18 Pro lineup, new Apple Watch models, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 target, supporting the bullish reaction. TD Cowen reiterates Buy rating
• Positive Sentiment: Carrier promotions could reduce sticker-price resistance. T-Mobile, AT&T and Verizon are offering installment and trade-in incentives for the expensive Duo, potentially broadening access without an immediate industrywide price war. Wireless carrier promotions
• Neutral Sentiment: Wall Street remains divided. Bank of America retained a Buy rating but lowered its price target to $370, while Rosenblatt kept a Neutral rating and $303 target. The debate centers on Duo demand, supply constraints, valuation and the durability of the upgrade cycle.
• Negative Sentiment: Margin pressure remains the main risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Management has already guided to lower gross margins, raising concerns that pricing may not fully offset higher costs. Apple margin pressure from memory costs
• Negative Sentiment: Premium valuation and competition limit upside. Apple trades near the upper end of its historical earnings multiple, while Huawei, Xiaomi and Samsung remain strong competitors in China and the foldable market.
• Negative Sentiment: Insider selling is a modest cautionary signal. SVP Jennifer Newstead sold approximately $456,000 of stock, reducing her direct holdings by about 4%, although she retains a substantial position.

Apple Stock Performance

AAPL opened at $332.27 on Monday. Apple Inc. has a 12-month low of $229.02 and a 12-month high of $344.57. The stock has a market cap of $4.85 trillion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.89 and a beta of 1.08. The business has a 50 day moving average of $318.20 and a 200-day moving average of $292.63. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for 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%. Apple's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS. On average, equities research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

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

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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