Chase Investment Counsel Corp Boosts Stake in Apple Inc. $AAPL

Key Points

• Chase Investment Counsel increased its Apple stake by 85.5% in the first quarter, ending with 4,600 shares valued at approximately $1.17 million. Institutional investors collectively own 67.73% of Apple’s outstanding stock.
• Apple exceeded quarterly expectations, reporting $2.02 in EPS and $109.42 billion in revenue, with revenue up 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $330.44, although some firms cited valuation and near-term growth pressures.

Chase Investment Counsel Corp lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 85.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,600 shares of the iPhone maker's stock after purchasing an additional 2,120 shares during the period. Chase Investment Counsel Corp's holdings in Apple were worth $1,167,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Apple during the fourth quarter worth $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple in the first quarter valued at approximately $17,472,482,000. Cardano Risk Management B.V. raised its stake in shares of Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock valued at $11,413,990,000 after acquiring an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC boosted its stake in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after buying an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $313.33 on Friday. Apple Inc. has a 52 week low of $219.25 and a 52 week high of $344.57. The business has a fifty day simple moving average of $309.45 and a 200-day simple moving average of $283.23. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market cap of $4.57 trillion, a P/E ratio of 35.93, a P/E/G ratio of 2.68 and a beta of 1.09.

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

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have commented on AAPL. The Goldman Sachs Group reiterated a "buy" rating and issued a $360.00 price target (down from $370.00) on shares of Apple in a research note on Friday, July 31st. TD Cowen upped their price target on Apple from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. BNP Paribas Exane raised Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a report on Friday, April 17th. Weiss Ratings upgraded shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Finally, China Renaissance cut Apple from a "buy" rating to a "hold" rating and set a $280.00 price objective for the company. in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $330.44.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

Apple Company 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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