Chase Investment Counsel Corp Purchases New Position in Apple Inc. $AAPL

Key Points

• Chase Investment Counsel acquired 41,405 Apple shares worth approximately $11.98 million during the second quarter, making Apple about 2.5% of its portfolio and its 14th-largest holding.
• Institutional investors own approximately 67.73% of Apple’s outstanding stock, with Vanguard, Nuveen, Amundi, Dimensional Fund Advisors and Fisher Asset Management among the company’s largest holders.
• Apple recently exceeded quarterly earnings and revenue expectations, while analysts maintain a broadly positive outlook with a consensus “Moderate Buy” rating and a $338.80 price target; the stock was trading near $333.08.

Chase Investment Counsel Corp acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,405 shares of the iPhone maker's stock, valued at approximately $11,980,000. Apple accounts for approximately 2.5% of Chase Investment Counsel Corp's investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Apple by 1.9% in 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 during the period. Nuveen LLC lifted its position in shares of Apple by 3.8% during the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock worth $20,389,750,000 after purchasing an additional 2,725,121 shares in the last quarter. Amundi boosted its stake in shares of Apple by 23.2% in the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after purchasing an additional 13,780,080 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Apple by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock valued at $14,858,200,000 after purchasing an additional 979,832 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Apple by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 55,146,752 shares of the iPhone maker's stock valued at $14,992,196,000 after purchasing an additional 704,293 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Up 0.2%

NASDAQ:AAPL opened at $333.08 on Tuesday. 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 50 day moving average of $318.61 and a 200-day moving average of $293.06. The firm has a market capitalization of $4.86 trillion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 2.89 and a beta of 1.08. Apple Inc. has a 52 week low of $235.03 and a 52 week high of $344.57.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates 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 revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 EPS. Analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis 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%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analysts remain bullish on the iPhone cycle. Bank of America reaffirmed its Buy rating and $370 price target, citing encouraging iPhone 18 trends and potential artificial-intelligence upside. JPMorgan also maintained a Buy rating, pointing to the longer-term opportunity from the iPhone 18 cycle and foldable Duo. Apple Buy Rating Reaffirmed
• Positive Sentiment: The iPhone Duo is fueling growth expectations. Analysts and industry observers believe Apple’s first foldable iPhone could expand the premium smartphone market, strengthen the product cycle and create a new source of revenue and earnings growth. Can New iPhone Duo Power Apple's Stock Higher?
• Positive Sentiment: Apple’s antitrust exposure has eased. Elon Musk’s X Corp. and SpaceXAI moved to resolve or dismiss their antitrust claims against Apple related to its ChatGPT integration, reducing one legal overhang, although related claims against OpenAI continue. Musk's X Corp and SpaceXAI Resolve Antitrust Lawsuit
• Neutral Sentiment: iPhone 18 Pro pre-orders are sending mixed signals. Delivery estimates are generally shorter than during last year’s iPhone 17 launch, which could indicate softer demand, but may also reflect supply improvements or customers waiting for the iPhone Duo. Apple iPhone 18 Pro Pre-orders Point to Mixed Demand Signals
• Neutral Sentiment: Apple released iOS 27 with a redesigned Siri. The update expands Apple’s AI capabilities, but the initial waitlist and support for existing devices could limit near-term iPhone replacement demand. Apple Releases Redesigned Siri AI
• Negative Sentiment: Valuation and cost risks remain. With Apple trading near its 52-week high at a premium earnings multiple, investors may demand strong Duo adoption. Reports of sharply higher memory prices could pressure hardware margins or force price increases, while OpenAI’s acquisition of an AI-camera startup founded by former Apple employees highlights intensifying competition in AI-enabled devices. Apple CEO Warns of Memory Price Crisis

Insider Activity

In other news, SVP Jennifer Newstead sold 1,439 shares of the business'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 sale, the senior vice president owned 35,790 shares of the company's stock, valued at approximately $11,345,787.90. The trade was a 3.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,194 shares of company stock valued at $2,245,142 in the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AAPL shares. Arete Research raised their target price on Apple from $305.00 to $335.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Royal Bank Of Canada set a $365.00 price target on Apple in a report on Wednesday, July 15th. Rosenblatt Securities restated a "neutral" rating and set a $303.00 price objective on shares of Apple in a research note on Thursday, September 10th. Citic Securities lifted their price objective on Apple from $300.00 to $349.00 in a report on Thursday, August 6th. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $338.80.

About Apple

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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