Convergence Investment Partners LLC Sells 11,344 Shares of Apple Inc. $AAPL

Convergence Investment Partners LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 34.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,486 shares of the iPhone maker's stock after selling 11,344 shares during the quarter. Convergence Investment Partners LLC's holdings in Apple were worth $6,217,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Apple in the 4th quarter worth about $52,266,468,000. Nuveen LLC bought a new stake in Apple in the 1st quarter valued at about $17,472,482,000. Cardano Risk Management B.V. grew its position in shares of Apple by 890.7% during the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC grew its position in shares of Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. Institutional investors own 67.73% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple introduced the iPhone Duo, its first foldable iPhone, starting at $1,999. The device features a 7.6-inch unfolded display, a 5.4-inch outer screen and a redesigned hinge, creating a potential new high-margin product category and growth opportunity. Apple unveils iPhone Duo
• Positive Sentiment: The iPhone 18 Pro lineup adds a 2-nanometer A20 Pro chip, camera improvements, longer battery life and upgraded Siri AI features. These upgrades could support premium pricing and strengthen Apple’s artificial-intelligence strategy. Apple iPhone 18 Pro launched
• Positive Sentiment: Apple also launched AirPods 5, Apple Watch Series 12 and Watch Ultra 4, adding improved noise cancellation, health tracking and Apple Intelligence features. The broad hardware release may support ecosystem engagement and services revenue. Apple introduces AirPods 5
• Neutral Sentiment: New CEO John Ternus used his first keynote to emphasize that the iPhone remains Apple’s core platform, signaling continuity with the company’s established strategy while adding foldable hardware and AI capabilities. Apple’s new CEO is reviving a Steve Jobs strategy
• Neutral Sentiment: Early reviews of the iPhone Duo were generally intrigued, but demand, production capacity and customer acceptance remain unproven. Analysts estimate the foldable could generate substantial revenue if Apple can avoid supply constraints. iPhone Duo first impressions review
• Negative Sentiment: Apple raised iPhone 18 Pro pricing by $100 and increased prices on older iPhone models. While higher prices could protect revenue and margins, they may limit unit demand, particularly as consumers face elevated component and memory costs. Apple raises prices on older iPhones
• Negative Sentiment: Huawei launched its Mate XT2 tri-fold smartphone ahead of Apple’s event, highlighting intense competition in foldables. Investors must also monitor manufacturing complexity, elevated inventory and the risk that the highly anticipated launch becomes a sell-the-news event. Huawei launches Mate XT2

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AAPL shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday, July 31st. The Goldman Sachs Group initiated coverage on Apple in a research report on Monday, August 17th. They set a "buy" rating on the stock. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Tigress Financial reaffirmed a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $331.53.

Insider Activity

In related 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 value of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the business's stock in a transaction dated 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 approximately $11,345,787.90. The trade was a 3.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,872 shares of company stock worth $1,823,201 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 0.3%

Shares of AAPL opened at $315.34 on Thursday. Apple Inc. has a one year low of $225.95 and a one year high of $344.57. The company has a market cap of $4.60 trillion, a P/E ratio of 36.16, a P/E/G ratio of 2.74 and a beta of 1.08. 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 firm has a 50 day simple moving average of $317.37 and a two-hundred day simple moving average of $291.73.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 earnings per share. Research analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed 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. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is currently 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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