CORDA Investment Management LLC. Buys 2,621 Shares of Apple Inc. $AAPL

Key Points

• CORDA Investment Management increased its Apple position by 1.4%, purchasing 2,621 additional shares to hold 186,531 shares valued at approximately $54.0 million. Apple represents 3.3% of the firm’s portfolio, while institutional investors collectively own 67.73% of the stock.
• Apple recently exceeded quarterly earnings 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, or a 0.3% annualized yield.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $340.02, although concerns include Apple’s elevated valuation, potential margin pressure, and reports of weaker demand for premium iPhone models.

CORDA Investment Management LLC. grew its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,531 shares of the iPhone maker's stock after buying an additional 2,621 shares during the period. Apple comprises 3.3% of CORDA Investment Management LLC.'s portfolio, making the stock its 10th largest position. CORDA Investment Management LLC.'s holdings in Apple were worth $53,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diamant Asset Management Inc. lifted its position in shares of Apple by 24,974.3% during the 1st quarter. Diamant Asset Management Inc. now owns 26,614,323 shares of the iPhone maker's stock worth $6,754,449,000 after buying an additional 26,508,181 shares during the period. Amundi boosted its stake in Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after buying an additional 13,780,080 shares in the last quarter. Ascentis Wealth Management LLC boosted its stake in Apple by 27,622.7% in the 2nd quarter. Ascentis Wealth Management LLC now owns 8,788,371 shares of the iPhone maker's stock valued at $2,543,003,000 after buying an additional 8,756,670 shares in the last quarter. SEB Asset Management AB acquired a new stake in Apple in the 1st quarter valued at $1,265,497,000. Finally, Everett Harris & Co. CA bought a new stake in Apple in the second quarter valued at $1,182,612,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Down 1.1%

AAPL stock opened at $336.64 on Friday. The stock's 50 day simple moving average is $322.61 and its 200 day simple moving average is $302.99. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The company has a market cap of $4.91 trillion, a P/E ratio of 38.61, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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 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 revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 earnings per share. On average, research analysts expect that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors 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 yield of 0.3%. Apple's dividend payout ratio (DPR) is presently 12.39%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America reiterated a "buy" rating and set a $370.00 price objective on shares of Apple in a research note on Wednesday, September 23rd. BTIG Research started coverage on shares of Apple in a research note on Monday, August 17th. They issued a "neutral" rating on the stock. Loop Capital set a $380.00 target price on shares of Apple in a research note on Friday, September 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $340.02.

Insider Buying and Selling at Apple

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the transaction, the senior vice president owned 39,593 shares in the company, valued at approximately $13,145,271.93. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. 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 sold 279,383 shares of company stock worth $92,912,517. 0.06% of the stock is owned by company insiders.

About Apple

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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