Core Capital Management & Research inc. Purchases New Stake in Apple Inc. $AAPL

Key Points

• Core Capital Management & Research purchased 1,949 Apple shares worth approximately $614,000 during the second quarter. Institutional investors and hedge funds collectively own 67.73% of Apple’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $340.02, though ratings range from Strong Buy to Sell.
• Apple reported quarterly EPS of $2.02, beating estimates, while revenue rose 16.4% year over year to $109.42 billion. Insiders sold roughly $92.9 million of stock in the last quarter, primarily to cover tax obligations tied to equity awards.

Core Capital Management & Research inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,949 shares of the iPhone maker's stock, valued at approximately $614,000.

Several other institutional investors also recently modified their holdings of AAPL. Avenir Tech Ltd bought a new stake in Apple in the second quarter valued at approximately $29,000. Longfellow Investment Management Co. LLC acquired a new stake in Apple during the second quarter worth approximately $30,000. Lifetime Wealth Management P.C. bought a new position in Apple during the 4th quarter worth $41,000. ABS Investment Management LLC bought a new position in Apple during the 2nd quarter worth $376,168,000. Finally, Basso Capital Management L.P. bought a new position in Apple during the 4th quarter worth $88,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AAPL shares. JPMorgan Chase & Co. reissued a "buy" rating on shares of Apple in a research report on Monday, September 21st. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a research report on Thursday, September 10th. UBS Group reiterated a "neutral" rating on shares of Apple in a research note on Tuesday, October 6th. Bank of America restated a "buy" rating and issued a $370.00 price target on shares of Apple in a research report on Wednesday, September 23rd. Finally, Morgan Stanley set a $355.00 price target on shares of Apple and gave the stock an "overweight" rating in a research report on Thursday, October 1st. 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 issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $340.02.

Insider Buying and Selling at Apple

In other news, 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 owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy Cook sold 191,753 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the transaction, the insider directly owned 3,264,168 shares of the company's stock, valued at $1,086,837,377.28. The trade was a 5.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 279,383 shares of company stock valued at $92,912,517. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of Apple stock opened at $336.64 on Monday. The company's 50 day moving average price is $322.61 and its two-hundred day moving average price is $303.36. The firm has a market capitalization of $4.91 trillion, a P/E ratio of 38.61, a P/E/G ratio of 2.68 and a beta of 1.07. 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 current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the prior year, the business earned $1.57 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts forecast 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. Shareholders of record on Monday, August 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is 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

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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