CoreCap Advisors LLC Boosts Position in Apple Inc. $AAPL

Key Points

• CoreCap Advisors increased its Apple stake by 15.4% in the second quarter, bringing its holdings to 190,168 shares valued at approximately $55.0 million. Institutional investors collectively own 67.73% of Apple.
• Analyst sentiment remains broadly positive, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $330.53, despite some hold and sell ratings.
• Apple exceeded quarterly expectations with $2.02 in EPS and $109.42 billion in revenue, up 16.4% year over year. The company also paid a quarterly dividend of $0.27 per share, while two insiders reported modest stock sales.

CoreCap Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 15.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,168 shares of the iPhone maker's stock after purchasing an additional 25,434 shares during the quarter. Apple comprises approximately 1.6% of CoreCap Advisors LLC's portfolio, making the stock its 9th biggest holding. CoreCap Advisors LLC's holdings in Apple were worth $55,027,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Lifetime Wealth Management P.C. bought a new position in Apple in the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the last quarter. LSV Asset Management bought a new stake in Apple during the fourth quarter worth about $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple in the 4th quarter worth about $69,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the 4th quarter worth about $76,000. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Jennifer Newstead sold 1,439 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $307.75, for a total transaction of $442,852.25. Following the completion of the sale, the senior vice president directly owned 40,107 shares in the company, valued at $12,342,929.25. This represents a 3.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ben Borders sold 116 shares of the stock in a transaction 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 sale, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. The trade was a 0.30% 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. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. Oppenheimer reissued a "market perform" rating on shares of Apple in a report on Friday, July 31st. DZ Bank lowered Apple from a "buy" rating to a "hold" rating and set a $310.00 target price for the company. in a research note on Tuesday, August 4th. Rothschild & Co Redburn set a $400.00 price target on shares of Apple and gave the company a "buy" rating in a research report on Monday. DA Davidson reissued a "neutral" rating and set a $270.00 price target on shares of Apple in a research note on Friday, July 31st. Finally, Rosenblatt Securities boosted their price objective on shares of Apple from $276.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $330.53.

Apple Trading Up 1.5%

Shares of AAPL stock opened at $310.03 on Wednesday. The business has a 50-day moving average of $309.45 and a 200 day moving average of $286.11. 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 Inc. has a 1-year low of $223.78 and a 1-year high of $344.57. The stock has a market capitalization of $4.52 trillion, a PE ratio of 35.55, a P/E/G ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the previous year, the firm earned $1.57 EPS. The business's quarterly revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were 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 was Monday, August 10th. Apple's payout ratio is presently 12.39%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple will replace the European Union’s controversial per-install Core Technology Fee with a simpler 5% commission on digital transactions for apps distributed outside the App Store or through alternative marketplaces. The changes, effective October 1, are intended to resolve disputes related to the EU’s Digital Markets Act and reduce regulatory uncertainty. Apple overhauls Europe app store fees to resolve payments clash
• Positive Sentiment: Apple is also making it easier for developers to operate alternative app stores in Europe. Investors may view the settlement as removing a persistent overhang and avoiding potentially larger penalties or prolonged legal battles. Apple overhauls its EU App Store fees, loosens rules for alternative app stores
• Positive Sentiment: Rothschild & Co. Redburn upgraded Apple from “Hold” or “Neutral” to “Buy” and raised its price target to $400 from $260. The bullish case centers on a potential premium foldable iPhone—modeled at roughly 14 million units priced near $2,199—and a possible improvement in Apple’s artificial-intelligence strategy. Could Apple stock jump 30%? This Nvidia AI bet may hold the key
• Neutral Sentiment: The new EU terms may improve developer relations and compliance, but the lower and broader commission structure could reduce App Store economics over time. Apple has acknowledged that antitrust actions and new rules are beginning to weigh on its approximately $100 billion Services business. Antitrust attacks start to bite into Apple’s Services business
• Negative Sentiment: Appaloosa Management, led by David Tepper, disclosed put positions referencing about 835,000 Apple shares. The position signals caution toward AAPL’s valuation and growth outlook, although it is an individual investor’s trade rather than a fundamental change. Billionaire David Tepper Is Short Apple
• Negative Sentiment: U.S. officials reportedly urged Apple not to purchase memory chips from Chinese suppliers. Complying could raise component costs or constrain sourcing flexibility as AI demand tightens memory supply, creating a potential margin headwind. Market Chatter: Apple May Buy Chinese Memory Chips Despite US Request

Apple 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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