Elevation Point Wealth Partners LLC Takes $169.90 Million Position in Apple Inc. $AAPL

Key Points

• Elevation Point Wealth Partners purchased 587,164 Apple shares worth approximately $169.9 million, making Apple its fourth-largest holding at 3.1% of the portfolio.
• Institutional investors and hedge funds own 67.73% of Apple, with several major firms—including Nuveen, Amundi and Dimensional Fund Advisors—recently increasing their positions.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, exceeding analyst estimates; Wall Street maintains a “Moderate Buy” consensus with an average price target of $340.14.

Elevation Point Wealth Partners LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 587,164 shares of the iPhone maker's stock, valued at approximately $169,902,000. Apple makes up approximately 3.1% of Elevation Point Wealth Partners LLC's portfolio, making the stock its 4th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. Nuveen LLC grew its stake in Apple by 3.8% in the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock valued at $20,389,750,000 after acquiring an additional 2,725,121 shares during the last quarter. Amundi increased its holdings in Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after acquiring an additional 13,780,080 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Apple by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock worth $14,858,200,000 after acquiring an additional 979,832 shares during the last quarter. Fisher Asset Management LLC raised its position in Apple by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 55,146,752 shares of the iPhone maker's stock worth $14,992,196,000 after acquiring an additional 704,293 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Apple in the second quarter valued at about $13,658,359,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In other news, SVP Jennifer Newstead sold 1,438 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $330.19, for a total transaction of $474,813.22. Following the completion of the transaction, the senior vice president owned 32,914 shares of the company's stock, valued at $10,867,873.66. This represents a 4.19% decrease in their position. The transaction was disclosed in a legal 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. In the last three months, insiders sold 8,632 shares of company stock valued at $2,719,955. 0.06% of the stock is owned by insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reaffirmed its Buy rating and assigned a $370 price target, implying further upside. The firm highlighted improving iPhone 18 Pro Max availability trends, while premium demand remains relatively resilient. BofA Sends Stark Message to Apple Stock Investors on iPhone 18
• Positive Sentiment: Apple’s new M6 Mac mini and M5 Mac Studio are being marketed as lower-cost alternatives to cloud-based AI infrastructure, potentially expanding Apple’s enterprise opportunity. Their ability to run large AI models locally could create a new hardware growth driver. With new Macs, Apple aims to take on Microsoft and Nvidia
• Positive Sentiment: Reports that Apple is developing a screenless fitness tracker to compete with Whoop and Oura point to potential long-term expansion in health and wearables, although a launch may not occur until 2028. Apple could take on Whoop with a new fitness tracker

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AAPL shares. China Renaissance cut shares of Apple from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $329.00 to $280.00 in a research note on Tuesday, August 4th. Seaport Research Partners lowered Apple from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. TD Cowen reiterated a "buy" rating and set a $400.00 target price on shares of Apple in a report on Thursday, September 10th. Oppenheimer reissued a "market perform" rating on shares of Apple in a research report on Thursday, September 10th. Finally, Piper Sandler assumed coverage on Apple in a report on Monday, August 17th. They issued an "overweight" rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $340.14.

Apple Trading Down 0.8%

Shares of Apple stock opened at $337.02 on Thursday. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34. The firm has a market cap of $4.92 trillion, a PE ratio of 38.65, a P/E/G ratio of 2.95 and a beta of 1.08. The business's fifty day moving average is $321.36 and its two-hundred day moving average is $296.51. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

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 business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 earnings per share. Analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current 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 issued a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's payout ratio is 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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