Equity Wealth Partners LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 51.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,646 shares of the iPhone maker's stock after acquiring an additional 1,925 shares during the period. Apple accounts for approximately 0.6% of Equity Wealth Partners LLC's holdings, making the stock its 22nd biggest holding. Equity Wealth Partners LLC's holdings in Apple were worth $1,634,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Lifetime Wealth Management P.C. bought a new position in Apple in the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at approximately $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter worth approximately $69,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple during the 4th quarter worth approximately $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of Apple stock opened at $316.85 on Tuesday. The stock has a market cap of $4.62 trillion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.74 and a beta of 1.09. The firm's 50-day moving average is $312.63 and its 200 day moving average is $288.83. Apple Inc. has a 1 year low of $225.95 and a 1 year high of $344.57. 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 released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share 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 analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $1.57 EPS. Sell-side analysts anticipate that Apple Inc. will post 8.76 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's dividend payout ratio (DPR) is 12.39%.
Insider Activity at Apple
In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $310.95, for a total transaction of $447,457.05. Following the sale, the senior vice president directly owned 37,229 shares in the company, valued at approximately $11,576,357.55. This trade represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. 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. Insiders have sold 4,433 shares of company stock valued at $1,367,024 in the last three months. 0.06% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on AAPL shares. Morgan Stanley lowered their target price on Apple from $364.00 to $360.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research note on Monday, June 8th. DA Davidson reiterated a "neutral" rating and issued a $270.00 price objective on shares of Apple in a report on Friday, July 31st. Raymond James Financial reissued a "market perform" rating on shares of Apple in a research report on Friday, July 31st. Finally, TD Cowen boosted their target price on shares of Apple from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $330.53.
Check Out Our Latest Stock Analysis on Apple
Key Stories Impacting Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple’s leadership handoff could support innovation: Ternus is a longtime hardware executive and product builder, while Cook will remain with Apple as executive chairman. Investors are also looking ahead to the company’s September 9 product event, which could feature new iPhones and other devices. Apple To Begin New Chapter With CEO John Ternus
- Positive Sentiment: Several reports highlight continuing operating strengths, including strong iPhone share, potential gains as global smartphone shipments weaken, robust recent earnings, and increased fiscal-year EPS estimates. Apple’s planned U.S. manufacturing and AI-server investment could also reduce tariff and supply-chain exposure. Global Phone Shipments Drop, but Apple Positioned for Record iOS Market Share Gain
- Neutral Sentiment: Cook’s departure is being viewed as both a successful succession plan and a major test. His final message endorsed Ternus and emphasized continuity, but investors will judge the new CEO quickly based on the fall product cycle, Siri and Apple’s broader AI strategy. John Ternus to lead Apple into the age of AI
- Negative Sentiment: Apple’s AI strategy remains a key concern because it relies substantially on outside partners while rivals are perceived as farther ahead. At the same time, veteran executive Phil Schiller relinquished oversight of the App Store and product events, adding uncertainty during the CEO change. Apple's top App Store executive departs operational roles
- Negative Sentiment: Rising memory costs reportedly prompted significant Mac and iPad price increases, potentially pressuring demand. Apple also disclosed allegations in a trade-secret lawsuit that an OpenAI employee accessed a circuit schematic, creating legal and competitive-risk headlines. Apple alleges OpenAI employee accessed circuit plans
- Negative Sentiment: Monday’s wider market selloff, linked to escalating U.S.-Iran tensions, also weighed on large technology stocks and added pressure to AAPL.
Apple Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
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