Evolution Wealth Advisors LLC Sells 907,458 Shares of Apple Inc. $AAPL

Evolution Wealth Advisors LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 96.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,952 shares of the iPhone maker's stock after selling 907,458 shares during the period. Apple accounts for 1.1% of Evolution Wealth Advisors LLC's investment portfolio, making the stock its 15th largest position. Evolution Wealth Advisors LLC's holdings in Apple were worth $9,535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Lifetime Wealth Management P.C. bought a new stake in shares of Apple in the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management bought a new position in shares of Apple in the fourth quarter worth $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple in the fourth quarter valued at $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the 4th quarter valued at $76,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer restated a "market perform" rating on shares of Apple in a research note on Friday, July 31st. Raymond James Financial reaffirmed a "market perform" rating on shares of Apple in a report on Friday, July 31st. Maxim Group reissued a "buy" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. JPMorgan Chase & Co. lowered their price objective on Apple from $345.00 to $340.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Finally, Rothschild & Co Redburn set a $400.00 price objective on Apple and gave the company a "buy" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $330.61.

Apple Price Performance

Shares of Apple stock opened at $319.97 on Friday. Apple Inc. has a 52-week low of $225.95 and a 52-week high of $344.57. The stock has a market capitalization of $4.67 trillion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 2.77 and a beta of 1.08. The company has a fifty day moving average of $315.65 and a 200-day moving average of $290.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL - Get Free Report) last issued its 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. The company had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm's revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 EPS. Equities research analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is 12.39%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Sept. 9 product event is generating significant interest under new CEO John Ternus, with expectations for new iPhones, an Apple Watch update and potentially the company’s first foldable iPhone. Citi estimates the foldable device could sell 7.3 million units despite a possible price above $2,000. Citi foldable iPhone sales forecast
• Positive Sentiment: Apple’s latest quarter showed strong momentum, with revenue rising 16.4% year over year and earnings exceeding analyst expectations. Morgan Stanley has also suggested the foldable iPhone could contribute roughly $14 billion in December-quarter revenue if successfully launched. Morgan Stanley foldable iPhone estimate
• Neutral Sentiment: John Ternus has succeeded Tim Cook as CEO, while Cook remains executive chairman. The transition offers continuity through a longtime Apple executive but raises questions about whether Ternus can accelerate Apple’s artificial-intelligence strategy and sustain Cook-era growth. John Ternus becomes Apple CEO
• Negative Sentiment: Reports indicate initial foldable iPhone production was only a few hundred units per day in late August. Tight quality controls and memory shortages could limit launch supply, delay purchases and prevent Apple from fully capturing expected demand. Foldable iPhone production hurdles
• Negative Sentiment: Memory costs have reportedly surged, potentially forcing Apple to raise iPhone prices, absorb lower margins or risk weaker demand. Jefferies has also downgraded AAPL amid skepticism about the foldable product’s market potential. iPhone memory cost concerns
• Negative Sentiment: Apple faces a $2.7 billion UK lawsuit over alleged unfair app-tracking rules and a separate BASF patent lawsuit involving facial-authentication technology, adding regulatory and litigation risk. Apple UK app-tracking lawsuit

Insider Activity

In related news, SVP Jennifer Newstead sold 1,439 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares in the company, valued at $11,345,787.90. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred 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 transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% 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 5,872 shares of company stock worth $1,823,201. Company insiders own 0.06% of the company's stock.

Apple Company 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.

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