Family Legacy Inc. Purchases New Position in Apple Inc. $AAPL

Family Legacy Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,693 shares of the iPhone maker's stock, valued at approximately $10,907,000. Apple comprises about 2.9% of Family Legacy Inc.'s investment portfolio, making the stock its 4th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC increased its position in shares of 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 in the last quarter. Timmons Wealth Management LLC purchased a new stake in shares of Apple in the 4th quarter valued at about $69,000. LSV Asset Management purchased a new stake in shares of Apple in the 4th quarter valued at about $65,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple’s $1,999 foldable iPhone, scheduled to arrive October 23, could drive upgrades, deepen ecosystem engagement and add a high-margin premium product category. Some analysts believe foldables could eventually account for 10% to 20% of iPhone revenue. How Wall Street viewed Apple's foldable iPhone
• Positive Sentiment: Analysts see renewed hardware momentum. Alongside the Duo, Apple unveiled the iPhone 18 Pro lineup, new Apple Watch models, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 target, supporting the bullish reaction. TD Cowen reiterates Buy rating
• Positive Sentiment: Carrier promotions could reduce sticker-price resistance. T-Mobile, AT&T and Verizon are offering installment and trade-in incentives for the expensive Duo, potentially broadening access without an immediate industrywide price war. Wireless carrier promotions
• Neutral Sentiment: Wall Street remains divided. Bank of America retained a Buy rating but lowered its price target to $370, while Rosenblatt kept a Neutral rating and $303 target. The debate centers on Duo demand, supply constraints, valuation and the durability of the upgrade cycle.
• Negative Sentiment: Margin pressure remains the main risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Management has already guided to lower gross margins, raising concerns that pricing may not fully offset higher costs. Apple margin pressure from memory costs
• Negative Sentiment: Premium valuation and competition limit upside. Apple trades near the upper end of its historical earnings multiple, while Huawei, Xiaomi and Samsung remain strong competitors in China and the foldable market.
• Negative Sentiment: Insider selling is a modest cautionary signal. SVP Jennifer Newstead sold approximately $456,000 of stock, reducing her direct holdings by about 4%, although she retains a substantial position.

Insider Activity at Apple

In other Apple news, insider Ben Borders sold 116 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,438 shares of the business's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $317.23, for a total value of $456,176.74. Following the completion of the transaction, the senior vice president directly owned 34,352 shares of the company's stock, valued at approximately $10,897,484.96. This trade represents a 4.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,310 shares of company stock worth $2,279,378 over the last quarter. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. BTIG Research started coverage on Apple in a research note on Monday, August 17th. They set a "neutral" rating on the stock. Jefferies Financial Group reiterated an "underperform" rating on shares of Apple in a research note on Wednesday. Rosenblatt Securities reissued a "neutral" rating and issued a $303.00 price objective on shares of Apple in a report on Thursday. China Renaissance lowered shares of Apple from a "buy" rating to a "hold" rating and set a $280.00 target price on the stock. in a research report on Tuesday, August 4th. Finally, Piper Sandler assumed coverage on shares of Apple in a report on Monday, August 17th. They issued an "overweight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $334.91.

Apple Stock Performance

Shares of AAPL stock opened at $332.27 on Friday. The stock has a fifty day moving average price of $318.20 and a 200 day moving average price of $292.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a market cap of $4.85 trillion, a PE ratio of 38.10, a P/E/G ratio of 2.88 and a beta of 1.08. Apple Inc. has a 1 year low of $229.02 and a 1 year high of $344.57.

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 for the quarter, beating 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 during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter last year, the business posted $1.57 earnings per share. The business's revenue for the quarter was up 16.4% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 8.74 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. Stockholders of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's dividend payout ratio is currently 12.39%.

About Apple

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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