Friday Financial boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,403 shares of the iPhone maker's stock after buying an additional 2,162 shares during the period. Apple accounts for about 1.7% of Friday Financial's investment portfolio, making the stock its 14th biggest holding. Friday Financial's holdings in Apple were worth $6,338,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Evansbrook LLC grew its stake in Apple by 0.4% in the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock valued at $2,054,000 after purchasing an additional 34 shares during the last quarter. JMG Financial Group Ltd. lifted its position in shares of Apple by 0.7% during the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock valued at $1,295,000 after buying an additional 35 shares during the last quarter. Reyes Financial Architecture Inc. lifted its position in shares of Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after buying an additional 37 shares during the last quarter. Interactive Financial Advisors Inc. boosted its holdings in shares of Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock valued at $286,000 after buying an additional 40 shares in the last quarter. Finally, Sugar Maple Asset Management LLC boosted its holdings in shares of Apple by 2.0% in the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after buying an additional 40 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Insider Buying and Selling
In other news, 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 value of $34,236.24. Following the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $307.49, for a total transaction of $442,478.11. Following the transaction, the senior vice president owned 38,668 shares of the company's stock, valued at $11,890,023.32. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,994 shares of company stock valued at $919,567 over the last three months. 0.06% of the stock is currently owned by insiders.
Apple Stock Performance
Shares of AAPL opened at $310.34 on Tuesday. 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 50-day moving average of $310.91 and a two-hundred day moving average of $287.45. The stock has a market cap of $4.53 trillion, a P/E ratio of 35.59, a P/E/G ratio of 2.65 and a beta of 1.09. Apple Inc. has a one year low of $224.69 and a one year high of $344.57.
Apple (NASDAQ:AAPL - Get Free Report) last announced 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. 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 analyst estimates of $109.04 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The company's revenue was up 16.4% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 8.76 EPS for the current year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is 12.39%.
Wall Street Analyst Weigh In
AAPL has been the subject of several recent analyst reports. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research note on Wednesday, July 15th. Bank of America reiterated a "buy" rating and set a $380.00 price objective on shares of Apple in a report on Thursday, June 18th. Piper Sandler assumed coverage on Apple in a research report on Monday, August 17th. They issued an "overweight" rating for the company. TD Cowen upped their target price on Apple from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $330.53.
Read Our Latest Report on Apple
Apple News Roundup
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple’s restrained infrastructure spending is increasingly viewed as an advantage while other large technology companies spend heavily on AI data centers. Investors appear to be rewarding the prospect of strong AI-related products without comparable capital-investment pressure. Apple Rises as Investors Flee the AI Spending Arms Race
- Positive Sentiment: Recent coverage highlighted Apple’s record quarterly performance, including earnings and revenue above analyst expectations. The results reinforce the company’s financial momentum and provide support for the stock. Q2 Earnings Season Winds Down: 3 Companies That Broke Records
- Positive Sentiment: Reports of a premium foldable iPhone expected in early September, along with a possible iPhone 18 cycle, are boosting expectations for a meaningful product refresh and higher average selling prices. However, memory shortages could also raise the device’s cost and weigh on demand. Apple to launch $2,000-plus foldable iPhone Ultra
- Positive Sentiment: Apple is reportedly developing a China-specific large language model with Alibaba’s support, potentially improving its ability to offer AI services in a strategically important market. Apple’s China AI Strategy
- Neutral Sentiment: Apple is cutting more than 200 positions in Siri, Vision Pro and related teams to redirect resources toward AI, smart glasses and other hardware. The move may improve long-term focus but also underscores weak Vision Pro traction and delays in Apple’s AI execution. Apple Cuts 200 Jobs in Siri and Vision Pro
- Negative Sentiment: Apple’s revised European App Store terms reduce its standard commission from 30% to 26% and set a 5% fee for alternative app-store transactions. While the changes could ease regulatory conflict, they pressure high-margin services revenue and reflect continuing EU scrutiny. Apple Cut Its Standard EU App Store Commission
- Negative Sentiment: Reports that Apple may source memory chips from China’s CXMT highlight ongoing supply constraints and could weaken the position of existing suppliers. For Apple, the move may lower costs, but it also introduces geopolitical, qualification and supply-chain risks. Memory Stocks Slide on Report Apple May Source Chinese Chips
Apple Company Profile
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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.
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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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