Great Lakes Retirement Inc. Purchases 1,890 Shares of Apple Inc. $AAPL

Key Points

• Great Lakes Retirement increased its Apple stake by 1.9% in the second quarter, adding 1,890 shares for a total of 102,454 shares valued at approximately $29.6 million. Apple represents 2.6% of the fund’s portfolio, while institutional investors own 67.73% of the company.
• Analyst sentiment remains broadly positive, with Apple holding a “Moderate Buy” consensus rating and an average price target of $330.61, despite several recent downgrades to neutral or sell ratings.
• Apple’s outlook is supported by strong quarterly results and anticipation surrounding new products, including a potential foldable iPhone, but supply constraints, rising memory costs, leadership-transition questions and legal challenges pose risks.

Great Lakes Retirement Inc. increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,454 shares of the iPhone maker's stock after acquiring an additional 1,890 shares during the quarter. Apple comprises approximately 2.6% of Great Lakes Retirement Inc.'s investment portfolio, making the stock its 8th biggest holding. Great Lakes Retirement Inc.'s holdings in Apple were worth $29,646,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. bought a new stake in Apple during the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management acquired a new position in shares of Apple in the fourth quarter valued at approximately $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple during the fourth quarter worth $69,000. Finally, 49 Wealth Management LLC raised its holdings in shares of Apple by 15.7% during the third quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock worth $76,000 after acquiring an additional 40,543 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total transaction of $456,177.39. Following the completion of the sale, the senior vice president directly owned 35,790 shares in the company, valued at approximately $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,872 shares of company stock valued at $1,823,201 over the last three months. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AAPL shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $360.00 target price on shares of Apple in a research note on Wednesday, September 2nd. Seaport Research Partners lowered Apple from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. Phillip Securities cut Apple from a "hold" rating to a "moderate sell" rating in a research report on Monday, August 3rd. DA Davidson reissued a "neutral" rating and issued a $270.00 target price on shares of Apple in a research report on Wednesday, September 2nd. Finally, China Renaissance cut Apple from a "buy" rating to a "hold" rating and set a $280.00 target price on the stock. in a research note on Tuesday, August 4th. One investment 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 company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $330.61.

Key Headlines Impacting Apple

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

Apple Price Performance

NASDAQ:AAPL opened at $319.97 on Monday. Apple Inc. has a 52-week low of $225.95 and a 52-week high of $344.57. The company has a market cap of $4.67 trillion, a P/E ratio of 36.69, a P/E/G ratio of 2.77 and a beta of 1.08. 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's 50-day simple moving average is $315.65 and its 200 day simple moving average is $290.59.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.57 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio is presently 12.39%.

Apple 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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