Jacobs Equity LLC Makes New $1.04 Million Investment in Apple Inc. $AAPL

Key Points

• Jacobs Equity LLC acquired 3,599 Apple shares worth approximately $1.04 million in the second quarter, while several other institutional investors also initiated positions. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share, representing a 0.3% yield.
• Analysts maintain a generally positive outlook, with Apple receiving a “Moderate Buy” consensus rating and an average price target of $340.14. However, insiders have sold more than 11,000 shares over the past 90 days, and the company faces ongoing legal and regulatory risks.

Jacobs Equity LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,599 shares of the iPhone maker's stock, valued at approximately $1,041,000. Apple comprises 0.7% of Jacobs Equity LLC's holdings, making the stock its 16th largest position.

Other hedge funds also recently modified their holdings of the company. Redwood Investment Management LLC acquired a new position in Apple during the second quarter valued at approximately $15,965,000. Parvin Asset Management LLC acquired a new position in shares of Apple during the 2nd quarter worth approximately $7,039,000. Proficio Capital Partners LLC acquired a new position in shares of Apple during the 2nd quarter worth approximately $36,969,000. Stonebridge Capital Management Inc. bought a new stake in shares of Apple during the 2nd quarter worth approximately $16,984,000. Finally, Pure Financial Advisors LLC bought a new stake in shares of Apple during the 2nd quarter worth approximately $90,302,000. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

NASDAQ:AAPL opened at $338.40 on Tuesday. The company has a market cap of $4.94 trillion, a P/E ratio of 38.81, a P/E/G ratio of 2.96 and a beta of 1.08. The firm's fifty day moving average price is $321.79 and its two-hundred day moving average price is $298.18. Apple Inc. has a one year low of $243.42 and a one year high of $345.34. 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 issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the business posted $1.57 earnings per share. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AAPL shares. BTIG Research started coverage on shares of Apple in a research note on Monday, August 17th. They issued a "neutral" rating for the company. Wedbush reaffirmed an "outperform" rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Evercore set a $380.00 price target on shares of Apple and gave the company an "outperform" rating in a research note on Friday, September 18th. Phillip Securities lifted their price objective on shares of Apple from $290.00 to $300.00 and gave the company a "neutral" rating in a research report on Monday, September 14th. Finally, Bank of America restated a "buy" rating and set a $370.00 price objective on shares of Apple in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $340.14.

Insiders Place Their Bets

In related news, SVP Jennifer Newstead sold 2,399 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the completion of the sale, the senior vice president directly owned 44,391 shares in the company, valued at $15,095,603.46. The trade was a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 11,031 shares of company stock worth $3,535,759. Company insiders own 0.06% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday?
• Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump
• Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters
• Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight
• Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales
• Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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