Keenan LLC Takes $1.60 Million Position in Apple Inc. $AAPL

Key Points

• Keenan LLC acquired 5,542 Apple shares worth approximately $1.60 million in the second quarter, making Apple its seventh-largest holding and representing about 1.1% of its portfolio.
• Other institutions also increased exposure to Apple, including Prospect Hill Management and Focus Partners, while institutional investors collectively own 67.73% of the stock.
• Apple reported quarterly earnings of $2.02 per share on $109.42 billion in revenue, exceeding analyst expectations, and maintains a consensus “Moderate Buy” rating with an average price target of $338.80.

Keenan LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,542 shares of the iPhone maker's stock, valued at approximately $1,604,000. Apple accounts for about 1.1% of Keenan LLC's holdings, making the stock its 7th largest holding.

Several other large investors have also modified their holdings of AAPL. Prospect Hill Management LLC acquired a new stake in Apple in the 2nd quarter valued at approximately $146,370,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Apple during the second quarter worth approximately $168,646,000. Baron Silver Stevens Financial Advisors LLC boosted its position in shares of Apple by 65.6% in the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 66,717 shares of the iPhone maker's stock valued at $19,305,000 after acquiring an additional 26,418 shares during the period. Rainier Family Wealth Inc. grew its stake in shares of Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock worth $6,189,000 after acquiring an additional 3,014 shares during the last quarter. Finally, Eaton Cambridge Inc. grew its stake in shares of Apple by 21.3% in the first quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker's stock worth $3,545,000 after acquiring an additional 2,450 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $337.00 on Friday. The company has a 50-day moving average of $319.82 and a 200-day moving average of $294.40. The company has a market capitalization of $4.92 trillion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.89 and a beta of 1.08. Apple Inc. has a 52 week low of $236.65 and a 52 week high of $344.57. 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 posted its 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. The business 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 for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share 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 paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is currently 12.39%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reiterated its Buy rating and set a $370 price target, citing carrier incentives of up to $1,200, a potentially strong iPhone upgrade cycle, capital returns and opportunities for edge AI. Apple’s iPhone Upgrade Cycle Looks Strong As Carrier Incentives Hit $1,200
• Positive Sentiment: Carrier promotions are helping offset higher iPhone 18 Pro prices, supporting expectations for sales despite concerns that consumers could be waiting for Apple’s foldable iPhone Duo. Apple also reportedly gained smartphone market share, even as overall industry shipments declined. Apple iPhone 18 Pro Sales Helped By Carrier Promotions
• Positive Sentiment: Reports that Apple is developing AI servers powered by M8 Ultra chips provided a longer-term growth narrative. The planned infrastructure, potentially using NVIDIA networking technology, could reduce cloud costs, protect Services margins and create an enterprise-server opportunity around 2029. Apple Is Quietly Building an AI Advantage Few Expected
• Positive Sentiment: Apple remains a core Berkshire Hathaway holding, representing more than half of Warren Buffett’s portfolio along with American Express and Alphabet. This reinforces the perception of Apple as a high-quality, cash-generating long-term investment. Warren Buffett Has More Than 50% of His Portfolio in These 3 Stocks
• Neutral Sentiment: Early iPhone 18 Pro preorder signals are mixed. Some analysts see shorter wait times as a sign of softer demand, while others believe carrier discounts and customers delaying purchases for the foldable model explain the pattern. Bank of America flags surprising iPhone 18 pre-order trend
• Negative Sentiment: Apple’s premium valuation leaves limited room for disappointment, while a $2.7 billion UK lawsuit over app-tracking rules and continuing European scrutiny add regulatory risk. An executive’s stock sale was disclosed, although it was conducted to cover tax withholding on vested equity and is not necessarily a bearish signal. Apple Faces a $2.7 Billion UK Lawsuit

Insider Activity

In other news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total value of $456,177.39. Following the completion of the transaction, the senior vice president directly owned 35,790 shares of the company's stock, valued at approximately $11,345,787.90. This represents a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 8,632 shares of company stock valued at $2,719,955. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AAPL shares. The Goldman Sachs Group began coverage on shares of Apple in a report on Monday, August 17th. They issued a "buy" rating for the company. Wedbush reiterated an "outperform" rating and issued a $400.00 target price on shares of Apple in a research note on Friday, June 5th. DZ Bank downgraded Apple from a "buy" rating to a "hold" rating and set a $310.00 target price on the stock. in a research report on Tuesday, August 4th. Evercore restated an "outperform" rating on shares of Apple in a research note on Monday. Finally, Seaport Research Partners cut Apple from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $338.80.

Apple Company Profile

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

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.