Kirkwood Financial Services Acquires 7,988 Shares of Apple Inc. $AAPL

Key Points

• Kirkwood Financial Services acquired 7,988 Apple shares worth approximately $2.31 million in the second quarter, making Apple 0.7% of its portfolio and its 15th-largest holding.
• Institutional investors and hedge funds own 67.73% of Apple, with Berkshire Hathaway, Bank of America, Legal & General, Deutsche Bank and Mitsubishi UFJ among major buyers during the quarter.
• Apple reported quarterly revenue of $109.42 billion and EPS of $2.02, beating estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $340.02. Insiders sold shares mainly to cover tax obligations, and the company pays a $0.27 quarterly dividend.

Kirkwood Financial Services acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,988 shares of the iPhone maker's stock, valued at approximately $2,311,000. Apple comprises 0.7% of Kirkwood Financial Services' investment portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Berkshire Hathaway Inc purchased a new stake in shares of Apple in the 2nd quarter valued at $65,950,297,000. Bank of America Corp DE purchased a new position in shares of Apple during the second quarter worth $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple during the second quarter worth $30,443,242,000. Deutsche Bank AG acquired a new position in Apple during the second quarter valued at $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Apple during the 2nd quarter worth about $10,588,946,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, insider Timothy D. Cook sold 191,753 shares of the business's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the transaction, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Ternus sold 25,412 shares of the company's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the sale, the chief executive officer directly owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 279,383 shares of company stock valued at $92,912,517 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Stock Down 1.1%

Shares of NASDAQ AAPL opened at $336.64 on Friday. The firm has a market cap of $4.91 trillion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07. The company's 50-day simple moving average is $322.61 and its 200-day simple moving average is $302.99. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last posted 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 return on equity of 135.46% and a net margin of 27.62%. The company had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the previous year, the firm posted $1.57 EPS. Apple's revenue was up 16.4% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were paid a $0.27 dividend. 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 is currently 12.39%.

Analyst Ratings Changes

Several research firms recently commented on AAPL. TD Cowen reaffirmed a "buy" rating and set a $400.00 target price on shares of Apple in a report on Thursday, September 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Thursday, October 1st. Moffett Nathanson reaffirmed a "neutral" rating and set a $304.00 target price (up from $270.00) on shares of Apple in a report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft cut shares of Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Finally, BTIG Research began coverage on shares of Apple in a report on Monday, August 17th. They set a "neutral" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $340.02.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Apple 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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