Latitude Advisors LLC Has $3.56 Million Position in Apple Inc. $AAPL

Key Points

• Latitude Advisors increased its Apple stake by 19.4% in the second quarter, holding 12,297 shares valued at approximately $3.56 million, or 1.4% of its portfolio.
• Institutional investors and hedge funds own 67.73% of Apple, while insiders own just 0.06%; insiders sold 4,433 shares worth about $1.37 million over the past 90 days.
• Apple recently exceeded quarterly earnings and revenue expectations, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $330.53.

Latitude Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,297 shares of the iPhone maker's stock after acquiring an additional 1,996 shares during the period. Apple accounts for about 1.4% of Latitude Advisors LLC's portfolio, making the stock its 15th biggest position. Latitude Advisors LLC's holdings in Apple were worth $3,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Apple during the 4th quarter valued at $52,266,468,000. Nuveen LLC acquired a new stake in shares of Apple during the 1st quarter worth $17,472,482,000. Cardano Risk Management B.V. increased its position in shares of Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC increased its position in shares of Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. raised its stake in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $310.95, for a total value of $447,457.05. Following the completion of the transaction, the senior vice president owned 37,229 shares of the company's stock, valued at $11,576,357.55. This represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 4,433 shares of company stock valued at $1,367,024. Insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $316.85 on Tuesday. Apple Inc. has a one year low of $225.95 and a one year high of $344.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The company has a market cap of $4.62 trillion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.74 and a beta of 1.09. The firm has a 50 day simple moving average of $312.63 and a 200 day simple moving average of $288.83.

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, topping analysts' consensus estimates of $1.89 by $0.13. The firm 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 company's revenue 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. Research analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's payout ratio is currently 12.39%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AAPL shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Friday, July 31st. Raymond James Financial reissued a "market perform" rating on shares of Apple in a report on Friday, July 31st. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a report on Friday, July 31st. BTIG Research began coverage on shares of Apple in a research report on Monday, August 17th. They set a "neutral" rating on the stock. Finally, Maxim Group reissued a "buy" rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $330.53.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s leadership handoff could support innovation: Ternus is a longtime hardware executive and product builder, while Cook will remain with Apple as executive chairman. Investors are also looking ahead to the company’s September 9 product event, which could feature new iPhones and other devices. Apple To Begin New Chapter With CEO John Ternus
• Positive Sentiment: Several reports highlight continuing operating strengths, including strong iPhone share, potential gains as global smartphone shipments weaken, robust recent earnings, and increased fiscal-year EPS estimates. Apple’s planned U.S. manufacturing and AI-server investment could also reduce tariff and supply-chain exposure. Global Phone Shipments Drop, but Apple Positioned for Record iOS Market Share Gain
• Neutral Sentiment: Cook’s departure is being viewed as both a successful succession plan and a major test. His final message endorsed Ternus and emphasized continuity, but investors will judge the new CEO quickly based on the fall product cycle, Siri and Apple’s broader AI strategy. John Ternus to lead Apple into the age of AI
• Negative Sentiment: Apple’s AI strategy remains a key concern because it relies substantially on outside partners while rivals are perceived as farther ahead. At the same time, veteran executive Phil Schiller relinquished oversight of the App Store and product events, adding uncertainty during the CEO change. Apple's top App Store executive departs operational roles
• Negative Sentiment: Rising memory costs reportedly prompted significant Mac and iPad price increases, potentially pressuring demand. Apple also disclosed allegations in a trade-secret lawsuit that an OpenAI employee accessed a circuit schematic, creating legal and competitive-risk headlines. Apple alleges OpenAI employee accessed circuit plans
• Negative Sentiment: Monday’s wider market selloff, linked to escalating U.S.-Iran tensions, also weighed on large technology stocks and added pressure to AAPL.

Apple Company 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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