Legacy PCG LLC Sells 17,263 Shares of Apple Inc. $AAPL

Key Points

• Legacy PCG LLC cut its Apple position by 88.8% in the first quarter, selling 17,263 shares and retaining 2,174 shares worth approximately $552,000. Institutional investors collectively own 67.73% of Apple.
• Analyst sentiment remains broadly positive but mixed: Apple has a “Moderate Buy” consensus rating and an average price target of $328.60, despite Jefferies downgrading the stock to “Underperform” with a $263.66 target.
• Apple recently beat quarterly earnings and revenue estimates, while investors weigh growth opportunities from AI and potential iPhone upgrades against rising memory costs, supply-chain risks and possible pressure on margins.

Legacy PCG LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 88.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,174 shares of the iPhone maker's stock after selling 17,263 shares during the period. Apple accounts for about 3.0% of Legacy PCG LLC's investment portfolio, making the stock its 8th biggest holding. Legacy PCG LLC's holdings in Apple were worth $552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. acquired a new position in Apple in the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth $65,000. Timmons Wealth Management LLC bought a new position in shares of Apple in the 4th quarter worth about $69,000. Finally, Inspire Investing LLC acquired a new position in shares of Apple in the 4th quarter valued at about $76,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 116 shares of the company's stock in a transaction that occurred on 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 sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AAPL. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $285.56 to $263.66 in a research report on Monday. Wedbush restated an "outperform" rating and issued a $400.00 target price on shares of Apple in a research note on Friday, June 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 31st. BNP Paribas Exane upgraded Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target on the stock in a research report on Friday, April 17th. Finally, Royal Bank Of Canada set a $365.00 price target on Apple in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $328.60.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is testing memory chips from China’s CXMT for some iPhones and MacBooks sold in China. If approved by U.S. authorities, the move could provide an additional supply source and help mitigate shortages caused by surging AI-related demand. Apple tests China's CXMT memory chips
• Positive Sentiment: Some Apple-focused investors, including Deepwater Asset Management’s Gene Munster, argue that the shares remain undervalued and that future iPhone price increases, artificial-intelligence features and a potential upgrade cycle could support longer-term growth. Gene Munster disagrees with Apple downgrade
• Neutral Sentiment: Apple is scheduled to pay a quarterly dividend of $0.27 per share on August 13 to eligible shareholders, providing a modest near-term shareholder return. Apple dividend payment
• Negative Sentiment: Jefferies downgraded Apple from Hold to Underperform and cut its price target to $263.66 from $285.56. Analyst Edison Lee reportedly believes Apple has scrapped a planned all-glass iPhone because of production challenges, removing a potential premium product that could have lifted average selling prices and profitability. Apple could underperform without an all-glass iPhone
• Negative Sentiment: Memory and storage costs are rising sharply amid the AI-driven supply crunch; reports suggest iPhone 18 production costs could increase by roughly 38%. Apple may need to raise prices, risking weaker demand, or absorb the costs, pressuring margins. Apple's iPhone 18 costs could jump 38%
• Negative Sentiment: The CXMT testing also introduces geopolitical and execution risks: U.S. restrictions could limit Apple’s access to the supplier, while CXMT’s capacity and technology may lag established memory manufacturers. These issues add uncertainty to Apple’s supply chain and pricing strategy.

Apple Trading Down 1.6%

Shares of AAPL stock opened at $308.26 on Tuesday. 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 Inc. has a 1 year low of $223.78 and a 1 year high of $344.57. The stock has a fifty day moving average of $309.49 and a two-hundred day moving average of $283.86. The firm has a market capitalization of $4.50 trillion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

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 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 company's revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share. As a group, research analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple's payout ratio is 12.39%.

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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