Manhattan West Asset Management LLC Buys New Shares in Apple Inc. $AAPL

Key Points

• Manhattan West Asset Management purchased 72,224 Apple shares worth approximately $20.9 million during the second quarter, making Apple its sixth-largest holding at 3.5% of the portfolio.
• Apple reported quarterly earnings of $2.02 per share and revenue of $109.42 billion, beating estimates, while revenue rose 16.4% year over year. Institutional investors and hedge funds own 67.73% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating with a $340.14 price target, although ratings range from Strong Buy to Sell. Apple also pays a quarterly dividend of $0.27 per share, producing a 0.3% yield.

Manhattan West Asset Management LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 72,224 shares of the iPhone maker's stock, valued at approximately $20,899,000. Apple comprises 3.5% of Manhattan West Asset Management LLC's holdings, making the stock its 6th largest holding.

Other large investors also recently modified their holdings of the company. Longfellow Investment Management Co. LLC acquired a new position in Apple during the second quarter valued at approximately $30,000. Lifetime Wealth Management P.C. acquired a new position in shares of Apple during the 4th quarter worth approximately $41,000. Basso Capital Management L.P. bought a new stake in shares of Apple during the 4th quarter worth approximately $88,000. Bard Associates Inc. acquired a new stake in shares of Apple in the 4th quarter valued at approximately $109,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Apple in the fourth quarter valued at $187,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL opened at $339.75 on Wednesday. The firm has a market capitalization of $4.96 trillion, a PE ratio of 38.96, a PEG ratio of 2.94 and a beta of 1.08. The company's 50-day moving average is $321.17 and its 200-day moving average is $295.97. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week 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 announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.57 EPS. Equities analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on AAPL shares. Seaport Research Partners lowered shares of Apple from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research report on Wednesday, July 15th. Rothschild & Co Redburn set a $400.00 price objective on shares of Apple and gave the stock a "buy" rating in a research note on Monday, August 17th. KGI Securities cut shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $340.14.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Foldable iPhone momentum: Investor enthusiasm remains high following Apple’s introduction of the approximately $1,999 iPhone Duo, which represents the company’s biggest iPhone design change in years. Early interest and strong iPhone 18 Pro preorder lead times have reinforced expectations for an upgrade cycle and potentially higher revenue. Apple Folds & Meta Muses
• Positive Sentiment: AI-focused Macs: New Mac mini and Mac Studio systems are being marketed as a lower-cost alternative to cloud data-center computing because businesses can run AI models locally without recurring per-token charges. The strategy could support Mac demand and broaden Apple’s role in enterprise AI, even as Nvidia remains dominant in large-scale infrastructure. With new Macs, Apple aims to take on Microsoft, Nvidia in a rush to lower AI costs
• Positive Sentiment: Wearables expansion: Apple is reportedly developing a screenless fitness tracker to compete with Whoop and Oura. A lower-priced, health-focused wearable could expand Apple’s addressable market and generate additional services revenue, although the product may not launch until as early as 2028. Apple Considers Screenless Fitness Tracker to Expand Wearable Lineup Beyond Smartwatches
• Positive Sentiment: Services and international growth: Apple plans to launch Apple Pay in India next month, initially with Axis Bank, while hiring in digital assets could support future payments and tokenization initiatives. These efforts add to the company’s recurring-revenue ecosystem.
• Neutral Sentiment: Valuation and technical backdrop: Apple’s record run and roughly 39-times earnings multiple are attracting profit-taking concerns, but analysts continue to cite earnings beats, strong cash generation, and improving product momentum. The stock is trading near its 52-week high and close to technical breakout levels.
• Negative Sentiment: Legal and geopolitical risks: Apple is opening claims under a $250 million settlement related to alleged misleading Apple Intelligence advertising. Separately, pressure on the new CEO to reconsider Chinese chip sourcing highlights supply-chain and U.S.-China trade risks.

Insider Activity at Apple

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 transaction of $456,177.39. Following the transaction, the senior vice president owned 35,790 shares in the company, valued at approximately $11,345,787.90. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 8,632 shares of company stock valued at $2,719,955 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

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.

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