Marks Group Wealth Management Inc Has $30.12 Million Holdings in Apple Inc. $AAPL

Key Points

• Marks Group Wealth Management reduced its Apple stake by 6.2% in the second quarter, selling 6,890 shares and retaining 104,089 shares worth approximately $30.12 million. Apple remains the firm’s fourth-largest holding, representing 2.6% of its portfolio.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27, equivalent to a 0.3% annualized yield.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $330.53, although some firms recently downgraded the stock to neutral or sell ratings.

Marks Group Wealth Management Inc lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 104,089 shares of the iPhone maker's stock after selling 6,890 shares during the period. Apple accounts for approximately 2.6% of Marks Group Wealth Management Inc's holdings, making the stock its 4th biggest position. Marks Group Wealth Management Inc's holdings in Apple were worth $30,119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Rainier Family Wealth Inc. increased its holdings 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 purchasing an additional 3,014 shares during the last quarter. Eaton Cambridge Inc. grew its holdings in Apple by 21.3% during the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker's stock valued at $3,545,000 after buying an additional 2,450 shares in the last quarter. Torren Management LLC purchased a new position in Apple during the 4th quarter valued at approximately $1,178,000. Summit Wealth Partners LLC increased its stake in Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock worth $8,880,000 after acquiring an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in Apple in the 4th quarter worth approximately $105,482,000. 67.73% of the stock is owned by institutional investors.

Insider Activity

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total value of $447,457.05. Following the completion of the sale, the senior vice president owned 37,229 shares of the company's stock, valued at $11,576,357.55. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ben Borders sold 116 shares of the business'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 transaction, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 4,433 shares of company stock valued at $1,367,024 in the last 90 days. Company insiders own 0.06% of the company's stock.

Apple Price Performance

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

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.Apple's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.57 EPS. Equities analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a report on Monday, June 8th. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Apple from $345.00 to $340.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. 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. Finally, Seaport Research Partners downgraded shares of Apple from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $330.53.

Trending Headlines about Apple

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.

About Apple

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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