McCartney Wealth Management LLC Takes Position in Apple Inc. $AAPL

McCartney Wealth Management LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 1,574 shares of the iPhone maker's stock, valued at approximately $456,000. Apple accounts for approximately 0.3% of McCartney Wealth Management LLC's portfolio, making the stock its 14th largest position.

Other institutional investors have also recently bought and sold shares of the company. Baron Silver Stevens Financial Advisors LLC raised its holdings in shares of Apple by 65.6% during the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 66,717 shares of the iPhone maker's stock worth $19,305,000 after acquiring an additional 26,418 shares during the period. Rainier Family Wealth Inc. boosted its stake in Apple by 14.1% in the 1st 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 period. Eaton Cambridge Inc. boosted its stake in Apple by 21.3% in the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker's stock worth $3,545,000 after purchasing an additional 2,450 shares during the period. Torren Management LLC bought a new position in Apple during the 4th quarter worth about $1,178,000. Finally, Summit Wealth Partners LLC increased its holdings in Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock worth $8,880,000 after purchasing an additional 18,188 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Up 1.7%

NASDAQ:AAPL opened at $332.27 on Friday. Apple Inc. has a twelve month low of $229.02 and a twelve month high of $344.57. The firm has a market capitalization of $4.85 trillion, a price-to-earnings ratio of 38.10, a price-to-earnings-growth ratio of 2.88 and a beta of 1.08. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock's 50 day moving average price is $318.20 and its two-hundred day moving average price is $292.45.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm's revenue for the quarter 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 research analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Transactions at Apple

In other news, SVP Jennifer Newstead sold 1,439 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total value of $456,177.39. Following the sale, the senior vice president directly owned 35,790 shares of the company's stock, valued at approximately $11,345,787.90. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, 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 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 three months, insiders sold 7,310 shares of company stock valued at $2,279,378. Insiders own 0.06% of the company's stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple’s $1,999 foldable iPhone, scheduled to arrive October 23, could drive upgrades, deepen ecosystem engagement and add a high-margin premium product category. Some analysts believe foldables could eventually account for 10% to 20% of iPhone revenue. How Wall Street viewed Apple's foldable iPhone
• Positive Sentiment: Analysts see renewed hardware momentum. Alongside the Duo, Apple unveiled the iPhone 18 Pro lineup, new Apple Watch models, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 target, supporting the bullish reaction. TD Cowen reiterates Buy rating
• Positive Sentiment: Carrier promotions could reduce sticker-price resistance. T-Mobile, AT&T and Verizon are offering installment and trade-in incentives for the expensive Duo, potentially broadening access without an immediate industrywide price war. Wireless carrier promotions
• Neutral Sentiment: Wall Street remains divided. Bank of America retained a Buy rating but lowered its price target to $370, while Rosenblatt kept a Neutral rating and $303 target. The debate centers on Duo demand, supply constraints, valuation and the durability of the upgrade cycle.
• Negative Sentiment: Margin pressure remains the main risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Management has already guided to lower gross margins, raising concerns that pricing may not fully offset higher costs. Apple margin pressure from memory costs
• Negative Sentiment: Premium valuation and competition limit upside. Apple trades near the upper end of its historical earnings multiple, while Huawei, Xiaomi and Samsung remain strong competitors in China and the foldable market.
• Negative Sentiment: Insider selling is a modest cautionary signal. SVP Jennifer Newstead sold approximately $456,000 of stock, reducing her direct holdings by about 4%, although she retains a substantial position.

Analyst Ratings Changes

A number of brokerages have recently commented on AAPL. DZ Bank lowered Apple from a "buy" rating to a "hold" rating and set a $310.00 price target on the stock. in a report on Tuesday, August 4th. Citigroup reiterated a "buy" rating on shares of Apple in a report on Thursday. BTIG Research started coverage on Apple in a research report on Monday, August 17th. They issued a "neutral" rating on the stock. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $303.00 price target on shares of Apple in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $334.91.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.