PCM Encore LLC Makes New $25.31 Million Investment in Apple Inc. $AAPL

Key Points

• PCM Encore LLC purchased 87,454 Apple shares worth approximately $25.31 million during the second quarter, making Apple its third-largest holding and representing about 4.4% of its portfolio.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, beating analyst estimates, while quarterly revenue increased 16.4% year over year. Institutional investors collectively own 67.73% of the stock.
• Analyst sentiment remains positive, with Apple holding a “Moderate Buy” consensus rating and an average price target of $340.14, though premium pricing, mixed initial iPhone demand indicators and regulatory pressures remain risks.

PCM Encore LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 87,454 shares of the iPhone maker's stock, valued at approximately $25,306,000. Apple accounts for about 4.4% of PCM Encore LLC's investment portfolio, making the stock its 3rd largest position.

A number of other hedge funds also recently made changes to their positions in the stock. 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. bought a new position in Apple during the 4th quarter valued at $41,000. Ascentis Wealth Management LLC lifted its position in shares of Apple by 822.7% during the second quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock worth $85,000 after purchasing an additional 260,792 shares during the last quarter. Basso Capital Management L.P. acquired a new position in Apple in the fourth quarter worth about $88,000. Finally, Bard Associates Inc. bought a new stake in Apple in the fourth quarter valued at about $109,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Evercore ISI raised its Apple price target to $380 from $365 and maintained an outperform view. A survey of roughly 4,000 consumers indicated a potentially stronger-than-expected iPhone upgrade cycle and a higher average selling price. iPhone 18 Pro Hits Stores Today
• Positive Sentiment: iPhone 18 Pro sales are supported by carrier trade-in promotions. Bank of America said incentives can offset the $100 price increase, reducing the risk that higher prices will weaken demand. Apple’s iPhone 18 Lineup Keeps Bank of America Bullish
• Positive Sentiment: Apple’s ecosystem is gaining additional reach. General Motors plans to restore Apple CarPlay after consumer backlash, while Apple is reportedly preparing an Apple Pay launch in India with Axis Bank. These developments could support services engagement and ecosystem adoption. GM Is Re-downloading Apple CarPlay
• Neutral Sentiment: Initial iPhone 18 Pro demand indicators are mixed. Quick-commerce shortages in India suggest strong localized demand, but UBS cited muted wait times in several major markets. Investors are also assessing whether customers may delay purchases for Apple’s roughly $1,999 foldable iPhone Duo. Apple iPhone 18 Seeing Muted Initial Wait Times
• Negative Sentiment: Risks include premium pricing, valuation and regulatory pressure. Analysts warn that expensive devices could limit adoption in price-sensitive markets such as India. More than 1,600 Italian Apple store employees also struck on launch day, while Apple continues to challenge a potential UK encryption backdoor order and faces European legal scrutiny. Italian Apple Store Employees Strike

Apple Price Performance

Shares of Apple stock opened at $336.13 on Monday. Apple Inc. has a 12-month low of $240.21 and a 12-month high of $344.57. The firm has a market capitalization of $4.91 trillion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.92 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 fifty day moving average is $320.24 and its 200-day moving average is $294.90.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results 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 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%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. Equities analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

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

Insider Activity

In other news, SVP Jennifer Newstead sold 1,438 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $330.19, for a total transaction of $474,813.22. Following the completion of the sale, the senior vice president owned 32,914 shares in the company, valued at approximately $10,867,873.66. This represents a 4.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 8,632 shares of company stock worth $2,719,955. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of research analyst reports. Piper Sandler started coverage on Apple in a report on Monday, August 17th. They set an "overweight" rating on the stock. CICC Research raised their price target on shares of Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. KGI Securities downgraded shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target for the company. in a report on Monday, June 22nd. Bank of America reiterated a "buy" rating and issued a $370.00 price objective on shares of Apple in a research report on Thursday. Finally, Wedbush restated an "outperform" rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One research 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $340.14.

Apple 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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