Peninsula Asset Management Inc. Has $13.35 Million Position in Apple Inc. $AAPL

Key Points

• Peninsula Asset Management increased its Apple stake by 14.7% in the first quarter, adding 6,755 shares to reach 52,606 shares valued at approximately $13.35 million. Apple represents about 6.8% of the firm’s portfolio, while institutional investors collectively own 67.73% of the stock.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, exceeding analyst expectations, with revenue up 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share, equivalent to a 0.3% annualized yield.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $327.40, but investors face risks from a below-consensus revenue outlook, memory and component cost pressures, weaker services and China performance, and leadership uncertainty as Tim Cook prepares to step down as CEO.

Peninsula Asset Management Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,606 shares of the iPhone maker's stock after buying an additional 6,755 shares during the period. Apple accounts for approximately 6.8% of Peninsula Asset Management Inc.'s holdings, making the stock its 2nd biggest holding. Peninsula Asset Management Inc.'s holdings in Apple were worth $13,351,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Rainier Family Wealth Inc. grew its position in shares of Apple by 14.1% during the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock valued at $6,189,000 after acquiring an additional 3,014 shares during the period. Torren Management LLC purchased a new position in Apple in the fourth quarter valued at approximately $1,178,000. Summit Wealth Partners LLC lifted its stake in Apple by 108.3% in the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock valued at $8,880,000 after purchasing an additional 18,188 shares during the last quarter. Adventist Health System Sunbelt Healthcare Corp bought a new position in Apple during the fourth quarter valued at $105,482,000. Finally, KBC Group NV increased its position in Apple by 3.1% in the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock worth $1,915,172,000 after buying an additional 214,215 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Stock Down 1.4%

AAPL stock opened at $333.43 on Friday. The stock has a 50-day simple moving average of $309.51 and a two-hundred day simple moving average of $281.25. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $344.57. The firm has a market capitalization of $4.90 trillion, a PE ratio of 40.32, a PEG ratio of 2.92 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The company's revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple's dividend payout ratio is 13.06%.

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 116 shares of the firm's stock in a transaction 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 transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAPL. HSBC upgraded Apple from a "hold" rating to a "buy" rating and increased their price target for the stock from $260.00 to $366.00 in a research note on Thursday, July 16th. Morgan Stanley set a $364.00 target price on shares of Apple and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Barclays restated an "underweight" rating on shares of Apple in a research note on Tuesday, June 9th. Monness Crespi & Hardt raised their price objective on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Citigroup reiterated a "buy" rating and issued a $365.00 price objective (up from $315.00) on shares of Apple in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $327.40.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of approximately $109.4 billion, up 16% year over year, while diluted EPS of $2.02 rose 29% and exceeded Wall Street expectations. Strong iPhone and Mac sales drove the results. Apple reports third quarter results
• Positive Sentiment: The company said its active installed base reached an all-time high, and iPhone, Mac and Services each posted June-quarter revenue records. Apple also declared a quarterly dividend of $0.27 per share. Apple Q3 revenue rises
• Neutral Sentiment: Apple indicated that a revamped Siri could eventually become a paid service for heavy users, offering a potential long-term monetization opportunity as the company expands its consumer-AI strategy. Tim Cook says Apple may charge for AI Siri
• Neutral Sentiment: Thursday marked Tim Cook’s final earnings call as CEO before he steps down in September, adding leadership-transition uncertainty despite incoming CEO John Ternus’s expected continuity.
• Negative Sentiment: Apple’s fiscal fourth-quarter revenue outlook of $111.7 billion to $113.7 billion was below the roughly $114.3 billion consensus estimate. The cautious forecast is a key reason the stock has decreased despite the quarterly beat.
• Negative Sentiment: The generative-AI hardware boom is driving severe memory and component shortages. Apple is stockpiling inventory, but CEO Tim Cook warned that the impact of higher memory prices will worsen, pressuring product margins and potentially requiring further price increases. The quarter’s 50.1% gross margin benefited by about two percentage points from tariff refunds, a benefit that may not recur. Apple stockpiles inventory
• Negative Sentiment: Services revenue missed expectations, with Apple citing a slowdown in gaming and the effects of App Store changes. Weaker-than-expected China performance also raised concerns about regional demand and competition.
• Negative Sentiment: With Apple valued near $5 trillion and trading at roughly 40 times earnings, investors had set very high expectations. That premium leaves less room for disappointment in growth, margins or guidance. Apple forecasts slower growth

Apple 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.

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.