Pennington Partners & CO. LLC Buys 16,379 Shares of Apple Inc. $AAPL

Key Points

• Pennington Partners & CO. LLC increased its Apple stake by 351.2% in the first quarter, purchasing 16,379 additional shares for a total of 21,043 shares valued at approximately $5.34 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share, topping 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 per share.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $330.44, although ratings range from Strong Buy to Sell amid concerns about costs, slower Services growth and rising competition.

Pennington Partners & CO. LLC grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 351.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,043 shares of the iPhone maker's stock after purchasing an additional 16,379 shares during the period. Apple makes up about 1.8% of Pennington Partners & CO. LLC's holdings, making the stock its 7th largest holding. Pennington Partners & CO. LLC's holdings in Apple were worth $5,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GC Wealth Management RIA LLC lifted its position in Apple by 2.2% during the first quarter. GC Wealth Management RIA LLC now owns 355,283 shares of the iPhone maker's stock worth $90,167,000 after buying an additional 7,529 shares in the last quarter. Modern Wealth Management LLC grew its holdings in Apple by 4.5% in the 1st quarter. Modern Wealth Management LLC now owns 517,048 shares of the iPhone maker's stock valued at $132,173,000 after buying an additional 22,053 shares in the last quarter. Keebeck Wealth Management increased its stake in shares of Apple by 9.6% in the 1st quarter. Keebeck Wealth Management now owns 84,275 shares of the iPhone maker's stock worth $21,388,000 after acquiring an additional 7,391 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Apple by 12.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 19,443,190 shares of the iPhone maker's stock worth $4,934,487,000 after acquiring an additional 2,083,564 shares during the last quarter. Finally, Caxton Associates LLP raised its holdings in shares of Apple by 123.0% during the 1st quarter. Caxton Associates LLP now owns 517,598 shares of the iPhone maker's stock worth $131,361,000 after acquiring an additional 285,529 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AAPL shares. KGI Securities cut shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a research report on Monday, June 22nd. Bank of America restated a "buy" rating and set a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. KeyCorp reaffirmed an "underweight" rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, July 28th. TD Cowen boosted their target price on shares of Apple from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, HSBC raised shares of Apple from a "hold" rating to a "buy" rating and increased their price target for the company from $260.00 to $366.00 in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $330.44.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $313.33 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $4.57 trillion, a PE ratio of 35.93, a PEG ratio of 2.68 and a beta of 1.09. Apple Inc. has a twelve month low of $219.25 and a twelve month high of $344.57. The stock has a fifty day simple moving average of $309.45 and a 200-day simple moving average of $283.42.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter in the previous year, the business posted $1.57 earnings per share. The business's quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be paid a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's payout ratio is 12.39%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

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.

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