Redwood Investment Management LLC Buys New Shares in Apple Inc. $AAPL

Key Points

• Redwood Investment Management acquired 55,173 Apple shares worth approximately $16 million, making Apple 1.6% of its portfolio and its 12th-largest holding. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Analysts maintain a generally positive outlook, with Apple receiving a “Moderate Buy” consensus rating and an average price target of $340.14. Recent targets range from $280 to $400.
• Apple reported quarterly earnings and revenue above expectations, with revenue up 16.4% year over year, while shares opened at $338.40. The company also faces potential legal risks, including a roughly $5.7 billion patent-infringement award that it plans to appeal.

Redwood Investment Management LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 55,173 shares of the iPhone maker's stock, valued at approximately $15,965,000. Apple accounts for 1.6% of Redwood Investment Management LLC's investment portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Berkshire Hathaway Inc acquired a new stake in shares of Apple during the 2nd quarter worth $65,950,297,000. Bank of America Corp DE purchased a new stake in shares of Apple during the 2nd quarter valued at about $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple during the second quarter valued at approximately $30,443,242,000. Nuveen LLC lifted its holdings in Apple by 3.8% in the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock worth $20,389,750,000 after buying an additional 2,725,121 shares in the last quarter. Finally, Amundi lifted its stake in shares of Apple by 23.2% in the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after acquiring an additional 13,780,080 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on AAPL shares. Wedbush reiterated an "outperform" rating and set a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. Daiwa Securities Group upped their price objective on Apple from $325.00 to $335.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Thursday, September 17th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, September 8th. Finally, China Renaissance downgraded Apple from a "buy" rating to a "hold" rating and cut their target price for the stock from $329.00 to $280.00 in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $340.14.

Insider Buying and Selling

In other news, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the completion of the sale, the senior vice president directly owned 44,391 shares of the company's stock, valued at $15,095,603.46. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 11,031 shares of company stock valued at $3,535,759 in the last quarter. Insiders own 0.06% of the company's stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s renewed patent agreement with Qualcomm helps preserve access to important cellular technology and reduces uncertainty surrounding future iPhone launches. The deal also supports Qualcomm’s royalty stream tied to Apple devices. What Is Going on With Qualcomm Stock on Monday?
• Positive Sentiment: Reports that Apple is increasing orders for TSMC’s next-generation 2-nanometer chips point to continued investment in more powerful and efficient processors for future iPhones and other products. TSMC Ramps Up 2nm Chip Capacity as Apple, Nvidia Orders Jump
• Neutral Sentiment: Apple’s foldable iPhone Duo and premium-device strategy could lift revenue and expand its addressable market, but the roughly $2,000 price raises questions about demand beyond affluent early adopters. Apple’s Premium iPhone Strategy Faces a Test Beyond Early Adopters
• Neutral Sentiment: X Corp. and SpaceXAI reportedly moved to dismiss antitrust claims against Apple and OpenAI, removing one legal challenge, although other regulatory matters remain unresolved. Musk’s X Corp and SpaceXAI Drop Apple From AI Antitrust Fight
• Negative Sentiment: A U.S. jury ordered Apple to pay approximately $5.7 billion to Taction Technology for infringing patents covering haptic feedback used in products such as the iPhone and Apple Watch. Apple denies wrongdoing and plans to appeal, but the potential liability is the largest U.S. patent award of its kind. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales
• Negative Sentiment: Britain’s Competition Appeal Tribunal revived part of a consumer case alleging that Apple and Amazon restricted competition for Apple products sold through Amazon’s U.K. marketplace. Apple also faces an expanded Indian investigation into alleged costly repairs following an iOS 18 software update, increasing potential legal and reputational risk. Apple and Amazon Face Revived UK Consumer Lawsuit Over Product Sales

Apple Stock Down 0.8%

Shares of NASDAQ:AAPL opened at $338.40 on Tuesday. The company has a market cap of $4.94 trillion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The firm has a 50 day simple moving average of $321.79 and a 200 day simple moving average of $298.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last posted 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. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. Apple's quarterly revenue was up 16.4% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. 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 dividend payout ratio (DPR) is 12.39%.

Apple Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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