Reynders McVeigh Capital Management LLC Purchases 135,884 Shares of Apple Inc. $AAPL

Key Points

• Reynders McVeigh Capital Management increased its Apple position by 29.2% in the second quarter, purchasing 135,884 shares and bringing its total to 600,912 shares valued at approximately $177.3 million.
• Institutional investors and hedge funds own 67.73% of Apple, while insiders have sold 279,383 shares worth about $92.9 million over the past 90 days, primarily to cover tax obligations from vested equity awards.
• Apple has a “Moderate Buy” consensus rating with an average price target of $340.39; the stock recently traded at $340.97 after quarterly revenue rose 16.4% year over year and earnings exceeded analyst expectations.

Reynders McVeigh Capital Management LLC increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 29.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 600,912 shares of the iPhone maker's stock after purchasing an additional 135,884 shares during the quarter. Apple makes up 7.2% of Reynders McVeigh Capital Management LLC's portfolio, making the stock its 2nd largest holding. Reynders McVeigh Capital Management LLC's holdings in Apple were worth $177,300,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Berkshire Hathaway Inc acquired a new stake in shares of Apple during the 2nd quarter valued at about $65,950,297,000. Bank of America Corp DE acquired a new position in Apple in the second quarter worth about $36,986,090,000. Legal & General Group Plc acquired a new position in Apple in the second quarter worth about $30,443,242,000. Amundi lifted its stake in Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Apple by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock worth $14,858,200,000 after purchasing an additional 979,832 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Timothy Cook sold 191,753 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the sale, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This trade represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the completion of the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 279,383 shares of company stock worth $92,912,517 over the last ninety days. Company insiders own 0.06% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan raised its Apple price target from $340 to $360 and maintained an “Overweight” rating, citing improved iPhone 18 Pro demand. Bank of America reiterated its Buy rating and kept a $370 target, viewing potential Starlink competition as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Apple reportedly reached a 22% share of the global smartphone market in the third quarter, supported by premium iPhone 18 Pro demand despite an overall industry shipment decline. Reports of strong orders for a new foldable iPhone also provided an additional growth narrative. Apple Stock Nears Record High as iPhone Market Share Hits 22%
• Positive Sentiment: Investors are anticipating Apple’s expanded smart-home strategy, including a rumored HomeView hub and updated Apple TV and HomePod mini. A successful launch could strengthen Apple’s ecosystem and open a new product category. Will the HomeView Be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession is proceeding with John Ternus replacing Tim Cook, while Cook becomes executive chairman. Apple also met with Chinese officials, underscoring the importance of maintaining stable business and trade relations in its largest overseas market. Tim Cook Meets China’s Vice Premier
• Negative Sentiment: SpaceX’s planned Starlink mobile service could pressure wireless-carrier subsidies that support iPhone sales and eventually create a competing smartphone ecosystem. SpaceX’s Starlink Could Pose Risks to Apple
• Negative Sentiment: Reported supplier order reductions and rising memory costs are renewing concerns about iPhone 18 demand and margins. Google’s integration of wearable data with more than 160 lab tests also increases competition for Apple’s health-platform advantage. iPhone 18 Demand and Supplier Order Cuts

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. KGI Securities downgraded Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective on the stock. in a report on Monday, June 22nd. Daiwa Securities Group increased their target price on Apple from $325.00 to $335.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Barclays reissued an "underweight" rating and issued a $245.00 target price (down from $253.00) on shares of Apple in a report on Friday, July 31st. Seaport Research Partners downgraded Apple from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $303.00 price target on shares of Apple in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $340.39.

Apple Stock Up 1.3%

NASDAQ AAPL opened at $340.97 on Tuesday. The firm has a market cap of $4.98 trillion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07. Apple Inc. has a one year low of $243.42 and a one year high of $345.34. The stock's 50 day simple moving average is $323.36 and its 200 day simple moving average is $303.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results 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 return on equity of 135.46% and a net margin of 27.62%. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same period last year, the firm posted $1.57 EPS. The business's revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is presently 12.39%.

Apple Company 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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