Sanchez Levi Garrett Makes New Investment in Apple Inc. $AAPL

Key Points

• Sanchez Levi Garrett purchased 17,245 Apple shares worth approximately $4.99 million in the second quarter, making Apple 2.7% of its portfolio and its ninth-largest holding.
• Apple reported quarterly revenue of $109.42 billion and EPS of $2.02, exceeding analyst expectations; revenue rose 16.4% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $340.14 price target.
• Apple faces significant legal risks, including a potential $5.7 billion patent award and revived U.K. competition litigation, while institutional investors continue to own a majority stake of 67.73%.

Sanchez Levi Garrett purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,245 shares of the iPhone maker's stock, valued at approximately $4,990,000. Apple accounts for 2.7% of Sanchez Levi Garrett's investment portfolio, making the stock its 9th largest holding.

A number of other large investors have also recently modified their holdings of the stock. Sterling Wealth Management Inc. lifted its stake in shares of Apple by 0.3% in the 2nd quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker's stock valued at $3,351,000 after purchasing an additional 30 shares during the period. Evansbrook LLC boosted its stake in Apple by 0.4% in the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock worth $2,054,000 after purchasing an additional 34 shares in the last quarter. JMG Financial Group Ltd. lifted its stake in shares of Apple by 0.7% in the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock worth $1,295,000 after buying an additional 35 shares in the last quarter. Advocate Investing Services LLC lifted its position in Apple by 0.5% in the 2nd quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker's stock valued at $2,271,000 after acquiring an additional 39 shares in the last quarter. Finally, Interactive Financial Advisors Inc. boosted its position in shares of Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock valued at $286,000 after buying an additional 40 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Trending Headlines about Apple

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 Performance

Shares of NASDAQ:AAPL opened at $338.40 on Tuesday. 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 firm's 50-day moving average is $321.79 and its 200 day moving average is $298.18. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $345.34. The company has a market capitalization of $4.94 trillion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.96 and a beta of 1.08.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. The firm had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.Apple's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $1.57 EPS. Research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given 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%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AAPL shares. Jefferies Financial Group restated an "underperform" rating on shares of Apple in a report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft downgraded Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Citic Securities increased their price target on Apple from $300.00 to $349.00 in a research note on Thursday, August 6th. Phillip Securities increased their price objective on shares of Apple from $290.00 to $300.00 and gave the company a "neutral" rating in a report on Monday, September 14th. Finally, Loop Capital set a $380.00 price objective on Apple in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $340.14.

Insiders Place Their Bets

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction on 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. The trade was a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 11,031 shares of company stock worth $3,535,759. Insiders own 0.06% of the company's stock.

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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