Smith Group Asset Management LLC Grows Position in Apple Inc. $AAPL

Key Points

• Smith Group Asset Management increased its Apple stake by 4.9% in the first quarter to 311,523 shares worth approximately $79.1 million, making Apple its third-largest holding. Institutional investors collectively own 67.73% of Apple.
• Apple reported a strong quarter, with earnings of $2.02 per share beating estimates and revenue rising 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $328.60, although concerns persist over Apple’s premium valuation, memory shortages, AI momentum and potential margin pressure.

Smith Group Asset Management LLC lifted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,523 shares of the iPhone maker's stock after buying an additional 14,556 shares during the quarter. Apple comprises approximately 4.0% of Smith Group Asset Management LLC's holdings, making the stock its 3rd largest position. Smith Group Asset Management LLC's holdings in Apple were worth $79,061,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Apple in the fourth quarter valued at about $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple during the 1st quarter worth about $17,472,482,000. Cardano Risk Management B.V. boosted its stake in Apple by 890.7% during the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC boosted its stake in Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Apple by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 0.9%

Shares of AAPL opened at $302.25 on Thursday. 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 cap of $4.41 trillion, a PE ratio of 34.66, a PEG ratio of 2.61 and a beta of 1.09. Apple Inc. has a 1 year low of $223.78 and a 1 year high of $344.57. The stock has a 50 day simple moving average of $309.12 and a 200-day simple moving average of $284.64.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS 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 business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. Apple's quarterly revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple's payout ratio is currently 12.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AAPL shares. The Goldman Sachs Group reiterated a "buy" rating and set a $360.00 price target (down from $370.00) on shares of Apple in a report on Friday, July 31st. DA Davidson reaffirmed a "neutral" rating and set a $270.00 target price on shares of Apple in a research report on Friday, July 31st. Robert W. Baird upped their target price on shares of Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Wedbush reissued an "outperform" rating and issued a $400.00 price target on shares of Apple in a report on Friday, June 5th. Finally, Citigroup restated a "buy" rating and issued a $365.00 price target (up from $315.00) on shares of Apple in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $328.60.

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is testing DRAM chips from China’s ChangXin Memory Technologies (CXMT) for iPhones and MacBooks and has discussed potential supply arrangements. Diversifying memory suppliers could reduce shortages and limit cost pressure, although geopolitical and quality-control risks remain. Apple’s CXMT Bet Could Strengthen Its Memory Supply, But Risks Remain
• Positive Sentiment: Apple is reportedly in talks with publishers to license content for an AI-powered Siri. Access to current, high-quality information could improve Siri as Apple prepares a major AI-focused iPhone software update. Apple in Talks to Pay Publishers to Improve AI-Powered Siri
• Positive Sentiment: Apple’s latest quarter remained strong, with revenue up 16.4% year over year and earnings exceeding consensus estimates. Some investors also view the recent pullback as an accumulation opportunity, while Crake Asset Management reportedly increased its Apple position.
• Neutral Sentiment: Apple hired former American Airlines executive Nate Gatten to lead government affairs, highlighting the importance of tariffs, regulation and White House relations. The appointment could improve policy execution but also underscores heightened political risk. Apple Hires Former American Airlines Executive to Lead Government Affairs
• Neutral Sentiment: CEO Tim Cook is expected to hand leadership to John Ternus on September 1, while Apple Pay and Wallet chief Jennifer Bailey plans to retire in October. The transitions create execution uncertainty but may also mark a planned leadership refresh.
• Negative Sentiment: Jefferies cut its Apple rating and price target, questioning whether the company has sufficient iPhone and AI momentum to justify its premium valuation. The firm also cited supply-chain concerns about a high-end all-glass iPhone and weaker average-selling-price growth. Apple Stock Falls After Jefferies Slashes Price Target
• Negative Sentiment: Memory shortages driven by AI demand are raising Apple’s bill of materials and could pressure margins or force additional iPhone price increases. Google’s new Pixel 11 lineup also intensifies competition in AI-enabled smartphones. Apple additionally faces a class-action lawsuit alleging that its iCloud+ privacy claims misled consumers.

Apple Company 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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