Socorro Asset Management LP Cuts Stock Holdings in Apple Inc. $AAPL

Key Points

• Socorro Asset Management cut its Apple stake by 13% in the first quarter, selling 3,620 shares and retaining 24,302 shares valued at approximately $6.17 million. Apple represents 2.8% of the firm’s portfolio.
• Apple reported a strong quarter, with revenue up 16.4% year over year to $109.42 billion and EPS of $2.02, beating analyst expectations.
• Analyst sentiment remains mixed: while the consensus rating is “Moderate Buy” with an average price target of $328.60, Jefferies downgraded the stock to “Underperform” and lowered its target to $263.66 amid concerns about iPhone pricing power and production costs.

Socorro Asset Management LP reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,302 shares of the iPhone maker's stock after selling 3,620 shares during the period. Apple comprises about 2.8% of Socorro Asset Management LP's portfolio, making the stock its 24th biggest holding. Socorro Asset Management LP's holdings in Apple were worth $6,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple during the 4th quarter worth about $41,000. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC purchased a new position in shares of Apple in the 4th quarter valued at about $69,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth approximately $65,000. Finally, Inspire Investing LLC purchased a new position in Apple during the fourth quarter worth approximately $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s latest quarter was its strongest June quarter on record, with revenue rising 16.4% year over year to $109.42 billion and earnings per share of $2.02, ahead of Wall Street expectations. Some investors and analysts, including Gene Munster, view the recent weakness as an attractive accumulation opportunity and anticipate a substantial iPhone upgrade cycle. Apple’s Dip Below $310 is a Great Accumulation Opportunity
• Positive Sentiment: Apple is reportedly exploring alternative memory suppliers, including China’s CXMT, as artificial-intelligence demand tightens global DRAM supplies. Diversifying procurement could help reduce shortages and limit production disruptions, although U.S. restrictions may constrain the opportunity. Apple tests China’s CXMT memory chips
• Neutral Sentiment: Apple is participating in efforts to make AI-generated content traceable, potentially strengthening platform trust and content provenance over time. The initiative is strategically relevant but is unlikely to materially affect near-term earnings. Tech’s Big Push to Make AI Content Traceable
• Neutral Sentiment: Apple Pay and Wallet chief Jennifer Bailey is retiring, creating another senior leadership transition. The impact depends on the successor and execution in financial services. Jennifer Bailey retires
• Negative Sentiment: Jefferies downgraded AAPL from Hold to Underperform and cut its price target to $263.66 from $285.56. The firm cited supply-chain checks suggesting Apple may have abandoned a high-end all-glass iPhone, weakening the case for significantly higher average selling prices. Bloomberg separately reported that the 2027 device may still be on track, leaving uncertainty rather than confirmation. Jefferies downgrades Apple
• Negative Sentiment: Surging memory and storage costs could raise iPhone production expenses by roughly 38%, forcing Apple to choose between higher prices that could pressure demand and lower margins. Reports that iPhone prices have already increased by as much as $300 are intensifying concerns about consumer affordability and pricing power. Apple’s Next iPhone Could Test Pricing Power
• Negative Sentiment: Analyst confidence has cooled despite strong revenue growth, with investors questioning whether Apple can sustain premium-device growth at its roughly $4.45 trillion valuation, particularly as Nvidia and other AI leaders capture more market enthusiasm.

Analysts Set New Price Targets

A number of research firms have recently commented on AAPL. Wedbush restated an "outperform" rating and issued a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. China Renaissance lowered Apple from a "buy" rating to a "hold" rating and set a $280.00 target price on the stock. in a research report on Tuesday, August 4th. UBS Group reissued a "neutral" rating on shares of Apple in a research note on Friday, July 31st. Barclays reissued an "underweight" rating and issued a $245.00 price target (down from $253.00) on shares of Apple in a report on Friday, July 31st. Finally, Jefferies Financial Group cut shares of Apple from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $285.56 to $263.66 in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $328.60.

Apple Trading Down 1.1%

AAPL stock opened at $304.91 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12-month low of $223.78 and a 12-month high of $344.57. The stock has a market cap of $4.45 trillion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.64 and a beta of 1.09. The business's 50-day moving average is $309.28 and its 200 day moving average is $284.26.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a dividend of $0.27 per share. 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 presently 12.39%.

Insider Activity at Apple

In related news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider directly 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 can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company's stock.

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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