Stack Financial Management Inc purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,487 shares of the iPhone maker's stock, valued at approximately $1,588,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Sterling Wealth Management Inc. boosted its position in shares of Apple by 0.3% during 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 in the last quarter. Evansbrook LLC raised its holdings in shares of 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. raised its holdings in shares of Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock worth $1,295,000 after purchasing an additional 35 shares in the last quarter. Reyes Financial Architecture Inc. lifted its stake in Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after purchasing an additional 37 shares during the last quarter. Finally, Advocate Investing Services LLC lifted its stake in Apple by 0.5% during the second quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker's stock valued at $2,271,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $332.27 on Friday. The company's fifty day moving average is $318.20 and its two-hundred day moving average is $292.45. The company has a market cap of $4.85 trillion, a P/E ratio of 38.10, a price-to-earnings-growth ratio of 2.88 and a beta of 1.08. Apple Inc. has a 12-month low of $229.02 and a 12-month high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results 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 business had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter last year, the firm posted $1.57 earnings per share. Apple's revenue was up 16.4% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal 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 given a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio is presently 12.39%.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Wells Fargo & Company restated an "overweight" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Friday, July 31st. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Royal Bank Of Canada set a $365.00 price objective on Apple in a research report on Wednesday, July 15th. Morgan Stanley reissued an "overweight" rating and set a $360.00 price objective on shares of Apple in a research note on Wednesday, September 2nd. Finally, UBS Group restated a "neutral" rating on shares of Apple in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $334.91.
Read Our Latest Analysis on Apple
Insider Buying and Selling
In other news, insider Ben Borders sold 116 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,438 shares of Apple stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $317.23, for a total value of $456,176.74. Following the sale, the senior vice president owned 34,352 shares of the company's stock, valued at approximately $10,897,484.96. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,310 shares of company stock valued at $2,279,378. Insiders own 0.06% of the company's stock.
More Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: iPhone Duo creates a potential new growth cycle. Apple’s $1,999 foldable iPhone, scheduled to arrive October 23, could drive upgrades, deepen ecosystem engagement and add a high-margin premium product category. Some analysts believe foldables could eventually account for 10% to 20% of iPhone revenue. How Wall Street viewed Apple's foldable iPhone
- Positive Sentiment: Analysts see renewed hardware momentum. Alongside the Duo, Apple unveiled the iPhone 18 Pro lineup, new Apple Watch models, AirPods 5 and expanded Siri AI features. TD Cowen maintained a Buy rating with a $400 target, supporting the bullish reaction. TD Cowen reiterates Buy rating
- Positive Sentiment: Carrier promotions could reduce sticker-price resistance. T-Mobile, AT&T and Verizon are offering installment and trade-in incentives for the expensive Duo, potentially broadening access without an immediate industrywide price war. Wireless carrier promotions
- Neutral Sentiment: Wall Street remains divided. Bank of America retained a Buy rating but lowered its price target to $370, while Rosenblatt kept a Neutral rating and $303 target. The debate centers on Duo demand, supply constraints, valuation and the durability of the upgrade cycle.
- Negative Sentiment: Margin pressure remains the main risk. Apple raised iPhone Pro prices by $100, but memory and other component costs are rising rapidly. Management has already guided to lower gross margins, raising concerns that pricing may not fully offset higher costs. Apple margin pressure from memory costs
- Negative Sentiment: Premium valuation and competition limit upside. Apple trades near the upper end of its historical earnings multiple, while Huawei, Xiaomi and Samsung remain strong competitors in China and the foldable market.
- Negative Sentiment: Insider selling is a modest cautionary signal. SVP Jennifer Newstead sold approximately $456,000 of stock, reducing her direct holdings by about 4%, although she retains a substantial position.
Apple Profile
(
Free Report)
Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.
Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company's ecosystem of devices.
Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.
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