Stonehaven Wealth & Tax Solutions LLC Acquires New Shares in Apple Inc. $AAPL

Key Points

• Stonehaven Wealth & Tax Solutions acquired 5,005 Apple shares in the second quarter, valued at approximately $1.45 million. Apple now represents about 1.2% of the firm’s portfolio and is its 14th-largest holding.
• Institutional investors own approximately 67.73% of Apple, with Vanguard, State Street, Geode Capital and Morgan Stanley among the company’s largest holders.
• Apple’s outlook is mixed: analysts see potential growth from the foldable iPhone and renewed hardware demand, but cite margin pressure, premium valuation and competition as key risks. The stock carries a “Moderate Buy” consensus rating with an average price target of $334.91.

Stonehaven Wealth & Tax Solutions LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,005 shares of the iPhone maker's stock, valued at approximately $1,448,000. Apple makes up about 1.2% of Stonehaven Wealth & Tax Solutions LLC's holdings, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 worth $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. State Street Corp grew its position in shares of Apple by 1.1% during the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker's stock valued at $164,218,801,000 after purchasing an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker's stock valued at $97,031,587,000 after purchasing an additional 1,866,103 shares in the last quarter. Morgan Stanley increased its holdings in shares of Apple by 0.6% in the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker's stock worth $62,659,118,000 after purchasing an additional 1,379,651 shares during the period. Finally, Norges Bank bought a new position in shares of Apple in the fourth quarter worth $52,266,468,000. 67.73% of the stock is currently owned by institutional investors.

Trending Headlines about Apple

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.

Insider Transactions at Apple

In other news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total transaction of $456,177.39. Following the completion of the sale, the senior vice president directly owned 35,790 shares in the company, valued at approximately $11,345,787.90. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% 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 sold 7,310 shares of company stock worth $2,279,378 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Seaport Research Partners cut Apple from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. DA Davidson reaffirmed a "neutral" rating and issued a $270.00 price target on shares of Apple in a report on Wednesday, September 2nd. Robert W. Baird boosted their price objective on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Barclays restated an "underweight" rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and a consensus target price of $334.91.

Apple Price Performance

Shares of AAPL opened at $332.27 on Monday. Apple Inc. has a 1 year low of $229.02 and a 1 year high of $344.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $318.20 and a two-hundred day simple moving average of $292.63. The firm has a market cap of $4.85 trillion, a P/E ratio of 38.10, a P/E/G ratio of 2.89 and a beta of 1.08.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 earnings per share. On average, analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed 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 dividend yield of 0.3%. Apple's payout ratio is presently 12.39%.

Apple Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.