Transamerica Financial Advisors LLC Buys New Stake in Apple Inc. $AAPL

Key Points

• Transamerica Financial Advisors purchased 33,214 Apple shares worth approximately $9.6 million in the second quarter, making Apple 0.8% of its portfolio. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share and revenue of $109.42 billion, exceeding analyst estimates; revenue increased 16.4% year over year. The company also pays a quarterly dividend of $0.27 per share.
• Analysts maintain a generally positive outlook, with Apple receiving a “Moderate Buy” consensus rating and an average price target of $340.14, although some firms recently downgraded the stock to neutral or hold.

Transamerica Financial Advisors LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 33,214 shares of the iPhone maker's stock, valued at approximately $9,611,000. Apple comprises 0.8% of Transamerica Financial Advisors LLC's investment portfolio, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Hathaway Inc acquired a new position in Apple during the second quarter worth $65,950,297,000. Bank of America Corp DE acquired a new stake in shares of Apple in the second quarter worth about $36,986,090,000. Legal & General Group Plc acquired a new stake in shares of Apple in the second quarter worth about $30,443,242,000. Nuveen LLC boosted its stake in shares of Apple by 3.8% during the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock worth $20,389,750,000 after acquiring an additional 2,725,121 shares in the last quarter. Finally, Amundi boosted its stake in shares of Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after acquiring an additional 13,780,080 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

AAPL opened at $338.40 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock's 50 day moving average price is $321.79 and its two-hundred day moving average price is $298.18. The firm has a market capitalization of $4.94 trillion, a P/E ratio of 38.81, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates 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 company earned $1.57 earnings per share. The company's quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors 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 yield of 0.3%. Apple's payout ratio is 12.39%.

Apple News Roundup

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

Insider Buying and Selling

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total value 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. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 11,031 shares of company stock worth $3,535,759. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Wedbush reiterated an "outperform" rating and set a $400.00 price target on shares of Apple in a report on Friday, June 5th. Arete Research boosted their price objective on shares of Apple from $305.00 to $335.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Seaport Research Partners downgraded shares of Apple from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. DZ Bank downgraded shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 price objective for the company. in a report on Tuesday, August 4th. Finally, DA Davidson reiterated a "neutral" rating and issued a $270.00 target price on shares of Apple in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $340.14.

About Apple

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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