Turner Financial Group Inc. Purchases New Position in Apple Inc. $AAPL

Key Points

• Turner Financial Group acquired 2,671 Apple shares worth approximately $773,000, making Apple its 27th-largest holding and about 0.8% of its portfolio. Institutional investors collectively own 67.73% of Apple.
• Apple reported strong quarterly results, with earnings of $2.02 per share and revenue of $109.42 billion, up 16.4% year over year and above analyst expectations.
• Apple shares opened at $333.63, near the consensus analyst target of $340.02. While analysts maintain a “Moderate Buy” consensus, valuation concerns, potential margin pressure from memory costs and recent insider stock sales remain risks.

Turner Financial Group Inc. acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,671 shares of the iPhone maker's stock, valued at approximately $773,000. Apple accounts for approximately 0.8% of Turner Financial Group Inc.'s holdings, making the stock its 27th biggest holding.

A number of other hedge funds also recently bought and sold shares of the stock. Berkshire Hathaway Inc purchased a new stake in shares of Apple during the 2nd quarter worth $65,950,297,000. Bank of America Corp DE purchased a new stake in shares of Apple during the second quarter valued at about $36,986,090,000. Legal & General Group Plc bought a new stake in shares of Apple in the 2nd quarter valued at about $30,443,242,000. Deutsche Bank AG bought a new position in shares of Apple during the 2nd quarter worth approximately $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Apple during the second quarter valued at approximately $10,588,946,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $333.63 on Wednesday. The company has a 50 day simple moving average of $321.95 and a two-hundred day simple moving average of $301.49. The stock has a market cap of $4.87 trillion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.65 and a beta of 1.07. 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 $243.42 and a 12 month high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter last year, the company posted $1.57 earnings per share. The firm's revenue was up 16.4% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 8.75 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 issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is 12.39%.

Insider Buying and Selling

In other Apple news, CEO John Ternus sold 25,412 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the transaction, the chief executive officer directly owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 276,984 shares of company stock valued at $92,116,025 in the last ninety days. Insiders own 0.06% of the company's stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly partnering with LG to develop smart-home products including a smart lock, thermostat and doorbell. Expanding into connected-home hardware could deepen the Apple ecosystem and create additional long-term revenue opportunities. Apple smart home partnership
• Positive Sentiment: App Store revenue growth rebounded to approximately 5% in September after a weaker August, suggesting improving momentum for Apple’s high-margin Services business. The recovery is supportive, although UBS remains cautious about the durability of the growth. App Store growth rebounds
• Positive Sentiment: Apple’s latest reported quarter remains a fundamental support: revenue rose 16.4% year over year to $109.42 billion and earnings exceeded analyst expectations. Investor optimism is also tied to a potential Siri overhaul and stronger AI capabilities.
• Neutral Sentiment: Apple is trading above many analyst price targets, while its roughly 38-times earnings valuation leaves limited room for execution disappointments. Investors are watching whether a possible $1,999 foldable iPhone can justify premium pricing and sustain the current market multiple. Apple valuation and memory costs
• Neutral Sentiment: Apple’s weighting in major index and technology ETFs remains substantial as Apple, Microsoft and Nvidia together account for about 21% of the S&P 500. This supports demand through passive investing but also increases concentration and valuation risk. Apple ETF exposure
• Negative Sentiment: Memory-cost inflation could pressure gross margins, while analysts expect earnings growth to slow to roughly 8.5% in 2027. Concerns that Apple remains behind rivals in AI monetization make the premium valuation more difficult to defend. Apple earnings multiple concerns
• Negative Sentiment: CEO John Ternus, Timothy Cook and SVP Deirdre O’Brien sold shares worth roughly $87.8 million in total. The filings cited tax withholding related to vested equity awards, reducing the signal of bearish intent, but the insider selling may still create short-term headline pressure. Apple insider sales

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. Citic Securities upped their price target on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. China Renaissance lowered Apple from a "buy" rating to a "hold" rating and reduced their target price for the company from $329.00 to $280.00 in a research report on Tuesday, August 4th. HSBC reissued a "buy" rating and issued a $366.00 price target on shares of Apple in a report on Tuesday, September 8th. Phillip Securities increased their price objective on shares of Apple from $290.00 to $300.00 and gave the company a "neutral" rating in a research report on Monday, September 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Apple in a research report on Monday, August 17th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.02.

Apple Profile

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

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.