Wallace Capital Management Inc. Makes New Investment in Apple Inc. $AAPL

Key Points

• Wallace Capital Management initiated a position in Apple during the second quarter, buying 12,969 shares valued at approximately $3.75 million. Apple now represents about 0.4% of the firm’s portfolio.
• Institutional ownership remains substantial at 67.73%, with major investors including Legal & General, Nuveen, Amundi, Dimensional Fund Advisors and Fisher Asset Management increasing or establishing positions.
• Apple reported strong recent results, with quarterly revenue up 16.4% year over year and EPS exceeding analyst expectations, but its roughly 39x P/E valuation leaves the stock exposed to margin pressure from rising component costs, AI competition and legal or product-related issues.

Wallace Capital Management Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,969 shares of the iPhone maker's stock, valued at approximately $3,753,000. Apple comprises about 0.4% of Wallace Capital Management Inc.'s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in shares of Apple during the 2nd quarter worth about $30,443,242,000. Nuveen LLC grew its stake in Apple by 3.8% in the 4th quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock valued at $20,389,750,000 after buying an additional 2,725,121 shares during the last quarter. Amundi raised its holdings in Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after acquiring an additional 13,780,080 shares during the period. Dimensional Fund Advisors LP lifted its position in Apple by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock worth $14,858,200,000 after acquiring an additional 979,832 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Apple by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 55,146,752 shares of the iPhone maker's stock worth $14,992,196,000 after acquiring an additional 704,293 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: iPhone 18 demand remains encouraging. Long lines in India and strong interest in the iPhone 18 Pro and Pro Max suggest Apple’s premium pricing is holding up in an important growth market. Evercore ISI raised its price target to $380 from $365 while maintaining an outperform rating. Apple iPhone demand in India
• Positive Sentiment: Momentum and technical positioning remain supportive. AAPL has gained roughly 10% over the past month and is approaching a potential buy point, helping sustain investor interest. Bank of America and JPMorgan have reiterated bullish ratings, while several analysts maintain targets above the current trading range. Apple stock approaches buy point
• Neutral Sentiment: Apple is expanding its product ecosystem. The company plans a refreshed HomePod mini, while reports suggest it may develop its own AI server chips. These initiatives could support future ecosystem engagement and infrastructure efficiency, but they are not yet material earnings drivers. Apple to release new HomePod mini
• Negative Sentiment: Rising component costs could pressure margins. Bernstein warned that surging memory and other smartphone component costs may weigh on gross margins and earnings in the December quarter, particularly as Apple introduces more expensive iPhones. Apple’s expensive new iPhones and margins
• Negative Sentiment: Valuation and AI execution remain key risks. At nearly $5 trillion in market value and about 38–39 times earnings, Apple requires continued earnings growth to justify its valuation. Analysts argue Alphabet’s Gemini ecosystem and monetization progress currently give it an edge in consumer AI, while Meta’s AI devices add competitive pressure. Alphabet versus Apple in consumer AI
• Negative Sentiment: Legal and product issues add uncertainty. A judge certified a class of payment card issuers in an Apple Pay antitrust lawsuit alleging improper fees. Separately, Apple is preparing a software fix for an iPhone 18 Pro reboot problem. Apple Pay class-action lawsuit

Insiders Place Their Bets

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total value of $815,803.94. Following the transaction, the senior vice president owned 44,391 shares in the company, valued at $15,095,603.46. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 11,031 shares of company stock valued at $3,535,759 over the last quarter. Company insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of AAPL opened at $341.07 on Monday. Apple Inc. has a one year low of $243.42 and a one year high of $345.34. The company has a market cap of $4.98 trillion, a P/E ratio of 39.11, a P/E/G ratio of 2.96 and a beta of 1.08. 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 firm has a 50 day simple moving average of $321.56 and a two-hundred day simple moving average of $297.64.

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

Apple Dividend Announcement

The firm also recently disclosed 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. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is currently 12.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays reaffirmed an "underweight" rating and issued a $245.00 target price (down from $253.00) on shares of Apple in a research report on Friday, July 31st. BTIG Research initiated coverage on Apple in a research note on Monday, August 17th. They issued a "neutral" rating for the company. Moffett Nathanson reaffirmed a "neutral" rating and issued a $304.00 price objective (up from $270.00) on shares of Apple in a report on Tuesday, September 8th. Citic Securities increased their price objective on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Finally, CICC Research lifted their target price on Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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 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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