Wendell David Associates Inc. Has $73.54 Million Stake in Apple Inc. $AAPL

Key Points

• Wendell David Associates increased its Apple stake by 0.7% in the second quarter to 254,154 shares valued at $73.54 million, making Apple approximately 7.8% of its portfolio. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly revenue of $109.42 billion and earnings of $2.02 per share, beating estimates, while revenue rose 16.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $330.53.
• Investors are weighing upcoming product launches and an orderly CEO transition to John Ternus against AI strategy, execution and valuation risks. Apple shares recently traded at $313.63 with a market capitalization of $4.58 trillion and a P/E ratio near 36.

Wendell David Associates Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 254,154 shares of the iPhone maker's stock after buying an additional 1,805 shares during the quarter. Apple makes up about 7.8% of Wendell David Associates Inc.'s investment portfolio, making the stock its largest holding. Wendell David Associates Inc.'s holdings in Apple were worth $73,542,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. First National Bank of Hutchinson increased its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its position in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC boosted its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its position in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its position in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after buying an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Orderly CEO succession: Tim Cook is leaving the CEO role after 15 years but will remain Apple’s executive chairman. Cook strongly endorsed successor John Ternus, a longtime hardware leader, potentially reducing fears of an abrupt management break. Tim Cook's parting message: Apple is in the hands of a product builder
• Positive Sentiment: Product catalysts ahead: Apple’s first major product event under Ternus is expected September 9, with reports pointing to new iPhones and a possible foldable model. Strong iPhone demand, potential iOS market-share gains and rising interest in Mac hardware for AI workloads could support future revenue. Apple Valuation Nears $5T as John Ternus Steps Up as New CEO
• Neutral Sentiment: Strong track record and support: Cook’s tenure produced substantial shareholder gains, while Apple’s latest quarter delivered revenue growth and an earnings beat. Analysts’ median price target remains above the current quotation, although the stock’s elevated valuation leaves less room for disappointment.
• Negative Sentiment: AI strategy concerns: Ternus inherits an artificial-intelligence strategy that relies heavily on outside partners, leaving Apple behind leading rivals in some areas. Investors will look for evidence that the new CEO can accelerate AI-powered Siri and on-device capabilities. Apple’s New CEO Inherits an AI Strategy Built on Outsiders
• Negative Sentiment: Execution and valuation risks: Commentators warn that App Store pressure, supply-chain challenges, potential memory-cost inflation and a trailing P/E near 37 make Apple vulnerable if the September launch disappoints. Apple TV+’s latest price increase could also slow subscriber growth. Apple Is Facing One of Its Most Challenging Times in a Decade

Insiders Place Their Bets

In other news, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The shares were 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 in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total value of $447,457.05. Following the completion of the sale, the senior vice president owned 37,229 shares of the company's stock, valued at $11,576,357.55. This trade represents a 3.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,433 shares of company stock valued at $1,367,024. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AAPL. UBS Group reissued a "neutral" rating on shares of Apple in a research report on Friday, July 31st. Seaport Research Partners lowered shares of Apple from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. TD Cowen boosted their price target on shares of Apple from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Robert W. Baird lifted their target price on shares of Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Bank of America reissued a "buy" rating and set a $380.00 price target on shares of Apple in a research report on Thursday, June 18th. One investment 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $330.53.

Apple Stock Performance

Shares of AAPL stock traded down $6.07 during trading hours on Monday, hitting $313.63. The stock had a trading volume of 15,356,139 shares, compared to its average volume of 49,963,801. The firm has a market capitalization of $4.58 trillion, a PE ratio of 35.97, a PEG ratio of 2.74 and a beta of 1.09. Apple Inc. has a twelve month low of $225.95 and a twelve month high of $344.57. The stock's 50 day moving average is $312.24 and its 200 day moving average is $288.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating 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 the consensus estimate of $109.04 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The company's revenue was up 16.4% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders 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 dividend payout ratio (DPR) is currently 12.39%.

About Apple

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.