West Family Investments Inc. Acquires 2,245 Shares of Apple Inc. $AAPL

Key Points

• West Family Investments increased its Apple stake by 5.3% in the second quarter, purchasing 2,245 additional shares and bringing its holdings to 44,337 shares valued at approximately $12.8 million.
• Institutional investors own 67.73% of Apple, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $340.02.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, exceeding estimates and representing 16.4% year-over-year revenue growth; the company also paid a quarterly dividend of $0.27 per share.

West Family Investments Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,337 shares of the iPhone maker's stock after buying an additional 2,245 shares during the period. Apple comprises about 3.6% of West Family Investments Inc.'s portfolio, making the stock its 3rd biggest holding. West Family Investments Inc.'s holdings in Apple were worth $12,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. SSI Investment Management LLC bought a new position in Apple in the 2nd quarter valued at approximately $3,083,000. Tacita Capital Inc bought a new stake in Apple during the 2nd quarter worth approximately $1,553,000. Knuff & Co LLC bought a new stake in Apple during the 2nd quarter worth approximately $46,810,000. NewEdge Wealth LLC bought a new stake in Apple during the 2nd quarter worth approximately $403,397,000. Finally, Rockbridge Asset Management LLC acquired a new position in Apple in the 2nd quarter valued at approximately $9,716,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AAPL shares. The Goldman Sachs Group initiated coverage on shares of Apple in a research note on Monday, August 17th. They set a "buy" rating for the company. Raymond James Financial reiterated a "market perform" rating on shares of Apple in a report on Friday, July 31st. Weiss Ratings raised shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Loop Capital set a $380.00 price objective on shares of Apple in a research note on Friday, September 18th. Finally, Citigroup restated a "buy" rating on shares of Apple in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $340.02.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $336.64 on Friday. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $345.34. The stock's 50 day moving average is $322.61 and its 200-day moving average is $302.99. 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 firm has a market capitalization of $4.91 trillion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.68 and a beta of 1.07.

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 (EPS) for the quarter, beating 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 business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the firm posted $1.57 EPS. Apple's revenue was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio is presently 12.39%.

Insider Buying and Selling at Apple

In other news, CEO John Ternus sold 25,412 shares of Apple stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer directly owned 59,567 shares in the company, valued at $19,832,236.98. This trade represents a 29.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy D. Cook sold 191,753 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the sale, the insider directly owned 3,264,168 shares of the company's stock, valued at approximately $1,086,837,377.28. The trade was a 5.55% 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 sold a total of 279,383 shares of company stock valued at $92,912,517 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

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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