Apple Inc. $AAPL is Quantum Private Wealth LLC’s Largest Position

Quantum Private Wealth LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,104 shares of the iPhone maker’s stock after selling 4,967 shares during the quarter. Apple comprises about 7.5% of Quantum Private Wealth LLC’s portfolio, making the stock its biggest position. Quantum Private Wealth LLC’s holdings in Apple were worth $29,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. purchased a new stake in Apple during the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter worth $65,000. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the fourth quarter worth $69,000. Finally, 49 Wealth Management LLC lifted its stake in shares of Apple by 15.7% during the third quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock worth $76,000 after buying an additional 40,543 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 that occurred on Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total transaction of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares of the company’s stock, valued at approximately $11,345,787.90. This trade represents a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,872 shares of company stock worth $1,823,201. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $319.97 on Friday. The firm has a market capitalization of $4.67 trillion, a P/E ratio of 36.69, a PEG ratio of 2.84 and a beta of 1.08. The stock has a 50-day simple moving average of $315.65 and a two-hundred day simple moving average of $290.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple Inc. has a fifty-two week low of $225.95 and a fifty-two week high of $344.57.

Apple (NASDAQ:AAPL) last issued its 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. 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 in the prior year, the business earned $1.57 earnings per share. 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 disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple’s dividend payout ratio is currently 12.39%.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Oppenheimer reissued a “market perform” rating on shares of Apple in a research report on Friday, July 31st. Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. HSBC upgraded Apple from a “hold” rating to a “buy” rating and boosted their price target for the company from $260.00 to $366.00 in a research note on Thursday, July 16th. China Renaissance downgraded Apple from a “buy” rating to a “hold” rating and set a $280.00 target price for the company. in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada set a $365.00 target price on Apple in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $330.61.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Sept. 9 product event is generating significant interest under new CEO John Ternus, with expectations for new iPhones, an Apple Watch update and potentially the company’s first foldable iPhone. Citi estimates the foldable device could sell 7.3 million units despite a possible price above $2,000. Citi foldable iPhone sales forecast
• Positive Sentiment: Apple’s latest quarter showed strong momentum, with revenue rising 16.4% year over year and earnings exceeding analyst expectations. Morgan Stanley has also suggested the foldable iPhone could contribute roughly $14 billion in December-quarter revenue if successfully launched. Morgan Stanley foldable iPhone estimate
• Neutral Sentiment: John Ternus has succeeded Tim Cook as CEO, while Cook remains executive chairman. The transition offers continuity through a longtime Apple executive but raises questions about whether Ternus can accelerate Apple’s artificial-intelligence strategy and sustain Cook-era growth. John Ternus becomes Apple CEO
• Negative Sentiment: Reports indicate initial foldable iPhone production was only a few hundred units per day in late August. Tight quality controls and memory shortages could limit launch supply, delay purchases and prevent Apple from fully capturing expected demand. Foldable iPhone production hurdles
• Negative Sentiment: Memory costs have reportedly surged, potentially forcing Apple to raise iPhone prices, absorb lower margins or risk weaker demand. Jefferies has also downgraded AAPL amid skepticism about the foldable product’s market potential. iPhone memory cost concerns
• Negative Sentiment: Apple faces a $2.7 billion UK lawsuit over alleged unfair app-tracking rules and a separate BASF patent lawsuit involving facial-authentication technology, adding regulatory and litigation risk. Apple UK app-tracking lawsuit

Apple Profile

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.