Westpac Banking Corp Grows Holdings in Apple Inc. $AAPL

Westpac Banking Corp lifted its stake in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 365,000 shares of the iPhone maker’s stock after buying an additional 8,091 shares during the quarter. Apple makes up about 6.4% of Westpac Banking Corp’s investment portfolio, making the stock its 2nd largest position. Westpac Banking Corp’s holdings in Apple were worth $92,633,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter valued at $65,000. Timmons Wealth Management LLC bought a new stake in Apple in the fourth quarter worth $69,000. Finally, Inspire Investing LLC bought a new stake in Apple in the fourth quarter worth $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook’s Last Quarter as CEO Was Apple’s Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple’s Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple’s Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

Apple Stock Up 0.3%

NASDAQ:AAPL opened at $313.33 on Friday. The firm has a market capitalization of $4.57 trillion, a P/E ratio of 35.93, a PEG ratio of 2.68 and a beta of 1.09. Apple Inc. has a 1-year low of $219.25 and a 1-year high of $344.57. The company’s fifty day moving average price is $309.45 and its 200-day moving average price is $283.23. 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) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same period last year, the firm earned $1.57 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be 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 of this dividend is Monday, August 10th. Apple’s payout ratio is presently 12.39%.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Monday, June 22nd. UBS Group reaffirmed a “neutral” rating on shares of Apple in a report on Friday, July 31st. Maxim Group reissued a “buy” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. The Goldman Sachs Group restated a “buy” rating and set a $360.00 price objective (down from $370.00) on shares of Apple in a research report on Friday, July 31st. Finally, Jefferies Financial Group restated a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $330.44.

Apple Company 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.