Range Advisory LLC Buys 16,353 Shares of Apple Inc. $AAPL

Range Advisory LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 38.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,364 shares of the iPhone maker’s stock after buying an additional 16,353 shares during the period. Apple makes up approximately 2.0% of Range Advisory LLC’s holdings, making the stock its 8th biggest position. Range Advisory LLC’s holdings in Apple were worth $17,178,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Berkshire Hathaway Inc bought a new stake in Apple during the second quarter worth approximately $65,950,297,000. Bank of America Corp DE bought a new position in shares of Apple in the second quarter valued at approximately $36,986,090,000. Legal & General Group Plc acquired a new stake in shares of Apple in the second quarter worth $30,443,242,000. Deutsche Bank AG bought a new stake in shares of Apple during the 2nd quarter worth $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Apple during the 2nd quarter worth $10,588,946,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on AAPL shares. TD Cowen reiterated a “buy” rating and issued a $400.00 target price on shares of Apple in a report on Thursday, September 10th. KGI Securities cut 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. DA Davidson restated a “neutral” rating and set a $270.00 target price on shares of Apple in a research note on Wednesday, September 2nd. Bank of America reaffirmed a “buy” rating and issued a $370.00 target price on shares of Apple in a report on Wednesday, September 23rd. Finally, Rothschild & Co Redburn set a $400.00 price target on Apple and gave the stock a “buy” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $340.02.

Key Stories Impacting Apple

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

Insider Buying and Selling at Apple

In related news, insider Timothy D. Cook sold 191,753 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the sale, the insider owned 3,264,168 shares of the company’s stock, valued at $1,086,837,377.28. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the transaction, the senior vice president owned 41,992 shares of the company’s stock, valued at approximately $14,116,870.56. This represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 279,383 shares of company stock worth $92,912,517. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $336.64 on Friday. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34. The firm has a market capitalization of $4.91 trillion, a PE ratio of 38.61, a PEG ratio of 2.71 and a beta of 1.07. The business’s 50 day moving average is $322.61 and its 200-day moving average is $302.99. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. Apple’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share. Sell-side analysts predict that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Announces Dividend

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

Apple Profile

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.