Apple Inc. $AAPL Shares Purchased by Longbow Finance SA

Longbow Finance SA raised its position in Apple Inc. (NASDAQ:AAPL) by 17.0% during the second quarter, Holdings Channel reports. The firm owned 186,711 shares of the iPhone maker’s stock after buying an additional 27,087 shares during the quarter. Apple comprises 6.9% of Longbow Finance SA’s portfolio, making the stock its 2nd largest holding. Longbow Finance SA’s holdings in Apple were worth $54,027,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. First National Bank of Hutchinson lifted its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC grew 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 acquiring an additional 272 shares in the last quarter. Brighton Jones LLC increased its stake in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC increased its stake in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 2.5%

AAPL stock opened at $319.97 on Friday. The company’s 50 day moving average price is $315.65 and its 200 day moving average price is $290.34. The firm has a market capitalization of $4.67 trillion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.77 and a beta of 1.08. Apple Inc. has a fifty-two week low of $225.95 and a fifty-two week high of $344.57. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were 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 was Monday, August 10th. Apple’s payout ratio is 12.39%.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, September 1st. The stock was sold at an average price of $317.01, for a total value of $456,177.39. Following the sale, the senior vice president directly owned 35,790 shares of the company’s stock, valued at $11,345,787.90. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 5,872 shares of company stock valued at $1,823,201. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. Weiss Ratings upgraded shares of Apple from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. HSBC upgraded shares of Apple from a “hold” rating to a “buy” rating and increased their target price for the stock from $260.00 to $366.00 in a report on Thursday, July 16th. Citigroup reissued a “buy” rating and issued a $365.00 price target (up from $315.00) on shares of Apple in a research report on Monday, July 13th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $285.56 to $263.66 in a research note on Monday, August 10th. Finally, Rothschild & Co Redburn set a $400.00 price objective on Apple and gave the stock a “buy” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $330.61.

Key Apple News

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

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.