Navigation Group LLC Has $15.94 Million Holdings in Apple Inc. $AAPL

Navigation Group LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,070 shares of the iPhone maker’s stock after selling 2,109 shares during the quarter. Apple accounts for about 3.1% of Navigation Group LLC’s holdings, making the stock its 9th largest holding. Navigation Group LLC’s holdings in Apple were worth $15,935,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AAPL. Rainier Family Wealth Inc. boosted its holdings in shares of Apple by 14.1% during the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after buying an additional 3,014 shares in the last quarter. Eaton Cambridge Inc. grew its position in shares of Apple by 21.3% in the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker’s stock worth $3,545,000 after buying an additional 2,450 shares during the period. Torren Management LLC bought a new position in shares of Apple in the 4th quarter worth about $1,178,000. Summit Wealth Partners LLC increased its stake in shares of Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after acquiring an additional 18,188 shares in the last quarter. Finally, Davis R M Inc. lifted its position in Apple by 2.1% during the 1st quarter. Davis R M Inc. now owns 1,151,352 shares of the iPhone maker’s stock valued at $292,202,000 after acquiring an additional 23,162 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Trending Headlines about Apple

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 Trading Down 2.5%

NASDAQ:AAPL 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. Apple Inc. has a 52 week low of $225.95 and a 52 week high of $344.57. 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 stock has a market cap of $4.67 trillion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.84 and a beta of 1.08.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. On average, equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AAPL shares. Piper Sandler started coverage on shares of Apple in a research note on Monday, August 17th. They set an “overweight” rating on the stock. Bank of America reaffirmed a “buy” rating and set a $380.00 target price on shares of Apple in a research note on Thursday, June 18th. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday, June 22nd. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. cut their price target on Apple from $345.00 to $340.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. One investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $330.61.

Insiders Place Their Bets

In other news, SVP Jennifer Newstead sold 1,439 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total value of $456,177.39. Following the completion of the transaction, the senior vice president owned 35,790 shares in the company, valued at $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ben Borders sold 116 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% 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. In the last three months, insiders sold 5,872 shares of company stock valued at $1,823,201. Corporate insiders own 0.06% of the company’s stock.

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.