Apple Inc. $AAPL is Peninsula Asset Management Inc.’s 2nd Largest Position

Peninsula Asset Management Inc. increased its stake in Apple Inc. (NASDAQ:AAPL) by 14.7% during the 1st quarter, Holdings Channel reports. The firm owned 52,606 shares of the iPhone maker’s stock after purchasing an additional 6,755 shares during the quarter. Apple comprises approximately 6.8% of Peninsula Asset Management Inc.’s portfolio, making the stock its 2nd biggest holding. Peninsula Asset Management Inc.’s holdings in Apple were worth $13,351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Apple during the 4th quarter valued at $52,266,468,000. Nuveen LLC purchased a new position in Apple in the first quarter worth $17,472,482,000. Cardano Risk Management B.V. increased its stake in Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after acquiring an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 1.4%

Shares of NASDAQ:AAPL opened at $333.43 on Friday. The stock’s 50-day moving average price is $309.51 and its 200-day moving average price is $281.25. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $344.57. The stock has a market capitalization of $4.90 trillion, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 2.92 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s payout ratio is 13.06%.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company’s stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of approximately $109.4 billion, up 16% year over year, while diluted EPS of $2.02 rose 29% and exceeded Wall Street expectations. Strong iPhone and Mac sales drove the results. Apple reports third quarter results
• Positive Sentiment: The company said its active installed base reached an all-time high, and iPhone, Mac and Services each posted June-quarter revenue records. Apple also declared a quarterly dividend of $0.27 per share. Apple Q3 revenue rises
• Neutral Sentiment: Apple indicated that a revamped Siri could eventually become a paid service for heavy users, offering a potential long-term monetization opportunity as the company expands its consumer-AI strategy. Tim Cook says Apple may charge for AI Siri
• Neutral Sentiment: Thursday marked Tim Cook’s final earnings call as CEO before he steps down in September, adding leadership-transition uncertainty despite incoming CEO John Ternus’s expected continuity.
• Negative Sentiment: Apple’s fiscal fourth-quarter revenue outlook of $111.7 billion to $113.7 billion was below the roughly $114.3 billion consensus estimate. The cautious forecast is a key reason the stock has decreased despite the quarterly beat.
• Negative Sentiment: The generative-AI hardware boom is driving severe memory and component shortages. Apple is stockpiling inventory, but CEO Tim Cook warned that the impact of higher memory prices will worsen, pressuring product margins and potentially requiring further price increases. The quarter’s 50.1% gross margin benefited by about two percentage points from tariff refunds, a benefit that may not recur. Apple stockpiles inventory
• Negative Sentiment: Services revenue missed expectations, with Apple citing a slowdown in gaming and the effects of App Store changes. Weaker-than-expected China performance also raised concerns about regional demand and competition.
• Negative Sentiment: With Apple valued near $5 trillion and trading at roughly 40 times earnings, investors had set very high expectations. That premium leaves less room for disappointment in growth, margins or guidance. Apple forecasts slower growth

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Evercore reaffirmed an “outperform” rating on shares of Apple in a research note on Wednesday, July 8th. UBS Group set a $365.00 price objective on Apple in a report on Tuesday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. Robert W. Baird upped their target price on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Morgan Stanley set a $364.00 price target on shares of Apple and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $327.40.

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.