Apple Inc. $AAPL Shares Acquired by Vancity Investment Management Ltd

Vancity Investment Management Ltd grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,312 shares of the iPhone maker’s stock after buying an additional 10,525 shares during the period. Apple accounts for about 6.0% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 4th largest position. Vancity Investment Management Ltd’s holdings in Apple were worth $40,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sterling Wealth Management Inc. lifted its stake in Apple by 0.3% in the 2nd quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker’s stock worth $3,351,000 after purchasing an additional 30 shares in the last quarter. Evansbrook LLC grew its position in shares of Apple by 0.4% during the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock valued at $2,054,000 after purchasing an additional 34 shares in the last quarter. JMG Financial Group Ltd. grew its position in shares of Apple by 0.7% during the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock valued at $1,295,000 after purchasing an additional 35 shares in the last quarter. Advocate Investing Services LLC increased its holdings in shares of Apple by 0.5% in the second quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker’s stock worth $2,271,000 after purchasing an additional 39 shares during the last quarter. Finally, Sugar Maple Asset Management LLC lifted its position in shares of Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after buying an additional 40 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple News Summary

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 Activity

In related news, insider Timothy 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 transaction of $63,846,078.88. Following the transaction, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 completion of the sale, the senior vice president directly owned 41,992 shares of the company’s stock, valued at approximately $14,116,870.56. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 279,383 shares of company stock valued at $92,912,517. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $336.64 on Friday. 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 stock’s fifty day moving average is $322.61 and its 200 day moving average is $302.99. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34. 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 posted 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 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 analyst estimates of $109.04 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. Apple’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were paid a dividend of $0.27 per share. 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 payout ratio is currently 12.39%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAPL shares. Phillip Securities increased their price target on Apple from $290.00 to $300.00 and gave the company a “neutral” rating in a research note on Monday, September 14th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Friday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Thursday, October 1st. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a research report on Wednesday, September 9th. Finally, Barclays reissued an “underweight” rating and issued a $245.00 target price (down from $253.00) on shares of Apple in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $340.02.

Apple Company 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.