Infusive Asset Management Inc. acquired a new position in Apple Inc. (NASDAQ:AAPL – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,011 shares of the iPhone maker’s stock, valued at approximately $9,647,000. Apple comprises about 4.7% of Infusive Asset Management Inc.’s portfolio, making the stock its 8th biggest position.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rainier Family Wealth Inc. grew its stake in Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after acquiring an additional 3,014 shares in the last quarter. Eaton Cambridge Inc. lifted its stake in 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 purchasing an additional 2,450 shares in the last quarter. Torren Management LLC bought a new position in Apple in the 4th quarter valued at $1,178,000. Summit Wealth Partners LLC boosted its holdings in Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after purchasing an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp purchased a new position in shares of Apple during the 4th quarter valued at $105,482,000. 67.73% of the stock is currently owned by institutional investors.
Insider Activity at Apple
In other news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company’s stock.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter in the prior year, the firm earned $1.57 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple’s dividend payout ratio is presently 12.39%.
Key Stories Impacting Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
- Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook’s Last Quarter as CEO Was Apple’s Best June Quarter Ever
- Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
- Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple’s Trade Secrets Lawsuit
- Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple’s Capex Strategy Worked But Other Pressures Are Mounting
- Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, July 31st. Weiss Ratings upgraded Apple from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Friday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 31st. Finally, DZ Bank downgraded Apple from a “buy” rating to a “hold” rating and set a $310.00 price target for the company. in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $330.44.
Read Our Latest Stock Analysis on AAPL
Apple Profile
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.
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