Apple Inc. $AAPL is Navigation Group LLC’s 9th Largest Position

Navigation Group LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 55,070 shares of the iPhone maker’s stock after selling 2,109 shares during the quarter. Apple makes up 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Reicon Wealth Advisors LLC grew its holdings in shares of Apple by 12.5% in the second quarter. Reicon Wealth Advisors LLC now owns 1,589 shares of the iPhone maker’s stock worth $460,000 after acquiring an additional 176 shares during the period. Darrow Company Inc. lifted its holdings in Apple by 3.6% in the second quarter. Darrow Company Inc. now owns 4,758 shares of the iPhone maker’s stock valued at $1,377,000 after acquiring an additional 167 shares during the period. Corrado Advisors LLC grew its stake in shares of Apple by 8.7% during the 2nd quarter. Corrado Advisors LLC now owns 4,714 shares of the iPhone maker’s stock valued at $1,364,000 after purchasing an additional 377 shares during the period. EMC Capital Management purchased a new stake in shares of Apple during the 2nd quarter valued at about $415,000. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of Apple by 1.6% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 590,605 shares of the iPhone maker’s stock valued at $170,897,000 after purchasing an additional 9,401 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 116 shares of the 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 completion of the sale, the insider 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 filing with the SEC, which is accessible through the SEC website. 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 the firm’s stock in a transaction dated Tuesday, September 1st. The shares were 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 in the company, valued at approximately $11,345,787.90. This represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,872 shares of company stock valued at $1,823,201 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $319.97 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1-year low of $225.95 and a 1-year high of $344.57. The company has a market capitalization of $4.67 trillion, a P/E ratio of 36.69, a P/E/G ratio of 2.84 and a beta of 1.08. The firm’s 50 day simple moving average is $315.65 and its two-hundred day simple moving average is $290.34.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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 business 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 company’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.57 earnings per share. Research analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors 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 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio is currently 12.39%.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Robert W. Baird raised their price objective on shares of Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Barclays reaffirmed an “underweight” rating and set a $245.00 target price (down from $253.00) on shares of Apple in a report on Friday, July 31st. China Renaissance downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $280.00 price target on the stock. in a research report on Tuesday, August 4th. Evercore reiterated an “outperform” rating on shares of Apple in a research note on Tuesday, August 25th. Finally, Maxim Group reissued a “buy” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.61.

Apple News Roundup

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 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.