Lederer & Associates Investment Counsel CA Has $13.23 Million Stock Holdings in Apple Inc. $AAPL

Lederer & Associates Investment Counsel CA decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,733 shares of the iPhone maker’s stock after selling 2,489 shares during the period. Apple accounts for 8.7% of Lederer & Associates Investment Counsel CA’s portfolio, making the stock its largest position. Lederer & Associates Investment Counsel CA’s holdings in Apple were worth $13,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Rainier Family Wealth Inc. raised its position 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 purchasing an additional 3,014 shares during the period. Eaton Cambridge Inc. increased its holdings in Apple by 21.3% in the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker’s stock valued at $3,545,000 after acquiring an additional 2,450 shares during the last quarter. Torren Management LLC bought a new stake in Apple in the 4th quarter valued at $1,178,000. Summit Wealth Partners LLC increased 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 acquiring an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in Apple in the 4th quarter valued at $105,482,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 1.9%

Shares of NASDAQ AAPL traded down $6.07 during trading hours on Monday, hitting $313.63. 15,356,139 shares of the stock were exchanged, compared to its average volume of 49,963,801. The firm has a fifty day moving average price of $312.24 and a 200-day moving average price of $288.52. The company has a market cap of $4.58 trillion, a PE ratio of 35.97, a PEG ratio of 2.74 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12 month low of $225.95 and a 12 month high of $344.57.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 EPS. On average, sell-side analysts expect that Apple Inc. will post 8.76 EPS 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 issued 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 yield of 0.3%. Apple’s dividend payout ratio is 12.39%.

Analyst Ratings Changes

A number of brokerages have issued reports on AAPL. Evercore reiterated an “outperform” rating on shares of Apple in a report on Tuesday, August 25th. The Goldman Sachs Group began coverage on shares of Apple in a report on Monday, August 17th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reduced their target price on shares of Apple from $345.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Monday, June 22nd. Finally, Piper Sandler assumed coverage on shares of Apple in a research note on Monday, August 17th. They set an “overweight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $330.53.

Insiders Place Their Bets

In related news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total transaction of $447,457.05. Following the sale, the senior vice president directly owned 37,229 shares of the company’s stock, valued at approximately $11,576,357.55. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 4,433 shares of company stock worth $1,367,024 over the last three months. 0.06% of the stock is currently owned by insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Orderly CEO succession: Tim Cook is leaving the CEO role after 15 years but will remain Apple’s executive chairman. Cook strongly endorsed successor John Ternus, a longtime hardware leader, potentially reducing fears of an abrupt management break. Tim Cook’s parting message: Apple is in the hands of a product builder
• Positive Sentiment: Product catalysts ahead: Apple’s first major product event under Ternus is expected September 9, with reports pointing to new iPhones and a possible foldable model. Strong iPhone demand, potential iOS market-share gains and rising interest in Mac hardware for AI workloads could support future revenue. Apple Valuation Nears $5T as John Ternus Steps Up as New CEO
• Neutral Sentiment: Strong track record and support: Cook’s tenure produced substantial shareholder gains, while Apple’s latest quarter delivered revenue growth and an earnings beat. Analysts’ median price target remains above the current quotation, although the stock’s elevated valuation leaves less room for disappointment.
• Negative Sentiment: AI strategy concerns: Ternus inherits an artificial-intelligence strategy that relies heavily on outside partners, leaving Apple behind leading rivals in some areas. Investors will look for evidence that the new CEO can accelerate AI-powered Siri and on-device capabilities. Apple’s New CEO Inherits an AI Strategy Built on Outsiders
• Negative Sentiment: Execution and valuation risks: Commentators warn that App Store pressure, supply-chain challenges, potential memory-cost inflation and a trailing P/E near 37 make Apple vulnerable if the September launch disappoints. Apple TV+’s latest price increase could also slow subscriber growth. Apple Is Facing One of Its Most Challenging Times in a Decade

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.