Richmond Investment Services LLC Has $3.17 Million Stock Position in Apple Inc. $AAPL

Richmond Investment Services LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 53.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,968 shares of the iPhone maker’s stock after selling 12,521 shares during the quarter. Apple makes up about 1.0% of Richmond Investment Services LLC’s investment portfolio, making the stock its 20th largest position. Richmond Investment Services LLC’s holdings in Apple were worth $3,174,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Evansbrook LLC raised its holdings in Apple by 0.4% in the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock worth $2,054,000 after purchasing an additional 34 shares during the period. JMG Financial Group Ltd. grew its stake in Apple by 0.7% in the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock valued at $1,295,000 after acquiring an additional 35 shares during the period. Reyes Financial Architecture Inc. raised its position in shares of Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after purchasing an additional 37 shares during the period. Interactive Financial Advisors Inc. increased its stake in Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after purchasing an additional 40 shares in the last quarter. Finally, Sugar Maple Asset Management LLC raised its holdings in Apple by 2.0% during the 1st 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 during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ:AAPL traded down $5.57 during trading hours on Monday, reaching $314.13. 15,789,602 shares of the company were exchanged, compared to its average volume of 49,966,969. The business has a 50 day moving average of $312.24 and a 200 day moving average of $288.52. The company has a market capitalization of $4.58 trillion, a P/E ratio of 36.02, a P/E/G ratio of 2.74 and a beta of 1.09. 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.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 EPS. Research analysts forecast that Apple Inc. will post 8.76 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 12.39%.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction 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. Also, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $310.95, for a total transaction of $447,457.05. Following the sale, the senior vice president owned 37,229 shares of the company’s stock, valued at approximately $11,576,357.55. This trade represents a 3.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,433 shares of company stock worth $1,367,024. 0.06% of the stock is owned by company insiders.

Trending Headlines about Apple

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AAPL shares. Evercore reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday, August 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research note on Friday, July 31st. Royal Bank Of Canada set a $365.00 target price on Apple in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. cut their price objective on Apple from $345.00 to $340.00 and set an “overweight” rating for the company in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $330.53.

Apple Company 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.