Apple Inc. $AAPL Shares Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,977 shares of the iPhone maker’s stock after acquiring an additional 23,431 shares during the quarter. Apple makes up about 3.7% of Turtle Creek Wealth Advisors LLC’s investment portfolio, making the stock its 4th largest position. Turtle Creek Wealth Advisors LLC’s holdings in Apple were worth $69,706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Evansbrook LLC increased its stake in Apple by 0.4% in 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. raised its stake in Apple by 0.7% during the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock worth $1,295,000 after buying an additional 35 shares during the period. Reyes Financial Architecture Inc. lifted its holdings in 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 acquiring an additional 37 shares in the last quarter. Interactive Financial Advisors Inc. grew its stake in Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after acquiring an additional 40 shares during the period. Finally, Sugar Maple Asset Management LLC raised its position in shares of Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after purchasing an additional 40 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

AAPL traded down $5.57 during trading on Monday, hitting $314.13. 15,789,602 shares of the stock traded hands, compared to its average volume of 49,966,969. The business has a 50 day moving average price of $312.24 and a 200 day moving average price of $288.52. 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 twelve month low of $225.95 and a twelve month high of $344.57. The company has a market cap of $4.58 trillion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.74 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.Apple’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 EPS. Equities research analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal 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%.

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

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 31st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday, July 31st. KeyCorp restated an “underweight” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, July 28th. Wedbush reissued an “outperform” rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Finally, Royal Bank Of Canada set a $365.00 price objective on Apple in a research report on Wednesday, July 15th. One 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 company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $330.53.

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred 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 transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 37,229 shares in the company, valued at $11,576,357.55. This trade represents a 3.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.

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.