Summitas Investment Management LLC Buys Shares of 7,066 Apple Inc. $AAPL

Summitas Investment Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,066 shares of the iPhone maker’s stock, valued at approximately $1,793,000. Apple accounts for approximately 1.4% of Summitas Investment Management LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other large investors also recently modified their holdings of AAPL. Norges Bank bought a new position in Apple in the fourth quarter worth about $52,266,468,000. Nuveen LLC acquired a new position in Apple in the first quarter valued at approximately $17,472,482,000. Cardano Risk Management B.V. grew its holdings in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. 67.73% of the stock is currently owned by institutional investors.

More Apple News

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%

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AAPL shares. Rosenblatt Securities raised their price target on Apple from $276.00 to $300.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. China Renaissance lowered Apple from a “buy” rating to a “hold” rating and set a $280.00 target price on the stock. in a research report on Tuesday. Evercore reaffirmed an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. TD Cowen raised their target price on Apple from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Maxim Group reissued a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $330.44.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were 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 of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.3%

AAPL opened at $313.33 on Friday. Apple Inc. has a 12 month low of $219.25 and a 12 month high of $344.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market cap of $4.57 trillion, a P/E ratio of 35.93, a P/E/G ratio of 2.68 and a beta of 1.09. The stock’s 50 day moving average price is $309.45 and its 200 day moving average price is $283.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be paid a dividend of $0.27 per share. 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 payout ratio is currently 12.39%.

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.