Apple Inc. $AAPL Shares Sold by Klingman & Associates LLC

by · The Markets Daily

Klingman & Associates LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 269,842 shares of the iPhone maker’s stock after selling 2,170 shares during the period. Apple makes up approximately 3.3% of Klingman & Associates LLC’s holdings, making the stock its 8th largest holding. Klingman & Associates LLC’s holdings in Apple were worth $68,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Modern Wealth Management LLC lifted its position in Apple by 4.5% during the first quarter. Modern Wealth Management LLC now owns 517,048 shares of the iPhone maker’s stock worth $132,173,000 after buying an additional 22,053 shares in the last quarter. Keebeck Wealth Management increased its stake in shares of Apple by 9.6% in the 1st quarter. Keebeck Wealth Management now owns 84,275 shares of the iPhone maker’s stock worth $21,388,000 after acquiring an additional 7,391 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Apple by 12.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 19,443,190 shares of the iPhone maker’s stock worth $4,934,487,000 after acquiring an additional 2,083,564 shares during the last quarter. Caxton Associates LLP raised its holdings in shares of Apple by 123.0% during the 1st quarter. Caxton Associates LLP now owns 517,598 shares of the iPhone maker’s stock worth $131,361,000 after acquiring an additional 285,529 shares during the period. Finally, Greenline Wealth Management LLC boosted its position in shares of Apple by 9.8% during the 1st quarter. Greenline Wealth Management LLC now owns 16,935 shares of the iPhone maker’s stock valued at $4,298,000 after acquiring an additional 1,518 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AAPL shares. Wells Fargo & Company reissued an “overweight” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a report on Friday, July 31st. China Renaissance lowered shares of Apple from a “buy” rating to a “hold” rating and set a $280.00 target price on the stock. in a report on Tuesday, August 4th. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating in a research note on Monday, August 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $360.00 price target (down from $370.00) on shares of Apple in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.44.

Check Out Our Latest Analysis on AAPL

Apple Stock Performance

Shares of AAPL stock opened at $313.33 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm 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 firm’s 50 day moving average price is $309.45 and its 200-day moving average price is $283.42. Apple Inc. has a one year low of $219.25 and a one year high of $344.57.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion during 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 firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.57 EPS. As a group, equities research analysts predict that Apple Inc. will post 8.76 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s payout ratio is presently 12.39%.

Apple News Summary

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%

Insider Activity

In related news, insider Ben Borders sold 116 shares of the business’s 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 sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

(Free Report)

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.

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