Tortuga Wealth Management Inc Buys Shares of 28,653 Apple Inc. $AAPL

Tortuga Wealth Management Inc bought a new position in Apple Inc. (NASDAQ:AAPL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,653 shares of the iPhone maker’s stock, valued at approximately $8,291,000. Apple makes up approximately 6.3% of Tortuga Wealth Management Inc’s investment portfolio, making the stock its 3rd biggest position.

Several other hedge funds have also modified their holdings of the company. Aviance Capital Partners LLC boosted its holdings in shares of Apple by 0.4% in the 2nd quarter. Aviance Capital Partners LLC now owns 261,608 shares of the iPhone maker’s stock valued at $75,699,000 after buying an additional 1,031 shares in the last quarter. Worth Financial Advisory Group LLC grew its position in shares of Apple by 4,794.3% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 28,583 shares of the iPhone maker’s stock worth $8,271,000 after buying an additional 27,999 shares during the last quarter. Drum Hill Capital LLC raised its stake in shares of Apple by 3.0% during the 2nd quarter. Drum Hill Capital LLC now owns 3,558 shares of the iPhone maker’s stock worth $1,030,000 after acquiring an additional 103 shares in the last quarter. REDW Wealth LLC raised its stake in shares of Apple by 7.3% during the 2nd quarter. REDW Wealth LLC now owns 11,781 shares of the iPhone maker’s stock worth $3,409,000 after acquiring an additional 802 shares in the last quarter. Finally, Collaborative Fund Advisors LLC lifted its position in Apple by 34.1% during the second quarter. Collaborative Fund Advisors LLC now owns 20,274 shares of the iPhone maker’s stock valued at $5,866,000 after acquiring an additional 5,158 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AAPL shares. KeyCorp restated an “underweight” rating on shares of Apple in a research note on Friday. China Renaissance downgraded Apple from a “buy” rating to a “hold” rating and set a $280.00 price target on the stock. in a research report on Tuesday, August 4th. TD Cowen increased their price objective on Apple from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, July 31st. Evercore reissued an “outperform” rating on shares of Apple in a research report on Tuesday, August 25th. Finally, Piper Sandler began coverage on Apple in a research note on Monday, August 17th. They set an “overweight” rating on the stock. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $331.53.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is expected to introduce its first foldable iPhone, alongside the iPhone 18 Pro and Pro Max. Morgan Stanley estimates the foldable could ship about 6.5 million units in the December quarter and generate approximately $14 billion in revenue, creating a potentially significant new growth category. Apple’s foldable iPhone could add $14 billion
• Positive Sentiment: Bank of America maintained a Buy rating and a $380 price target, anticipating a roughly $2,099 foldable model and higher prices for the iPhone 18 Pro lineup. Premium pricing could support revenue and margins if demand holds. Apple’s Wednesday event and Bank of America’s price target
• Positive Sentiment: Apple’s acquisition of Sonera Magnetics, a company developing non-invasive neural-signal sensors, could strengthen its long-term health, wearable and human-computer-interface ambitions. The deal was completed in May but became public through a European Commission notice. Apple Purchases Neural Signal Sensor Company Sonera
• Neutral Sentiment: The launch is also the first major keynote for new CEO John Ternus. Investors will look for evidence that his leadership can accelerate hardware innovation while addressing Apple’s perceived artificial-intelligence shortcomings. Apple’s New CEO Has a Hardware Event and an AI Problem
• Neutral Sentiment: Historical analysis suggests Apple stock often has a muted or mixed reaction after major iPhone reveals, increasing the risk that strong results are already reflected in the valuation. Berkshire Hathaway’s continued large Apple position provides a supportive long-term signal but is not a near-term catalyst. How Apple stock usually reacts to big iPhone reveal events
• Negative Sentiment: AI data-center demand is diverting premium memory capacity away from smartphone components, potentially raising Apple’s costs and pressuring iPhone margins. AI diverts memory from phones
• Negative Sentiment: Huawei and Xiaomi have launched premium foldables ahead of Apple, raising competitive pressure—particularly in China. Analysts also warn that the stock could experience a “sell-the-news” reaction because expectations and valuation are high. Huawei launches a tri-fold smartphone ahead of Apple

Apple Trading Down 1.2%

Apple stock opened at $316.22 on Wednesday. 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 52 week low of $225.95 and a 52 week high of $344.57. The company has a market capitalization of $4.61 trillion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 2.77 and a beta of 1.08. The stock has a 50-day moving average price of $316.95 and a 200 day moving average price of $291.35.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the prior year, the company earned $1.57 EPS. Apple’s quarterly revenue was up 16.4% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The shares were 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 $11,425,754.82. This represents 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 firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the transaction, the senior vice president directly owned 35,790 shares of the company’s stock, valued at approximately $11,345,787.90. This trade represents a 3.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,872 shares of company stock worth $1,823,201 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company’s ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.