Apple Inc. $AAPL is Westpac Banking Corp’s 2nd Largest Position

Westpac Banking Corp raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the 1st quarter, HoldingsChannel reports. The fund owned 365,000 shares of the iPhone maker’s stock after buying an additional 8,091 shares during the quarter. Apple accounts for approximately 6.4% of Westpac Banking Corp’s investment portfolio, making the stock its 2nd biggest holding. Westpac Banking Corp’s holdings in Apple were worth $92,633,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JMG Financial Group Ltd. grew its stake in shares of Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock worth $1,295,000 after purchasing an additional 35 shares during the last quarter. Reyes Financial Architecture Inc. boosted its position in shares of Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after buying an additional 37 shares during the period. Interactive Financial Advisors Inc. grew 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 valued at $286,000 after acquiring an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC grew its position in Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after purchasing an additional 40 shares in the last quarter. Finally, Orion Investment Co increased its stake in shares of Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after acquiring an additional 41 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple 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 completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 company insiders.

Apple Price Performance

NASDAQ AAPL opened at $313.33 on Friday. Apple Inc. has a fifty-two week low of $219.25 and a fifty-two week high of $344.57. The stock’s 50-day moving average is $309.45 and its two-hundred day moving average is $283.23. The firm has a market cap of $4.57 trillion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 2.68 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 (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) 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 net margin of 27.62% and a return on equity of 135.46%. Apple’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 EPS. On average, analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date 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 12.39%.

Analyst Ratings Changes

Several brokerages recently issued reports on AAPL. Monness Crespi & Hardt increased their price objective on Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. HSBC raised Apple from a “hold” rating to a “buy” rating and upped their target price for the stock from $260.00 to $366.00 in a research report on Thursday, July 16th. China Renaissance lowered Apple from a “buy” rating to a “hold” rating and set a $280.00 price target for the company. in a report on Tuesday. Robert W. Baird boosted their price target on Apple from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, DZ Bank downgraded Apple from a “buy” rating to a “hold” rating and set a $310.00 price objective on the stock. in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.44.

Key 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%

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.