Krilogy Financial LLC Sells 7,119 Shares of Apple Inc. $AAPL

Krilogy Financial LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,373 shares of the iPhone maker’s stock after selling 7,119 shares during the quarter. Apple makes up 2.1% of Krilogy Financial LLC’s portfolio, making the stock its 10th biggest position. Krilogy Financial LLC’s holdings in Apple were worth $70,133,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. MontVue Capital Management Inc. grew its stake in shares of Apple by 74.3% during the second quarter. MontVue Capital Management Inc. now owns 4,474 shares of the iPhone maker’s stock worth $1,295,000 after purchasing an additional 1,907 shares during the period. Generate Investment Management Ltd lifted its holdings in Apple by 2.8% during the second quarter. Generate Investment Management Ltd now owns 420,426 shares of the iPhone maker’s stock worth $121,654,000 after acquiring an additional 11,383 shares in the last quarter. Valley Brook Capital Group Inc. increased its holdings in shares of Apple by 1.2% in the second quarter. Valley Brook Capital Group Inc. now owns 43,403 shares of the iPhone maker’s stock worth $12,559,000 after acquiring an additional 495 shares in the last quarter. Independent Wealth Advisors LLC lifted its holdings in shares of Apple by 3.0% during the 2nd quarter. Independent Wealth Advisors LLC now owns 4,574 shares of the iPhone maker’s stock valued at $1,324,000 after purchasing an additional 132 shares in the last quarter. Finally, Ascentis Wealth Management LLC increased its stake in Apple by 27,622.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 8,788,371 shares of the iPhone maker’s stock worth $2,543,003,000 after purchasing an additional 8,756,670 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

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 stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total transaction of $447,457.05. Following the sale, the senior vice president directly owned 37,229 shares of the company’s stock, valued at $11,576,357.55. This represents a 3.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,433 shares of company stock valued at $1,367,024. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock traded down $5.57 during mid-day trading on Monday, reaching $314.13. 15,789,602 shares of the company were exchanged, compared to its average volume of 49,966,969. The company has a fifty day simple moving average of $312.24 and a 200-day simple moving average of $288.52. The firm has a market cap of $4.58 trillion, a PE ratio of 36.02, a PEG ratio of 2.74 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 Inc. has a 12 month low of $225.95 and a 12 month high of $344.57.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating 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 firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter last year, the business posted $1.57 EPS. The company’s revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AAPL shares. Evercore reaffirmed an “outperform” rating on shares of Apple in a research report on Tuesday, August 25th. DZ Bank downgraded Apple from a “buy” rating to a “hold” rating and set a $310.00 price target for the company. in a research report on Tuesday, August 4th. Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating in a research report on Monday, August 3rd. Barclays restated an “underweight” rating and set a $245.00 price objective (down from $253.00) on shares of Apple in a research note on Friday, July 31st. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $330.53.

Key Stories Impacting Apple

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

Apple 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.