Legacy PCG LLC Has $552,000 Position in Apple Inc. $AAPL

Legacy PCG LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 88.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,174 shares of the iPhone maker’s stock after selling 17,263 shares during the period. Apple makes up approximately 3.0% of Legacy PCG LLC’s holdings, making the stock its 8th biggest position. Legacy PCG LLC’s holdings in Apple were worth $552,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Apple by 1.9% during the fourth 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. State Street Corp increased its stake in Apple by 1.1% in the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after purchasing an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC raised its holdings in Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after buying an additional 1,866,103 shares during the period. Morgan Stanley lifted its stake in Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after buying an additional 1,379,651 shares in the last quarter. Finally, Norges Bank purchased a new stake in Apple during the fourth quarter valued at about $52,266,468,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the business’s 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 of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 1.6%

Apple stock opened at $308.26 on Tuesday. The firm’s fifty day simple moving average is $309.49 and its 200-day simple moving average is $283.86. Apple Inc. has a 1-year low of $223.78 and a 1-year high of $344.57. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.50 trillion, a P/E ratio of 35.35, a P/E/G ratio of 2.68 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be paid 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 yield of 0.4%. Apple’s payout ratio is currently 12.39%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AAPL shares. China Renaissance downgraded shares of 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, August 4th. Barclays restated an “underweight” rating and issued a $245.00 price target (down from $253.00) on shares of Apple in a research report on Friday, July 31st. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating in a research report on Monday, August 3rd. Royal Bank Of Canada set a $365.00 target price on shares of Apple in a research note on Wednesday, July 15th. Finally, DZ Bank lowered Apple from a “buy” rating to a “hold” rating and set a $310.00 target price for the company. in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $328.60.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is testing memory chips from China’s CXMT for some iPhones and MacBooks sold in China. If approved by U.S. authorities, the move could provide an additional supply source and help mitigate shortages caused by surging AI-related demand. Apple tests China’s CXMT memory chips
• Positive Sentiment: Some Apple-focused investors, including Deepwater Asset Management’s Gene Munster, argue that the shares remain undervalued and that future iPhone price increases, artificial-intelligence features and a potential upgrade cycle could support longer-term growth. Gene Munster disagrees with Apple downgrade
• Neutral Sentiment: Apple is scheduled to pay a quarterly dividend of $0.27 per share on August 13 to eligible shareholders, providing a modest near-term shareholder return. Apple dividend payment
• Negative Sentiment: Jefferies downgraded Apple from Hold to Underperform and cut its price target to $263.66 from $285.56. Analyst Edison Lee reportedly believes Apple has scrapped a planned all-glass iPhone because of production challenges, removing a potential premium product that could have lifted average selling prices and profitability. Apple could underperform without an all-glass iPhone
• Negative Sentiment: Memory and storage costs are rising sharply amid the AI-driven supply crunch; reports suggest iPhone 18 production costs could increase by roughly 38%. Apple may need to raise prices, risking weaker demand, or absorb the costs, pressuring margins. Apple’s iPhone 18 costs could jump 38%
• Negative Sentiment: The CXMT testing also introduces geopolitical and execution risks: U.S. restrictions could limit Apple’s access to the supplier, while CXMT’s capacity and technology may lag established memory manufacturers. These issues add uncertainty to Apple’s supply chain and pricing strategy.

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.