Apple Inc. $AAPL Stock Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 368,273 shares of the iPhone maker’s stock after selling 43,235 shares during the quarter. Apple accounts for about 6.3% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its biggest holding. Smith Chas P & Associates PA Cpas’ holdings in Apple were worth $126,487,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Berkshire Hathaway Inc purchased a new position in Apple in the second quarter valued at $65,950,297,000. Bank of America Corp DE purchased a new stake in shares of Apple during the second quarter worth approximately $36,986,090,000. Legal & General Group Plc acquired a new position in Apple during the 2nd quarter worth approximately $30,443,242,000. Deutsche Bank AG acquired a new position in Apple during the 2nd quarter worth approximately $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $10,588,946,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 2.4%

AAPL stock opened at $350.69 on Tuesday. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.93. The company has a market cap of $5.10 trillion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07. The company has a fifty day moving average price of $336.63 and a 200 day moving average price of $299.02.

Apple (NASDAQ:AAPL) last announced its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.11. Apple had a net margin of 27.60% and a return on equity of 125.35%. The business had revenue of $114.48 billion during the quarter, compared to the consensus estimate of $113.40 billion. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 9.68 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple’s dividend payout ratio is 12.04%.

Insider Activity

In related news, SVP Deirdre O’brien sold 46,389 shares of Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ben Borders sold 1,280 shares of the company’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $345.40, for a total transaction of $442,112.00. Following the transaction, the insider owned 38,288 shares of the company’s stock, valued at approximately $13,224,675.20. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 290,212 shares of company stock valued at $96,639,685. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. TD Cowen dropped their target price on Apple from $400.00 to $390.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Argus upped their price target on Apple from $375.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Robert W. Baird set a $340.00 price objective on shares of Apple and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. Raymond James Financial restated a “market perform” rating on shares of Apple in a report on Tuesday, November 3rd. Finally, China Renaissance lowered shares of Apple from a “buy” rating to a “hold” rating and cut their price target for the stock from $329.00 to $280.00 in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.74.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported quarterly revenue of $114.48 billion and EPS of $2.10, topping estimates, with double-digit growth in hardware and services. Article
• Positive Sentiment: Apple Intelligence cleared a Chinese regulatory step for use on tablets and laptops, potentially expanding the service’s reach in a major market. Article
• Positive Sentiment: Apple has begun offering $49.99 add-on packs for extra AI usage in Creator Studio, a potential new revenue stream from its AI features. Article
• Positive Sentiment: Commentary points to resilient iPhone demand and Apple’s comparatively restrained AI spending as advantages amid investor concerns about heavy AI investment elsewhere. Article
• Neutral Sentiment: Apple issued $7.5 billion in senior unsecured notes. The financing provides capital but also adds debt; the announcement does not specify a direct operating catalyst. Article
• Negative Sentiment: Reports warn that rising memory-chip costs could pressure margins, while some analysts question whether Apple’s valuation leaves limited room for further gains. Article

Apple Company Profile

Apple Inc designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS.

The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple’s devices and are sold to consumers, businesses and institutions around the world.

Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.