Wavvest Wealth LLC Purchases 4,891 Shares of Apple Inc. $AAPL

Wavvest Wealth LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,891 shares of the iPhone maker’s stock, valued at approximately $1,629,000. Apple accounts for about 1.3% of Wavvest Wealth LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors have also made changes to their positions in the stock. Prospect Hill Management LLC bought a new position in shares of Apple during the second quarter worth $146,370,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Apple in the 2nd quarter valued at $168,646,000. Wealthfront Advisers LLC bought a new stake in shares of Apple in the 2nd quarter valued at $482,388,000. Satovsky Asset Management LLC acquired a new stake in Apple during the 2nd quarter worth $16,064,000. Finally, Gouws Capital LLC raised its stake in Apple by 136.9% during the 3rd quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker’s stock worth $12,490,000 after buying an additional 21,676 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue estimates, with solid iPhone and Mac demand. Apple also says more apps optimized for its new foldable iPhone are coming, potentially improving the product’s appeal. Apple earnings beat
• Positive Sentiment: Apple has held up better than many chipmakers amid the AI-stock sell-off, and Bernstein raised its price target to $380 while maintaining a Buy rating. This relative strength may support investor sentiment. Apple holds up amid market weakness
• Neutral Sentiment: Apple is reportedly seeking about $7.5 billion through a bond offering. The financing provides flexibility, though the reports do not specify its use. The company is also limiting some employees’ AI-tool budgets, a move that could help control costs but raises questions about its internal AI investment. Apple bond sale report
• Negative Sentiment: Management warned of unprecedented memory-chip costs and supply constraints heading into the holiday quarter, putting gross margins at risk despite healthy demand. Investors are also weighing slower Services growth and Apple’s premium valuation. Memory costs and supply constraints

Insider Buying and Selling

In related news, CEO John Ternus sold 25,412 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the transaction, the chief executive officer directly owned 59,567 shares of the company’s stock, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O’brien sold 46,389 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at approximately $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 291,651 shares of company stock valued at $97,082,537 in the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on AAPL shares. Piper Sandler began coverage on Apple in a report on Monday, August 17th. They set an “overweight” rating on the stock. Seaport Research Partners downgraded Apple from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Citic Securities upped their price objective on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $370.00 to $330.00 in a report on Tuesday, October 20th. Finally, Robert W. Baird set a $340.00 price objective on Apple and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $343.74.

Apple Stock Performance

Shares of AAPL opened at $342.37 on Monday. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The firm has a fifty day simple moving average of $336.01 and a 200 day simple moving average of $298.50. The stock has a market capitalization of $4.98 trillion, a price-to-earnings ratio of 38.17, a PEG ratio of 3.22 and a beta of 1.07. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61.

Apple (NASDAQ:AAPL) last released its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 9.68 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple’s dividend payout ratio is currently 12.04%.

Apple 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.