Apple Inc. $AAPL Stock: Seamount Financial Group Inc. Lowers Stake

Seamount Financial Group Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 4.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 52,525 shares of the iPhone maker’s stock after selling 2,678 shares during the period. Apple accounts for 6.8% of Seamount Financial Group Inc.’s holdings, making the stock its biggest holding. Seamount Financial Group Inc.’s holdings in Apple were worth $17,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Avenir Tech Ltd acquired a new stake in shares of Apple in the 2nd quarter worth about $29,000. Longfellow Investment Management Co. LLC acquired a new stake in Apple in the second quarter worth approximately $30,000. Ironwood Wealth Management Inc. bought a new position in Apple during the 3rd quarter valued at $34,000. Ascentis Wealth Management LLC increased its position in shares of Apple by 822.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock valued at $85,000 after purchasing an additional 260,792 shares during the period. Finally, Bamco Inc. NY acquired a new position in Apple during the second quarter worth about $118,000. 67.73% of the stock is currently owned by institutional investors.

Trending Headlines about Apple

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

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Bank of America reissued a “buy” rating and set a $370.00 target price on shares of Apple in a research note on Wednesday, September 23rd. HSBC restated a “buy” rating on shares of Apple in a report on Tuesday, October 27th. Robert W. Baird set a $340.00 target price on shares of Apple and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Thursday, September 10th. Finally, BTIG Research initiated coverage on shares of Apple in a report on Monday, August 17th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $343.74.

Insider Activity at Apple

In other news, insider Timothy Cook sold 191,753 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the transaction, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the sale, the senior vice president directly owned 39,593 shares in the company, valued at $13,145,271.93. This trade represents a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 290,212 shares of company stock valued at $96,639,685. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $350.69 on Tuesday. The stock has a market capitalization of $5.10 trillion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 3.30 and a beta of 1.07. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $355.38. The firm’s 50-day moving average price is $336.63 and its two-hundred day moving average price is $299.02. The company has a current ratio of 1.02, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61.

Apple (NASDAQ:AAPL) last released its quarterly 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 return on equity of 125.35% and a net margin of 27.60%. The firm had revenue of $114.48 billion during the quarter, compared to analysts’ expectations of $113.40 billion. During the same period last year, the firm posted $1.85 EPS. The business’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 9.68 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.