Robertson Stephens Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,365 shares of the iPhone maker’s stock after selling 8,957 shares during the quarter. Apple comprises about 3.9% of Robertson Stephens Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Robertson Stephens Wealth Management LLC’s holdings in Apple were worth $160,221,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Prospect Hill Management LLC bought a new position in Apple during the 2nd quarter valued at approximately $146,370,000. Focus Partners Advisor Solutions LLC bought a new stake in Apple in the second quarter worth $168,646,000. Wealthfront Advisers LLC bought a new stake in Apple in the second quarter worth $482,388,000. Satovsky Asset Management LLC purchased a new stake in shares of Apple in the second quarter worth $16,064,000. Finally, Gouws Capital LLC grew its stake in shares of Apple by 136.9% in the third quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker’s stock worth $12,490,000 after acquiring an additional 21,676 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Insider Activity
In other news, CEO John Ternus sold 25,412 shares of Apple stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the sale, the chief executive officer directly owned 59,567 shares in the company, valued at $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 that occurred on 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 transaction, the senior vice president owned 136,810 shares in the company, valued at approximately $45,615,190.20. This trade represents a 25.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 289,252 shares of company stock worth $96,301,063. 0.06% of the stock is owned by corporate insiders.
Trending Headlines about Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple acquired Ascension Labs, which operates as Ascend.io, gaining access to agentic artificial-intelligence talent and intellectual property. The deal supports Apple’s effort to strengthen its AI capabilities, although financial terms were not disclosed. Apple Acquires AI Firm Ascend.io Talent and Patents
- Positive Sentiment: Demand indicators remain supportive: the foldable iPhone Duo reportedly sold out quickly, orders are backed up, and Apple is positioned to benefit from strong iPhone, Mac and Services demand. Analysts including Bank of America and Goldman Sachs remain constructive, with BofA reiterating a Buy rating and a $370 price target. Analyst Reiterates Buy on Apple
- Positive Sentiment: The first touchscreen MacBook Pro, equipped with OLED displays and M5 Pro or M5 Max chips, expands Apple’s premium hardware lineup and could support a new product-cycle catalyst. Apple Shows First Touchscreen Laptops
- Neutral Sentiment: Apple’s earnings report is the immediate focus. Investors will look for evidence that revenue growth, Services momentum and AI investments can offset rising component costs and potentially slower holiday growth. Options activity suggests substantial volatility around the release. Apple November 2 Earnings Preview
- Negative Sentiment: AI-related demand has sharply increased flash-memory prices, raising concerns that Apple’s gross margin will come under pressure. Qualcomm also indicated that Apple-related revenue is declining faster than previously expected, reinforcing concerns about the pace of future iPhone growth. AI Has Made Flash Memory More Expensive
- Negative Sentiment: At roughly 40 times earnings and near its yearly high, Apple has limited room for an earnings or guidance disappointment. A senior vice president’s repeated stock sales and a South Korean fine related to app-market practices add modest additional caution. Apple Insider Selling
Apple Price Performance
Apple stock opened at $344.63 on Monday. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $351.73. The stock has a fifty day simple moving average of $333.04 and a two-hundred day simple moving average of $296.38. 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 firm has a market cap of $5.03 trillion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.74 and a beta of 1.07.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. Equities analysts predict that Apple Inc. will post 8.75 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on AAPL. China Renaissance downgraded Apple from a “buy” rating to a “hold” rating and reduced their price target for the company from $329.00 to $280.00 in a report on Tuesday, August 4th. Rosenblatt Securities reiterated a “neutral” rating and issued a $303.00 price target on shares of Apple in a research note on Thursday, September 10th. KeyCorp reissued an “underweight” rating on shares of Apple in a research report on Thursday, October 15th. Robert W. Baird increased their price objective on shares of Apple from $310.00 to $330.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Raymond James Financial restated a “market perform” rating 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-three have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $340.49.
Read Our Latest Report on AAPL
Apple Company Profile
Apple Inc designs, develops and sells consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware ecosystem.
Apple’s services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.
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