Apple Inc. $AAPL Stock Acquired by Parkside Investments LLC

Parkside Investments LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 12.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,356 shares of the iPhone maker’s stock after purchasing an additional 7,084 shares during the period. Apple accounts for 2.5% of Parkside Investments LLC’s portfolio, making the stock its 7th largest position. Parkside Investments LLC’s holdings in Apple were worth $21,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of AAPL. State Street Corp increased its stake in shares of Apple by 4.7% in the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker’s stock valued at $182,897,769,000 after buying an additional 28,321,085 shares during the period. Berkshire Hathaway Inc acquired a new position in shares of Apple during the second quarter valued at $65,950,297,000. Bank of America Corp DE acquired a new position in shares of Apple during the second quarter valued at $36,986,090,000. Legal & General Group Plc bought a new position in Apple in the second quarter valued at about $30,443,242,000. Finally, Amundi boosted its holdings in Apple by 23.2% in the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker’s stock valued at $18,547,637,000 after acquiring an additional 13,780,080 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Key Apple News

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

Apple Stock Performance

AAPL stock opened at $342.37 on Friday. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $355.38. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.98 trillion, a P/E ratio of 38.17, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The business’s fifty day moving average is $336.01 and its 200-day moving average is $298.50.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The business had revenue of $114.48 billion during the quarter, compared to analysts’ expectations of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 earnings per share. Equities research analysts forecast that Apple Inc. will post 9.68 EPS for the current 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 issued a dividend of $0.27 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s dividend payout ratio (DPR) is 12.04%.

Analysts Set New Price Targets

A number of analysts recently commented on AAPL shares. BTIG Research assumed coverage on Apple in a research report on Monday, August 17th. They issued a “neutral” rating for the company. Maxim Group upped their target price on shares of Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Seaport Research Partners downgraded shares of Apple from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. DA Davidson raised their target price on shares of Apple from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Finally, Weiss Ratings upgraded shares of Apple from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $343.74.

Get Our Latest Analysis on AAPL

Insider Buying and Selling

In other news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the transaction, the senior vice president directly owned 41,992 shares in the company, valued at approximately $14,116,870.56. The trade was a 5.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy Cook sold 191,753 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the sale, the insider directly owned 3,264,168 shares of the company’s stock, valued at approximately $1,086,837,377.28. This trade represents a 5.55% 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 a total of 291,651 shares of company stock valued at $97,082,537 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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