Hoese & Co LLP lowered its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 50.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,256 shares of the iPhone maker’s stock after selling 2,300 shares during the quarter. Apple accounts for 0.5% of Hoese & Co LLP’s holdings, making the stock its 22nd largest position. Hoese & Co LLP’s holdings in Apple were worth $751,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in AAPL. Catalyst Investment Management LLC grew its position in shares of Apple by 42.1% in the 3rd quarter. Catalyst Investment Management LLC now owns 8,728 shares of the iPhone maker’s stock valued at $2,907,000 after buying an additional 2,585 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Apple in the third quarter valued at about $706,000. Trifecta Capital Advisors LLC raised its position in shares of Apple by 1.2% during the third quarter. Trifecta Capital Advisors LLC now owns 124,350 shares of the iPhone maker’s stock worth $41,411,000 after acquiring an additional 1,491 shares during the last quarter. Income Insurance Ltd raised its position in shares of Apple by 0.3% during the third quarter. Income Insurance Ltd now owns 45,737 shares of the iPhone maker’s stock worth $15,231,000 after acquiring an additional 120 shares during the last quarter. Finally, Wavvest Wealth LLC bought a new position in shares of Apple during the third quarter worth about $1,629,000. Institutional investors own 67.73% of the company’s stock.
Insider Buying and Selling at Apple
In other news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction dated Tuesday, September 29th. The shares were 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 $14,116,870.56. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 46,389 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the sale, the senior vice president directly owned 136,810 shares of the company’s stock, valued at approximately $45,615,190.20. The trade was a 25.32% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 291,651 shares of company stock worth $97,082,537. Corporate insiders own 0.06% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. HSBC reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Daiwa Securities Group raised their price target on shares of Apple from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Maxim Group boosted their price target on shares of Apple from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Seaport Research Partners lowered shares of Apple from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.74.
View Our Latest Research Report on AAPL
Apple Stock Performance
NASDAQ AAPL opened at $342.37 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $355.38. The business has a 50 day moving average price of $336.01 and a 200-day moving average price of $298.50. The company has a market cap of $4.98 trillion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 3.22 and a beta of 1.07.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $114.48 billion for the quarter, compared to analysts’ expectations of $113.40 billion. During the same period last year, the business earned $1.85 EPS. Apple’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 9.68 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed 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 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio is presently 12.04%.
Apple News Summary
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 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.
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