Apple Inc. $AAPL Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 418,851 shares of the iPhone maker’s stock after selling 19,120 shares during the period. Apple comprises 8.0% of AMI Asset Management Corp’s portfolio, making the stock its biggest holding. AMI Asset Management Corp’s holdings in Apple were worth $139,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Avenir Tech Ltd bought a new position in shares of Apple in the second quarter worth $29,000. Ironwood Wealth Management Inc. bought a new position in shares of Apple in the third quarter valued at about $34,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Apple during the second quarter worth $30,000. ABS Investment Management LLC bought a new position in shares of Apple in the second quarter valued at $376,168,000. Finally, Bamco Inc. NY purchased a new stake in Apple in the 2nd quarter worth approximately $118,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, CEO John Ternus sold 25,412 shares of the business’s stock in a transaction 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 transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ben Borders sold 1,280 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $345.40, for a total value of $442,112.00. Following the sale, the insider directly owned 38,288 shares of the company’s stock, valued at approximately $13,224,675.20. This trade represents a 3.23% decrease in their position. 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 sold a total of 291,651 shares of company stock valued at $97,082,537 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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

Apple Stock Down 0.5%

AAPL stock opened at $342.37 on Friday. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $355.38. The company has a 50 day moving average of $336.01 and a two-hundred day moving average of $298.50. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market cap of $5.00 trillion, a price-to-earnings ratio of 38.40, a PEG ratio of 2.82 and a beta of 1.07.

Apple (NASDAQ:AAPL) last announced its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.99 by $0.11. The business had revenue of $114.48 billion for the quarter, compared to analysts’ expectations of $113.40 billion. Apple had a return on equity of 128.88% and a net margin of 27.60%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 9.70 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AAPL shares. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and cut their price objective for the company from $370.00 to $330.00 in a research report on Tuesday, October 20th. Evercore restated an “outperform” rating on shares of Apple in a report on Tuesday, October 27th. Guggenheim set a $400.00 price target on shares of Apple in a report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Apple in a report on Thursday, September 10th. Finally, DZ Bank cut Apple from a “hold” rating to a “sell” rating and set a $300.00 target price for the company. in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $343.74.

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.