Apple Inc. $AAPL Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the third quarter, Holdings Channel reports. The firm owned 252,518 shares of the iPhone maker’s stock after selling 6,948 shares during the quarter. Apple makes up approximately 4.4% of Lmcg Investments LLC’s portfolio, making the stock its biggest position. Lmcg Investments LLC’s holdings in Apple were worth $84,093,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AAPL. Avenir Tech Ltd bought a new position in Apple in the second quarter worth about $29,000. Ironwood Wealth Management Inc. bought a new stake in Apple during the 3rd quarter valued at approximately $34,000. Longfellow Investment Management Co. LLC bought a new stake in Apple during the 2nd quarter valued at approximately $30,000. ABS Investment Management LLC purchased a new position in shares of Apple during the 2nd quarter worth approximately $376,168,000. Finally, Bamco Inc. NY purchased a new position in shares of Apple during the 2nd quarter worth approximately $118,000. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

AAPL stock opened at $350.69 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.93 and a current ratio of 1.02. The firm has a 50 day moving average price of $336.63 and a 200-day moving average price of $299.02. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $355.38. The firm has a market capitalization of $5.10 trillion, a price-to-earnings ratio of 39.10, a PEG ratio of 3.30 and a beta of 1.07.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $113.40 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 9.68 EPS 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 12th. Apple’s payout ratio is 12.04%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. Wells Fargo & Company restated an “overweight” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research note on Friday, July 31st. Loop Capital cut Apple from a “buy” rating to a “hold” rating and reduced their price target for the stock from $370.00 to $330.00 in a research note on Tuesday, October 20th. DZ Bank lowered Apple from a “hold” rating to a “sell” rating and set a $300.00 price objective for the company. in a research report on Wednesday, November 4th. Rosenblatt Securities reissued a “neutral” rating and set a $303.00 price objective on shares of Apple in a research report on Tuesday, November 3rd. Finally, HSBC restated a “buy” rating on shares of Apple in a report on Tuesday, October 27th. Two investment 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’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $343.74.

Insiders Place Their Bets

In other news, insider Ben Borders sold 1,280 shares of the 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 represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,392 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $345.05, for a total value of $480,309.60. Following the completion of the sale, the chief financial officer directly owned 17,539 shares in the company, valued at approximately $6,051,831.95. This represents a 7.35% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 290,212 shares of company stock valued at $96,639,685. Company insiders own 0.06% of the company’s stock.

More Apple News

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

Apple 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.