2,100 Apple Inc. $AAPL Shares Sold by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.6% in the third quarter, Holdings Channel reports. The institutional investor owned 131,652 shares of the iPhone maker’s stock after selling 2,100 shares during the period. Apple accounts for approximately 7.6% of Clarity Wealth Advisors LLC’s holdings, making the stock its largest position. Clarity Wealth Advisors LLC’s holdings in Apple were worth $43,843,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Avenir Tech Ltd bought a new position in shares of Apple during the second quarter valued at $29,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Apple in the second quarter worth $30,000. Ironwood Wealth Management Inc. bought a new stake in shares of Apple in the third quarter worth $34,000. Ascentis Wealth Management LLC grew its stake in shares of Apple by 822.7% in the second quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock worth $85,000 after purchasing an additional 260,792 shares during the last quarter. Finally, Bamco Inc. NY bought a new stake in shares of Apple in the second quarter worth $118,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 46,389 shares of the company’s stock in a transaction 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 sale, the senior vice president owned 136,810 shares of the company’s stock, valued at approximately $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Timothy Cook sold 191,753 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the sale, the insider directly owned 3,264,168 shares in the company, valued at $1,086,837,377.28. This trade represents a 5.55% 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 have sold 290,212 shares of company stock worth $96,639,685 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 2.4%

Shares of NASDAQ AAPL opened at $350.69 on Tuesday. The company has a market capitalization of $5.10 trillion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $355.38. 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 company’s 50 day moving average price is $336.63 and its 200-day moving average price is $299.02.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. Apple had a net margin of 27.60% and a return on equity of 125.35%. The company had revenue of $114.48 billion for the quarter, compared to analyst estimates of $113.40 billion. During the same period in the prior year, the firm posted $1.85 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 9.68 earnings per share for the current year.

Apple Dividend Announcement

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

Trending Headlines about Apple

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

Analyst Ratings Changes

Several brokerages recently issued reports on AAPL. Moffett Nathanson set a $283.00 target price on Apple and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. Robert W. Baird set a $340.00 target price on Apple and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Thursday, September 10th. Evercore reiterated an “outperform” rating on shares of Apple in a research report on Tuesday, October 27th. Finally, Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.74.

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.