1,602 Apple Inc. $AAPL Shares Acquired by Millennium Capital Advisors LLC

Key Points

• Millennium Capital Advisors increased its Apple position by 1.7% in the third quarter, acquiring 1,602 shares and bringing its holdings to 93,607 shares worth approximately $31.1 million. Apple represents 16.2% of the firm’s portfolio and is its largest holding.
• Institutional investors own 67.73% of Apple, while company insiders sold roughly 289,252 shares valued at $96.3 million over the past 90 days, primarily including disclosed sales by senior vice presidents.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $340.59. Apple recently reported quarterly EPS of $2.02 and revenue of $109.42 billion, both exceeding expectations.

Millennium Capital Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,607 shares of the iPhone maker's stock after buying an additional 1,602 shares during the period. Apple comprises approximately 16.2% of Millennium Capital Advisors LLC's holdings, making the stock its largest holding. Millennium Capital Advisors LLC's holdings in Apple were worth $31,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Shelton Wealth Management LLC boosted its holdings in shares of Apple by 61.6% in the 3rd quarter. Shelton Wealth Management LLC now owns 10,991 shares of the iPhone maker's stock valued at $3,423,000 after buying an additional 4,189 shares in the last quarter. Pension & Wealth Management Advisors Inc. grew its position in shares of Apple by 48.7% in the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 24,804 shares of the iPhone maker's stock worth $8,252,000 after buying an additional 8,121 shares during the last quarter. Annex Advisory Services LLC raised its stake in shares of Apple by 20.5% during the 3rd quarter. Annex Advisory Services LLC now owns 547,098 shares of the iPhone maker's stock worth $182,098,000 after acquiring an additional 93,191 shares in the last quarter. Vanguard Capital Wealth Advisors raised its stake in shares of Apple by 1.1% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 54,493 shares of the iPhone maker's stock worth $18,147,000 after acquiring an additional 569 shares in the last quarter. Finally, BFI Infinity Ltd. purchased a new stake in Apple during the third quarter valued at approximately $5,295,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 46,389 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. This represents a 25.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $343.36, for a total value of $823,720.64. Following the completion of the transaction, the senior vice president owned 32,396 shares of the company's stock, valued at $11,123,490.56. This trade represents a 6.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 289,252 shares of company stock valued at $96,301,063. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Apple from $340.00 to $360.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Citic Securities upped their price target on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Daiwa Securities Group increased their price objective on Apple from $325.00 to $335.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Loop Capital cut Apple from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $370.00 to $330.00 in a research report on Tuesday, October 20th. Finally, HSBC restated a "buy" rating on shares of Apple in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $340.59.

Apple Stock Up 1.5%

AAPL stock opened at $348.91 on Friday. The stock has a market capitalization of $5.09 trillion, a PE ratio of 40.01, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $351.73. 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 firm has a 50 day moving average of $332.37 and a 200 day moving average of $295.96.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.57 EPS. Sell-side analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analysts remain optimistic ahead of earnings, citing strong demand for Apple’s new iPhone Duo, continued Services growth and potential AI-related momentum. Options activity also points to expectations for a post-earnings rally. Apple's Q4 Earnings Loom
• Positive Sentiment: Goldman Sachs reaffirmed its Buy rating, while Monness raised its price target to $355. Apple is also attracting attention as it approaches Nvidia in market capitalization, with revenue growth described as its fastest in about five years. Apple Stock Heads Toward All-Time High
• Positive Sentiment: Apple launched its first touchscreen MacBook Pro, featuring OLED displays and M5 Pro and M5 Max chips. The move expands the Mac product cycle and could support higher average selling prices, despite the premium starting price. Apple Shows First Touchscreen Laptops
• Neutral Sentiment: Forty-seven exchange-traded funds added to their Apple holdings, indicating continued institutional demand, although the purchases do not necessarily signal near-term changes in fundamentals. 47 ETFs Add to Apple Holdings
• Negative Sentiment: Investors face margin and valuation concerns. AI-driven flash-memory demand has sharply increased component costs, while Apple’s roughly 40-times earnings multiple leaves limited room for disappointing guidance. AI Has Made Flash Memory More Expensive
• Negative Sentiment: South Korea fined Apple and Google a combined $47.6 million over alleged unfair app-payment practices. Early reports of cracked iPhone Duo screens and an executive stock sale add smaller sources of investor caution. South Korea Fines Google and Apple

Apple Company Profile

Apple Inc designs, develops and sells consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware ecosystem.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.

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