20,341 Apple Inc. $AAPL Shares Sold by State of Alaska Department of Revenue

Key Points

• Alaska’s Department of Revenue reduced its Apple stake by 20,341 shares in the third quarter, leaving it with 1.78 million shares valued at approximately $589.3 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, exceeding analyst expectations, while revenue increased 16.4% year over year. The company also maintains a $0.27 quarterly dividend, equivalent to a 0.3% yield.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $340.12 target price, although targets range from $280 to $400. Apple’s stock was trading near its 52-week high, while concerns include its premium valuation, potential shipment reductions and rising memory costs.

State of Alaska Department of Revenue decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,775,344 shares of the iPhone maker's stock after selling 20,341 shares during the quarter. Apple comprises about 5.5% of State of Alaska Department of Revenue's holdings, making the stock its 2nd largest position. State of Alaska Department of Revenue's holdings in Apple were worth $589,318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Apple by 4.7% in the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock valued at $182,897,769,000 after buying an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc purchased a new position in shares of Apple during the second quarter valued at approximately $65,950,297,000. Bank of America Corp DE acquired a new stake in Apple during the second quarter worth approximately $36,986,090,000. Legal & General Group Plc acquired a new stake in Apple during the second quarter worth approximately $30,443,242,000. Finally, Amundi boosted its position in Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after acquiring an additional 13,780,080 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $347.10 on Wednesday. The firm has a market cap of $5.07 trillion, a P/E ratio of 39.81 and a beta of 1.07. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $351.73. The firm's 50-day simple moving average is $331.06 and its 200-day simple moving average is $295.09.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period in the prior year, the business posted $1.57 earnings per share. Apple's revenue was up 16.4% on a year-over-year basis. Analysts expect that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio (DPR) is currently 12.39%.

Wall Street Analysts Forecast Growth

Several analysts have commented on AAPL shares. China Renaissance cut shares of Apple from a "buy" rating to a "hold" rating and lowered their target price for the stock from $329.00 to $280.00 in a research note on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on Apple from $340.00 to $360.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Rothschild & Co Redburn set a $400.00 price target on Apple and gave the stock a "buy" rating in a research note on Monday, August 17th. Daiwa Securities Group raised their price objective on Apple from $325.00 to $335.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Finally, Yorkville Ives initiated coverage on Apple in a research report on Tuesday, October 6th. They issued an "outperform" rating and a $400.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.12.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Demand for Apple’s first foldable iPhone Duo has substantially exceeded supply. The $1,999 device reportedly sold out within minutes, delivery estimates extend into January, and Apple is said to be seeking as much as 30% more production capacity. This supports hopes for a new high-margin growth category and a broader iPhone upgrade cycle. Apple's Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
• Positive Sentiment: Initial global sales of the iPhone 18 Pro were 3.1% above the prior-generation Pro models, including a 29% increase in China. Strong premium-phone demand could help Apple’s revenue and services ecosystem. Initial global sales of Apple iPhone 18 Pro higher than 17 series
• Positive Sentiment: Apple launched an M6-powered 24-inch iMac and 14-inch MacBook Pro, promoting faster performance and on-device AI capabilities. The refresh could lift Mac sales and support Apple’s longer-term AI hardware strategy. Apple introduces the new 14-inch MacBook Pro with M6
• Neutral Sentiment: Apple also released iOS 27.2 with expanded Siri AI language support, security improvements and new features for the iPhone Duo. These updates may strengthen the ecosystem, but their near-term financial impact is uncertain. Apple rolls out iOS 27.2 with new Siri AI languages and security fixes
• Negative Sentiment: Some iPhone Duo owners report cracks and bright lines near the hinge. Apple acknowledged the display issue and is offering replacements, while teardown reports point to a possible hinge-related design problem. Potential warranty costs and reputational damage threaten the new product’s momentum. Some iPhone Duo owners say Apple's foldable cracked within hours
• Negative Sentiment: Loop Capital downgraded Apple to Hold and cut its price target to $330, citing possible iPhone shipment reductions and rising memory costs. At nearly 40 times earnings, investors may require strong December-quarter guidance to justify the valuation. Loop Capital Lowers Apple Stock Price Target on iPhone Shipment Concerns

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the transaction, the senior vice president owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Apple stock in a transaction on 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 owned 41,992 shares in the company, valued at approximately $14,116,870.56. This trade represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 286,853 shares of company stock worth $95,477,342. Company insiders own 0.06% of the company's stock.

Apple 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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