2,190 Apple Inc. $AAPL Shares Sold by Eastover Investment Advisors LLC

Key Points

• Eastover Investment Advisors cut its Apple position by 4.7% in the third quarter, selling 2,190 shares and retaining 44,619 shares valued at approximately $14.9 million. Apple remains its second-largest holding and represents 6.2% of its portfolio.
• Institutional ownership remains substantial at 67.73%, while several other funds increased their Apple holdings. Analysts maintain a generally favorable outlook, with a “Moderate Buy” consensus and an average price target of $340.39.
• Apple reported strong recent operating results, including 16.4% year-over-year revenue growth and quarterly EPS above expectations, but investors are monitoring valuation, iPhone demand, supplier production cuts and competition. Company insiders also sold shares largely to cover tax obligations related to equity awards.

Eastover Investment Advisors LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,619 shares of the iPhone maker's stock after selling 2,190 shares during the period. Apple comprises about 6.2% of Eastover Investment Advisors LLC's investment portfolio, making the stock its 2nd largest position. Eastover Investment Advisors LLC's holdings in Apple were worth $14,859,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AAPL. Eastern Bank grew its holdings in shares of Apple by 0.7% during the third quarter. Eastern Bank now owns 1,173,537 shares of the iPhone maker's stock worth $390,811,000 after buying an additional 8,100 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Apple by 5.2% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 676,593 shares of the iPhone maker's stock valued at $221,639,000 after buying an additional 33,656 shares during the last quarter. Marotta Asset Management lifted its stake in shares of Apple by 0.9% during the third quarter. Marotta Asset Management now owns 6,427 shares of the iPhone maker's stock valued at $2,140,000 after buying an additional 59 shares during the period. Polaris Financial Partners purchased a new position in shares of Apple during the third quarter valued at approximately $13,550,000. Finally, Boltwood Capital Management boosted its position in Apple by 2.3% during the third quarter. Boltwood Capital Management now owns 39,749 shares of the iPhone maker's stock worth $13,237,000 after acquiring an additional 907 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on AAPL shares. Moffett Nathanson reaffirmed a "neutral" rating and issued a $304.00 target price (up from $270.00) on shares of Apple in a research note on Tuesday, September 8th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Thursday, October 1st. UBS Group restated a "neutral" rating on shares of Apple in a report on Tuesday, October 6th. KGI Securities downgraded Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective for the company. in a research report on Monday, June 22nd. Finally, Rothschild & Co Redburn set a $400.00 price objective on Apple and gave the company a "buy" rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $340.39.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple launched the $299 HomeView smart-home hub, featuring an upgraded Siri AI assistant, along with a new Apple TV 4K, HomePod mini 2, cameras, a video doorbell, smart lock, thermostat and other accessories. The products expand Apple’s ecosystem into the home and provide a potential new source of hardware and services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Partnerships with LG Electronics and Schneider Electric broaden the Apple Home Collection, including security, energy-management and access-control products that could increase engagement with iPhones, Apple Watches and other Apple devices. LG announces smart-home accessories developed with Apple
• Positive Sentiment: Analyst support remains favorable. Bernstein reiterated a Buy rating with a $370 target, while JPMorgan raised its target to $360. Reports also indicate Apple’s iPhone market share reached 22% in the latest quarter, and iPhone 18 Pro demand may be stronger than last year. Bernstein reiterates Buy rating on Apple
• Positive Sentiment: A federal judge ordered OpenAI to provide hiring records and other materials in Apple’s trade-secrets lawsuit, potentially helping Apple investigate the recruitment of former employees and its claims against OpenAI. Judge orders OpenAI to turn over hiring records
• Neutral Sentiment: Investors are awaiting iPhone Duo preorders on October 16. Strong purchase intent could support the stock, but pricing and delivery trends will be closely watched.
• Negative Sentiment: Some suppliers are reportedly cutting production of newer iPhone models, while shorter delivery windows for Pro models raise questions about demand. Apple’s shares also trade at a demanding valuation, leaving less room for disappointing December-quarter guidance.
• Negative Sentiment: Analysts warn that SpaceX’s potential Starlink smartphone and Google’s expanding health-data platform could intensify competition in wireless services, wearables and ecosystem engagement over time.

Insider Buying and Selling

In other news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president owned 136,810 shares in the company, valued at approximately $45,615,190.20. This trade represents a 25.32% 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 link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Ternus sold 25,412 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the transaction, the chief executive officer directly owned 59,567 shares in the company, valued at $19,832,236.98. This trade represents a 29.90% 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. Over the last three months, insiders sold 279,383 shares of company stock valued at $92,912,517. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $341.27 on Wednesday. The firm has a market capitalization of $4.98 trillion, a P/E ratio of 39.14, a P/E/G ratio of 2.72 and a beta of 1.07. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $348.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The business's 50-day simple moving average is $324.00 and its 200-day simple moving average is $304.61.

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

Apple Dividend Announcement

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

About Apple

Apple Inc is a technology company that designs, develops and markets 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 software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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