2,537 Apple Inc. $AAPL Shares Sold by Lazari Capital Management Inc.

Key Points

• Lazari Capital Management reduced its Apple stake by 2,537 shares, or 1.7%, in the third quarter, but still held 146,480 shares worth about $48.8 million; Apple remained its second-largest holding.
• Apple beat quarterly earnings and revenue expectations, reporting $2.10 per share and $114.48 billion in revenue, up 11.7% year over year. The company also announced a quarterly dividend of $0.27 per share.
• Analyst sentiment was broadly positive, with a “Moderate Buy” consensus and an average price target of $343.74, though some analysts lowered their ratings or targets. Recent insider sales totaled about $97.1 million over 90 days.

Lazari Capital Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,480 shares of the iPhone maker's stock after selling 2,537 shares during the period. Apple makes up about 11.6% of Lazari Capital Management Inc.'s portfolio, making the stock its 2nd biggest holding. Lazari Capital Management Inc.'s holdings in Apple were worth $48,781,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Berkshire Hathaway Inc purchased a new position in shares of Apple in the 2nd quarter valued at approximately $65,950,297,000. Bank of America Corp DE purchased a new stake in Apple during the 2nd quarter valued at about $36,986,090,000. Legal & General Group Plc acquired a new position in shares of Apple in the second quarter valued at about $30,443,242,000. Deutsche Bank AG acquired a new position in shares of Apple in the second quarter valued at about $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Apple in the second quarter valued at about $10,588,946,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction that occurred 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 owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 the firm's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total value of $806,495.82. Following the completion of the transaction, the senior vice president owned 41,992 shares in the company, valued at $14,116,870.56. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 291,651 shares of company stock valued at $97,082,537. Insiders own 0.06% of the company's stock.

Apple Stock Down 1.5%

Apple stock opened at $344.17 on Friday. The firm has a market cap of $5.00 trillion, a price-to-earnings ratio of 38.37, 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 business's 50-day moving average price is $335.46 and its 200 day moving average price is $298.03. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.11. Apple had a net margin of 27.60% and a return on equity of 125.35%. The firm had revenue of $114.48 billion during the quarter, compared to analyst estimates of $113.40 billion. During the same period in the previous year, the firm earned $1.85 EPS. The business's quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 9.64 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 12th. Apple's dividend payout ratio is presently 12.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen decreased their target price on Apple from $400.00 to $390.00 and set a "buy" rating for the company in a report on Tuesday. Piper Sandler initiated coverage on Apple in a research report on Monday, August 17th. They issued an "overweight" rating on the stock. Evercore reiterated an "outperform" rating on shares of Apple in a report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft lowered shares of Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Citic Securities raised their price target on shares of Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $343.74.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue expectations, with revenue of $114.5 billion and solid iPhone and Mac demand. The results support the view that product demand remains healthy. Apple shares fell despite a double beat in Q4
• Positive Sentiment: Bernstein raised its price target to $380 and kept a Buy rating, citing potential upside from Apple’s business prospects. Bernstein rating and price target
• Neutral Sentiment: Apple is reportedly seeking up to $7 billion through a bond offering. The borrowing adds financing flexibility, but the reports did not specify how proceeds would be used. Apple seeks about $7 billion from bond sale
• Negative Sentiment: Management flagged memory-chip costs that could keep rising, along with supply constraints ahead of the December quarter. These pressures may weigh on margins even as demand remains strong. Supply constraints and rising memory costs
• Negative Sentiment: Investors are also scrutinizing earnings quality: tariff refunds boosted reported profit metrics, making the underlying results less straightforward to assess. Investors revisit Apple earnings quality
• Negative Sentiment: Analyst caution and valuation concerns add to the headwinds. DZ Bank cut Apple to Sell, while coverage also points to slower Services growth and a premium share valuation. DZ Bank downgrades Apple

About Apple

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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