30,425 Apple Inc. $AAPL Shares Sold by Everhart Financial Group Inc.

Key Points

• Everhart Financial Group cut its Apple stake by 15.4% in the third quarter, selling 30,425 shares and retaining 166,661 shares valued at approximately $55.4 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share, exceeding estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also announced a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $340.39, although some firms maintain neutral or underweight ratings and insider selling has continued.

Everhart Financial Group Inc. lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 15.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 166,661 shares of the iPhone maker's stock after selling 30,425 shares during the quarter. Apple comprises 3.4% of Everhart Financial Group Inc.'s investment portfolio, making the stock its 10th largest holding. Everhart Financial Group Inc.'s holdings in Apple were worth $55,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Veracity Capital LLC grew its stake in Apple by 3.9% during the third quarter. Veracity Capital LLC now owns 30,305 shares of the iPhone maker's stock valued at $10,092,000 after acquiring an additional 1,142 shares in the last quarter. Plan A Wealth LLC boosted its holdings in Apple by 426.6% in the 3rd quarter. Plan A Wealth LLC now owns 54,846 shares of the iPhone maker's stock valued at $18,179,000 after purchasing an additional 44,431 shares during the period. New Covenant Trust Company N.A. increased its holdings in shares of Apple by 10.4% in the third quarter. New Covenant Trust Company N.A. now owns 21,378 shares of the iPhone maker's stock worth $7,119,000 after purchasing an additional 2,006 shares during the period. Kaydan Wealth Management Inc. raised its position in shares of Apple by 35.4% in the third quarter. Kaydan Wealth Management Inc. now owns 14,230 shares of the iPhone maker's stock worth $4,505,000 after buying an additional 3,719 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of Apple by 52.9% in the third quarter. Toth Financial Advisory Corp now owns 138,578 shares of the iPhone maker's stock worth $43,342,000 after buying an additional 47,921 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 0.4%

NASDAQ:AAPL opened at $343.46 on Friday. The company has a 50-day moving average price of $325.83 and a 200-day moving average price of $306.16. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $348.15. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a market cap of $5.01 trillion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.71 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates 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 in the previous year, the firm posted $1.57 EPS. The company'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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's payout ratio is presently 12.39%.

Analysts Set New Price Targets

Several research firms recently weighed in on AAPL. BTIG Research started coverage on shares of Apple in a research report on Monday, August 17th. They issued a "neutral" rating on the stock. Barclays reiterated an "underweight" rating and set a $245.00 target price (down from $253.00) on shares of Apple in a research report on Friday, July 31st. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Thursday, October 1st. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research note on Friday, September 25th. Finally, Daiwa Securities Group increased their price target on shares of Apple from $325.00 to $335.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. One research 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 issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $340.39.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s $1,999 iPhone Duo reportedly sold out within minutes of preorders opening, with delivery estimates pushed into 2027. The response suggests strong pricing power and could establish a significant new premium product category. Apple blames extraordinary demand as foldable iPhones sell out
• Positive Sentiment: Evercore ISI said the iPhone Duo’s extended lead times support its Buy rating and $380 price target. Investors view the launch as a potential catalyst for higher average selling prices and iPhone revenue. Apple early iPhone demand supports Buy rating
• Positive Sentiment: Apple and Meta are collaborating to run Meta’s 816-billion-parameter Muse Spark Open AI model locally on high-end Macs. The partnership may strengthen Mac demand for AI workloads and improve Apple’s AI positioning without requiring a competing mega-scale model. Apple and Meta team up on AI
• Neutral Sentiment: UBS cautioned that iPhone demand could weaken, highlighting the risk that strong initial foldable-phone interest may not translate into sustained volume. Apple’s roughly $5 trillion valuation also leaves the stock dependent on continued execution.
• Negative Sentiment: UK regulators are preparing a legal fight that could require Apple to give competing payment providers access to technology behind Apple Pay’s tap-to-pay functionality. A forced opening could weaken the payments ecosystem and create compliance costs. Apple set for UK legal fight over tap-to-pay rules
• Negative Sentiment: Apple faces ongoing concerns about lagging rivals in AI infrastructure and advanced assistants. Reports that some iPhone 18 Pro component orders were reduced add to questions about future handset demand.
• Negative Sentiment: Senior Vice President Jennifer Newstead sold 2,399 shares worth approximately $828,000. The transaction is small relative to Apple’s size but represents another insider sale and may have modest signaling value.

Insider Transactions at Apple

In other news, CEO John Ternus sold 25,412 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the transaction, the chief executive officer directly owned 59,567 shares of the company's stock, valued at $19,832,236.98. This represents a 29.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of the 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 sale, the senior vice president directly 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 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. In the last 90 days, insiders sold 281,782 shares of company stock valued at $93,740,172. Insiders own 0.06% of the company's stock.

Apple Company Profile

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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