35,974 Apple Inc. $AAPL Shares Sold by Wedbush Securities Inc.

Key Points

• Wedbush Securities reduced its Apple stake by 3.7%, selling 35,974 shares in the third quarter. It still held 932,334 shares worth about $310.5 million, making Apple its second-largest portfolio position.
• Apple beat quarterly expectations, reporting EPS of $2.10 versus $1.99 expected and revenue of $114.48 billion, up 11.7% year over year.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and a $347.11 average price target, alongside both buy and sell ratings.

Wedbush Securities Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 932,334 shares of the iPhone maker's stock after selling 35,974 shares during the quarter. Apple comprises 7.7% of Wedbush Securities Inc.'s portfolio, making the stock its 2nd largest position. Wedbush Securities Inc.'s holdings in Apple were worth $310,486,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Avenir Tech Ltd acquired a new stake in Apple in the second quarter valued at approximately $29,000. Ironwood Wealth Management Inc. acquired a new position in shares of Apple during the third quarter worth $34,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Apple during the second quarter worth $30,000. ABS Investment Management LLC purchased a new position in shares of Apple in the second quarter valued at $376,168,000. Finally, Bamco Inc. NY purchased a new position in shares of Apple in the second quarter valued at $118,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Apple

Here are a few of the latest headlines about AAPL:

• Positive Sentiment: Apple recently reached a record high, with one analyst describing the stock as a “safe haven” amid market turmoil. CIBC also included AAPL among its post-election stock picks. Apple Stock Called 'Safe Haven,' Hits Record High
• Neutral Sentiment: Google is bringing its Gemini assistant to Apple CarPlay, adding a new AI feature for iPhone users. The partnership may improve CarPlay’s utility, though the assistant is Google’s service rather than Apple’s. Google Brings Gemini Live to Apple CarPlay
• Negative Sentiment: Some analysts and investors view AAPL as expensive after its strong run, while recent coverage shows disagreement on the outlook, including a DZ Bank downgrade to Sell. Rich valuation leaves less room for disappointment. Apple Shares Look Expensive Heading into 2027

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. This trade represents a 25.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy Cook sold 191,753 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the completion of the sale, the insider directly owned 3,264,168 shares of the company's stock, valued at $1,086,837,377.28. The trade was a 5.55% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 292,611 shares of company stock valued at $97,482,597 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating in a report on Friday, November 6th. Jefferies Financial Group reiterated an "underperform" rating on shares of Apple in a report on Wednesday, September 9th. China Renaissance raised shares of Apple from a "hold" rating to a "buy" rating and set a $425.00 price objective for the company in a research report on Wednesday. Evercore restated an "outperform" rating on shares of Apple in a research note on Tuesday, October 27th. Finally, Sanford C. Bernstein raised their target price on Apple from $370.00 to $380.00 and gave the company a "buy" rating in a research note on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $347.11.

Apple Stock Performance

Apple stock opened at $354.88 on Friday. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $359.37. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. The stock has a market cap of $5.16 trillion, a P/E ratio of 39.56, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The stock has a 50 day moving average of $338.48 and a 200-day moving average of $300.56.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.11. The business had revenue of $114.48 billion during the quarter, compared to analyst estimates of $113.40 billion. Apple had a net margin of 27.60% and a return on equity of 125.35%. The business's revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, analysts expect that Apple Inc. will post 9.45 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be issued 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 is Thursday, November 12th. Apple's dividend payout ratio (DPR) is currently 12.04%.

About Apple

Apple Inc. designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS. The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple's devices and are sold to consumers, businesses and institutions around the world. Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.

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