5,248 Apple Inc. $AAPL Shares Sold by AMG Asset Management Group Inc.

Key Points

• AMG Asset Management Group cut its Apple position by 20.9%, selling 5,248 shares in the third quarter. It retained 19,813 shares, valued at about $6.6 million, with Apple representing 4.1% of its portfolio.
• Apple beat quarterly estimates, reporting $2.10 in earnings per share and $114.48 billion in revenue, up 11.7% year over year. However, management flagged rising memory-chip costs and supply constraints that could pressure holiday-quarter margins.
• Analysts’ overall view remains positive: Apple has a “Moderate Buy” consensus rating and a $343.74 average price target, though recent targets range from $250 to $400.

AMG Asset Management Group Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 20.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,813 shares of the iPhone maker's stock after selling 5,248 shares during the period. Apple accounts for about 4.1% of AMG Asset Management Group Inc.'s holdings, making the stock its 5th largest holding. AMG Asset Management Group Inc.'s holdings in Apple were worth $6,598,000 at the end of the most recent quarter.

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

Insider Activity

In related news, insider Timothy Cook sold 191,753 shares of the company's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the transaction, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total value of $806,495.82. Following the completion of the sale, the senior vice president owned 41,992 shares in the company, valued at approximately $14,116,870.56. The trade was a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 291,651 shares of company stock valued at $97,082,537 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue estimates, with solid iPhone and Mac demand. Apple also says more apps optimized for its new foldable iPhone are coming, potentially improving the product’s appeal. Apple earnings beat
• Positive Sentiment: Apple has held up better than many chipmakers amid the AI-stock sell-off, and Bernstein raised its price target to $380 while maintaining a Buy rating. This relative strength may support investor sentiment. Apple holds up amid market weakness
• Neutral Sentiment: Apple is reportedly seeking about $7.5 billion through a bond offering. The financing provides flexibility, though the reports do not specify its use. The company is also limiting some employees’ AI-tool budgets, a move that could help control costs but raises questions about its internal AI investment. Apple bond sale report
• Negative Sentiment: Management warned of unprecedented memory-chip costs and supply constraints heading into the holiday quarter, putting gross margins at risk despite healthy demand. Investors are also weighing slower Services growth and Apple’s premium valuation. Memory costs and supply constraints

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AAPL. Argus increased their price target on shares of Apple from $375.00 to $400.00 and gave the stock a "buy" rating in a research note on Tuesday, November 3rd. KeyCorp reissued an "underweight" rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, November 3rd. CICC Research upped their price objective on shares of Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Yorkville Ives started coverage on shares of Apple in a research note on Tuesday, October 6th. They set an "outperform" rating and a $400.00 target price for the company. Finally, Weiss Ratings upgraded shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $343.74.

Apple Price Performance

NASDAQ AAPL opened at $342.37 on Monday. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $355.38. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.98 trillion, a P/E ratio of 38.17, a price-to-earnings-growth ratio of 3.22 and a beta of 1.07. The stock's 50-day moving average price is $336.01 and its 200-day moving average price is $298.50.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The business had revenue of $114.48 billion during the quarter, compared to the consensus estimate of $113.40 billion. During the same period in the prior year, the company posted $1.85 EPS. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 9.68 earnings per share for the current year.

Apple Announces Dividend

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