Apple Inc. $AAPL Shares Purchased by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors increased its Apple stake by 6.8% in the third quarter, to 119,507 shares valued at about $41 million.
• Apple beat quarterly expectations, reporting $2.10 in earnings per share and $114.48 billion in revenue; revenue rose 11.7% year over year.
• Apple insiders sold shares worth about $96.6 million over the past three months, with the reported sales made to cover tax withholding on vested equity awards.

Foster Victor Wealth Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 119,507 shares of the iPhone maker's stock after acquiring an additional 7,622 shares during the period. Apple makes up approximately 1.8% of Foster Victor Wealth Advisors LLC's holdings, making the stock its 8th largest holding. Foster Victor Wealth Advisors LLC's holdings in Apple were worth $40,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Avenir Tech Ltd purchased a new position in shares of Apple in the second quarter valued at $29,000. Longfellow Investment Management Co. LLC acquired a new position in Apple in the 2nd quarter worth $30,000. Ironwood Wealth Management Inc. acquired a new position in Apple in the 3rd quarter worth $34,000. Ascentis Wealth Management LLC lifted its holdings in Apple by 822.7% in the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock worth $85,000 after buying an additional 260,792 shares in the last quarter. Finally, Bamco Inc. NY purchased a new position in Apple in the 2nd quarter valued at about $118,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, insider Timothy D. 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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 company's stock in a transaction that occurred 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 owned 136,810 shares in the company, valued at $45,615,190.20. The trade was a 25.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 290,212 shares of company stock worth $96,639,685. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 2.4%

NASDAQ AAPL opened at $350.69 on Tuesday. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.93. The company has a market capitalization of $5.10 trillion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07. The company's fifty day moving average price is $336.63 and its two-hundred day moving average price is $299.02.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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. The company 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 firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $1.85 EPS. As a group, research analysts predict that Apple Inc. will post 9.68 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's dividend payout ratio (DPR) is presently 12.04%.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating in a research note on Friday. Guggenheim set a $400.00 target price on Apple in a research report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft cut Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Morgan Stanley set a $350.00 price target on Apple and gave the company an "overweight" rating in a report on Tuesday, November 3rd. Finally, Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $343.74.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported quarterly revenue of $114.48 billion and EPS of $2.10, topping estimates, with double-digit growth in hardware and services. Article
• Positive Sentiment: Apple Intelligence cleared a Chinese regulatory step for use on tablets and laptops, potentially expanding the service’s reach in a major market. Article
• Positive Sentiment: Apple has begun offering $49.99 add-on packs for extra AI usage in Creator Studio, a potential new revenue stream from its AI features. Article
• Positive Sentiment: Commentary points to resilient iPhone demand and Apple’s comparatively restrained AI spending as advantages amid investor concerns about heavy AI investment elsewhere. Article
• Neutral Sentiment: Apple issued $7.5 billion in senior unsecured notes. The financing provides capital but also adds debt; the announcement does not specify a direct operating catalyst. Article
• Negative Sentiment: Reports warn that rising memory-chip costs could pressure margins, while some analysts question whether Apple’s valuation leaves limited room for further gains. Article

Apple Profile

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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