Apple Inc. $AAPL Shares Sold by Arcus Capital Partners LLC

Key Points

• Arcus Capital Partners cut its Apple holdings by 53.1% in the second quarter, selling 7,908 shares and retaining 6,983 shares valued at approximately $2.02 million.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $340.02, while institutional investors own 67.73% of Apple’s outstanding shares.

Arcus Capital Partners LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 53.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,983 shares of the iPhone maker's stock after selling 7,908 shares during the period. Apple makes up about 0.9% of Arcus Capital Partners LLC's investment portfolio, making the stock its 20th largest position. Arcus Capital Partners LLC's holdings in Apple were worth $2,020,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AAPL. Sterling Wealth Management Inc. increased its stake in Apple by 0.3% during the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker's stock worth $3,351,000 after acquiring an additional 30 shares during the last quarter. Evansbrook LLC raised its position in Apple by 0.4% during the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock valued at $2,054,000 after purchasing an additional 34 shares during the period. JMG Financial Group Ltd. raised its position in Apple by 0.7% during the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock valued at $1,295,000 after purchasing an additional 35 shares during the period. Advocate Investing Services LLC lifted its stake in shares of Apple by 0.5% in the 2nd quarter. Advocate Investing Services LLC now owns 7,847 shares of the iPhone maker's stock valued at $2,271,000 after purchasing an additional 39 shares during the last quarter. Finally, Sugar Maple Asset Management LLC lifted its stake in shares of Apple by 2.0% in the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of AAPL opened at $336.64 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $345.34. The stock has a market cap of $4.91 trillion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07. The firm has a fifty day moving average price of $322.61 and a 200 day moving average price of $302.99.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same quarter last year, the company posted $1.57 earnings per share. The business's quarterly revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's dividend payout ratio is 12.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Raymond James Financial reiterated a "market perform" rating on shares of Apple in a report on Friday, July 31st. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Thursday, October 1st. Bank of America restated a "buy" rating and set a $370.00 price target on shares of Apple in a report on Wednesday, September 23rd. Rosenblatt Securities restated a "neutral" rating and issued a $303.00 price target on shares of Apple in a research report on Thursday, September 10th. Finally, Evercore set a $380.00 price target on Apple and gave the stock an "outperform" rating in a research report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $340.02.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Insider Transactions at Apple

In related news, CEO John Ternus sold 25,412 shares of the firm's stock in a transaction that occurred 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 owned 59,567 shares in the company, valued at $19,832,236.98. This trade represents a 29.90% decrease in their position. The transaction was disclosed in a filing 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, insider Timothy Cook sold 191,753 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider owned 3,264,168 shares in the company, valued at $1,086,837,377.28. This represents a 5.55% 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. Insiders sold 279,383 shares of company stock valued at $92,912,517 in the last 90 days. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.