Apple Inc. $AAPL Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Apple stake by 4.1% in the third quarter, selling 53,113 shares; it still held 1.24 million shares worth about $412 million.
• Apple beat quarterly estimates, reporting earnings of $2.10 per share and revenue of $114.48 billion, up 11.7% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $343.74; Apple also declared a quarterly dividend of $0.27 per share.

Crossmark Global Holdings Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,238,134 shares of the iPhone maker's stock after selling 53,113 shares during the period. Apple makes up 5.0% of Crossmark Global Holdings Inc.'s holdings, making the stock its 3rd biggest holding. Crossmark Global Holdings Inc.'s holdings in Apple were worth $412,323,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sterling Wealth Management Inc. grew its stake in shares of Apple by 0.3% in 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 in the last quarter. Thor Investment Management Inc. OH ADV raised its stake in shares of Apple by 1.6% in the third quarter. Thor Investment Management Inc. OH ADV now owns 1,912 shares of the iPhone maker's stock valued at $637,000 after acquiring an additional 30 shares in the last quarter. Evansbrook LLC raised its stake in shares of Apple by 0.4% in the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock valued at $2,054,000 after acquiring an additional 34 shares in the last quarter. JMG Financial Group Ltd. boosted its holdings in Apple by 0.7% in 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. Finally, Wealth Forward LLC boosted its holdings in Apple by 0.3% in the third quarter. Wealth Forward LLC now owns 13,327 shares of the iPhone maker's stock valued at $4,438,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Evercore reiterated an "outperform" rating on shares of Apple in a research note on Tuesday, October 27th. Daiwa Securities Group lifted their price objective on Apple from $325.00 to $335.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Rosenblatt Securities reissued a "neutral" rating and set a $303.00 price objective on shares of Apple in a research report on Tuesday, November 3rd. Finally, Maxim Group upped their target price on shares of Apple from $350.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $343.74.

Apple Stock Performance

Shares of AAPL stock opened at $342.37 on Monday. 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 firm has a fifty day moving average price of $336.01 and a 200 day moving average price of $298.50. The company has a market cap of $4.98 trillion, a P/E ratio of 38.17, a PEG ratio of 3.22 and a beta of 1.07. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38.

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, beating analysts' consensus estimates of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The company had revenue of $114.48 billion for the quarter, compared to analysts' expectations of $113.40 billion. During the same period last year, the firm earned $1.85 earnings per share. Apple's quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 9.68 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed 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. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 12th. Apple's dividend payout ratio is currently 12.04%.

Insiders Place Their Bets

In related news, CEO John Ternus sold 25,412 shares of the business'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 completion of the sale, the chief executive officer owned 59,567 shares in the company, valued at $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total value of $806,495.82. Following the completion of the transaction, the senior vice president directly owned 41,992 shares of the company's stock, valued at $14,116,870.56. This trade represents a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 291,651 shares of company stock valued at $97,082,537. 0.06% of the stock is owned by insiders.

Trending Headlines about 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

Apple Company 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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