Apple Inc. $AAPL Shares Sold by GK Wealth Management LLC

Key Points

• GK Wealth Management reduced its Apple position by 28.2% in the third quarter, selling 2,461 shares and retaining 6,269 shares valued at approximately $2.08 million.
• Institutional investors own 67.73% of Apple’s shares, with major holders including State Street, Berkshire Hathaway, Bank of America, Legal & General and Amundi.
• Apple recently exceeded earnings and revenue expectations, while analysts maintain a broadly positive outlook with a “Moderate Buy” consensus rating and an average price target of $340.62.

GK Wealth Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,269 shares of the iPhone maker's stock after selling 2,461 shares during the quarter. Apple comprises approximately 1.1% of GK Wealth Management LLC's investment portfolio, making the stock its 19th biggest holding. GK Wealth Management LLC's holdings in Apple were worth $2,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. State Street Corp raised its position in shares of Apple by 4.7% during the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock valued at $182,897,769,000 after acquiring an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc acquired a new position in shares of Apple in the 2nd quarter valued at $65,950,297,000. Bank of America Corp DE acquired a new position in shares of Apple in the 2nd quarter valued at $36,986,090,000. Legal & General Group Plc bought a new position in shares of Apple in the 2nd quarter worth $30,443,242,000. Finally, Amundi boosted its position in shares of Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 0.2%

Shares of NASDAQ AAPL opened at $342.94 on Tuesday. The company's fifty day moving average is $326.53 and its 200-day moving average is $307.21. The stock has a market cap of $5.00 trillion, a price-to-earnings ratio of 39.33, a P/E/G ratio of 2.72 and a beta of 1.07. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $348.15. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 earnings per share. Equities research analysts predict that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio is 12.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on AAPL. Seaport Research Partners cut Apple from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. Bank of America reissued a "buy" rating and issued a $370.00 target price on shares of Apple in a research note on Wednesday, September 23rd. Arete Research increased their target price on Apple from $305.00 to $335.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Oppenheimer restated a "market perform" rating on shares of Apple in a report on Thursday, September 10th. Finally, Evercore set a $380.00 target price on Apple and gave the stock an "outperform" rating in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $340.62.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Strong iPhone Duo demand: Preorders for Apple’s $1,999 foldable iPhone reportedly sold out quickly, with delivery estimates extending into January 2027. The robust response supports near-term revenue expectations and strengthens the case for Apple’s foldable-device strategy. Apple’s iPhone Duo Demand Soars as Deliveries Stretch Into January 2027
• Positive Sentiment: New product event announced: Apple will host its “Pro and Tell” event on October 28. Analysts expect new Macs and potentially the company’s first touchscreen MacBook, which could provide a catalyst for Mac growth and investor sentiment. Apple announces product launch event for Oct. 28
• Positive Sentiment: Analyst support remains favorable: Bank of America reiterated a Buy rating with a $370 price target, while JPMorgan maintained its Overweight rating and $360 target, citing healthy demand trends and longer-term AI potential. Apple Maintained at Buy With Unchanged $370 Price Target
• Neutral Sentiment: Insider transactions: CFO Kevan Parekh and insider Ben Borders sold shares to cover tax withholding related to vested equity awards. The sales modestly reduced their holdings but do not appear to represent discretionary bearish bets.
• Negative Sentiment: Demand concerns and valuation risk: A KeyBanc survey indicated weaker consumer intentions to upgrade iPhones over the next year, despite better early iPhone 18 interest. With AAPL trading near its 52-week high at a premium earnings multiple, disappointment in future iPhone growth could pressure the stock. Apple Stock Escaped the AI Downturn
• Negative Sentiment: Regulatory pressure: UK regulators are reportedly preparing to push Apple to allow alternative default payment services on iPhones, potentially weakening Apple Pay’s ecosystem advantages and services revenue.

Insider Activity at Apple

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 value of $8,460,671.28. Following the completion of the transaction, the chief executive officer directly owned 59,567 shares in the company, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 business'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 completion of the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. 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 have sold a total of 284,454 shares of company stock valued at $94,662,594 over the last 90 days. Insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc designs, develops and sells 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 applications that support its hardware ecosystem.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

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.