Apple Inc. $AAPL Shares Sold by Ninety One North America Inc.

Key Points

• Ninety One North America reduced its Apple stake by 6.2% in the third quarter, selling 2,751 shares and retaining 41,854 shares valued at approximately $13.9 million. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Apple’s growth outlook is supported by strong demand for its foldable iPhone Duo, higher initial iPhone 18 Pro sales and new M6-powered Macs, though reported foldable-screen defects and rising memory costs pose risks.
• Apple shares recently traded near $347, implying a market capitalization of about $5.07 trillion and a forward-looking valuation near 40 times earnings. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $340.12.

Ninety One North America Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,854 shares of the iPhone maker's stock after selling 2,751 shares during the period. Ninety One North America Inc.'s holdings in Apple were worth $13,938,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBE LLC DBA Cedar Cove Wealth Partners lifted its stake in shares of Apple by 1.8% during the third quarter. SBE LLC DBA Cedar Cove Wealth Partners now owns 6,376 shares of the iPhone maker's stock valued at $2,123,000 after acquiring an additional 110 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in Apple by 4.1% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 110,712 shares of the iPhone maker's stock valued at $36,869,000 after acquiring an additional 4,367 shares during the last quarter. Nvwm LLC increased its position in Apple by 0.6% in the third quarter. Nvwm LLC now owns 74,776 shares of the iPhone maker's stock worth $24,902,000 after purchasing an additional 448 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in Apple by 10.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 2,818,642 shares of the iPhone maker's stock worth $917,495,000 after purchasing an additional 269,347 shares during the period. Finally, B.A. Schrock Wealth Management Inc. bought a new stake in Apple during the 3rd quarter worth about $7,745,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Demand for Apple’s first foldable iPhone Duo has substantially exceeded supply. The $1,999 device reportedly sold out within minutes, delivery estimates extend into January, and Apple is said to be seeking as much as 30% more production capacity. This supports hopes for a new high-margin growth category and a broader iPhone upgrade cycle. Apple's Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
• Positive Sentiment: Initial global sales of the iPhone 18 Pro were 3.1% above the prior-generation Pro models, including a 29% increase in China. Strong premium-phone demand could help Apple’s revenue and services ecosystem. Initial global sales of Apple iPhone 18 Pro higher than 17 series
• Positive Sentiment: Apple launched an M6-powered 24-inch iMac and 14-inch MacBook Pro, promoting faster performance and on-device AI capabilities. The refresh could lift Mac sales and support Apple’s longer-term AI hardware strategy. Apple introduces the new 14-inch MacBook Pro with M6
• Neutral Sentiment: Apple also released iOS 27.2 with expanded Siri AI language support, security improvements and new features for the iPhone Duo. These updates may strengthen the ecosystem, but their near-term financial impact is uncertain. Apple rolls out iOS 27.2 with new Siri AI languages and security fixes
• Negative Sentiment: Some iPhone Duo owners report cracks and bright lines near the hinge. Apple acknowledged the display issue and is offering replacements, while teardown reports point to a possible hinge-related design problem. Potential warranty costs and reputational damage threaten the new product’s momentum. Some iPhone Duo owners say Apple's foldable cracked within hours
• Negative Sentiment: Loop Capital downgraded Apple to Hold and cut its price target to $330, citing possible iPhone shipment reductions and rising memory costs. At nearly 40 times earnings, investors may require strong December-quarter guidance to justify the valuation. Loop Capital Lowers Apple Stock Price Target on iPhone Shipment Concerns

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AAPL. DA Davidson reaffirmed a "neutral" rating and issued a $270.00 target price on shares of Apple in a research note on Wednesday, September 2nd. Yorkville Ives initiated coverage on shares of Apple in a research note on Tuesday, October 6th. They set an "outperform" rating and a $400.00 price target for the company. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research note on Friday, September 25th. Weiss Ratings upgraded shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, KeyCorp reaffirmed an "underweight" rating on shares of Apple in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $340.12.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,392 shares of the business's stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $345.05, for a total transaction of $480,309.60. Following the completion of the transaction, the chief financial officer owned 17,539 shares in the company, valued at approximately $6,051,831.95. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $15,467,020.38. Following the completion of the sale, the senior vice president directly owned 136,810 shares of the company's stock, 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. Insiders sold a total of 286,853 shares of company stock worth $95,477,342 over the last quarter. Insiders own 0.06% of the company's stock.

Apple Trading Up 0.9%

NASDAQ AAPL opened at $347.10 on Wednesday. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $351.73. The stock has a 50-day simple moving average of $331.06 and a 200 day simple moving average of $295.09. The company has a market capitalization of $5.07 trillion, a PE ratio of 39.81 and a beta of 1.07.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid 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%.

Apple 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.

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