Apple Inc. $AAPL Shares Sold by NovaPoint Capital LLC

Key Points

• NovaPoint Capital cut its Apple stake by 2.5%, selling 1,496 shares in the third quarter, but retained 57,655 shares worth about $19.2 million; Apple remains its largest holding.
• Apple beat quarterly earnings and revenue estimates, reporting $2.10 per share and $114.48 billion in revenue, up 11.7% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $347.11. Recent insider share sales were disclosed as covering tax withholding on vested equity awards.

NovaPoint Capital LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,655 shares of the iPhone maker's stock after selling 1,496 shares during the quarter. Apple accounts for about 4.2% of NovaPoint Capital LLC's holdings, making the stock its largest position. NovaPoint Capital LLC's holdings in Apple were worth $19,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp increased 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 purchasing an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc bought a new stake in shares of Apple during the 2nd quarter worth $65,950,297,000. Bank of America Corp DE purchased a new position in shares of Apple in the 2nd quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple in the 2nd quarter worth about $30,443,242,000. Finally, Amundi boosted its holdings 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 buying an additional 13,780,080 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, insider Timothy Cook sold 191,753 shares of Apple stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the completion of the transaction, the insider 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 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 have sold 290,212 shares of company stock worth $96,639,685 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AAPL. Bank of America restated a "buy" rating and set a $370.00 price target on shares of Apple in a research report on Wednesday, September 23rd. Guggenheim set a $400.00 price objective on shares of Apple in a research report on Tuesday, November 3rd. Rothschild & Co Redburn set a $400.00 target price on shares of Apple and gave the company a "buy" rating in a research note on Monday, August 17th. Robert W. Baird set a $340.00 target price on shares of Apple and gave the company an "outperform" rating in a research note on Tuesday, November 3rd. Finally, Royal Bank Of Canada set a $365.00 target price on shares of Apple in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $347.11.

Apple Stock Performance

Shares of AAPL opened at $355.63 on Thursday. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $355.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.94. The stock's fifty day moving average price is $337.88 and its two-hundred day moving average price is $300.06. The firm has a market cap of $5.17 trillion, a PE ratio of 39.65, a PEG ratio of 3.35 and a beta of 1.07.

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, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $113.40 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 9.45 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be issued 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 yield of 0.3%. Apple's dividend payout ratio is 12.04%.

More Apple News

Here's some of the latest news about AAPL:

• Positive Sentiment: China Renaissance upgraded Apple to Buy from Hold and raised its price target to $425, citing growth potential from Apple’s first foldable iPhone. The bullish outlook helped support shares. Analyst raises Apple price target to $425
• Positive Sentiment: Reports point to strong iPhone demand and a record quarterly revenue result, while the foldable iPhone could provide a new growth opportunity. A faster Siri AI roadmap may also strengthen Apple’s longer-term product story.
• Negative Sentiment: Some analysts and commentators argue the shares look expensive after a strong run, raising the risk that high expectations could limit further gains if growth or margins disappoint. Apple shares look expensive heading into 2027

About Apple

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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