Apple Inc. $AAPL Shares Sold by Private Client Services LLC

Key Points

• Private Client Services LLC reduced its Apple stake by 10.7% in the third quarter, selling 2,030 shares and retaining 16,885 shares valued at approximately $5.6 million. Institutional investors collectively own 67.73% of Apple.
• Apple insiders sold 279,383 shares worth about $92.9 million during the latest quarter, including CEO John Ternus’s $8.46 million sale to cover tax obligations related to vested equity awards.
• Apple reported better-than-expected quarterly results, with $2.02 EPS and $109.42 billion in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $340.39. Shares recently traded near $341.27, close to the company’s 52-week high.

Private Client Services LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,885 shares of the iPhone maker's stock after selling 2,030 shares during the quarter. Apple accounts for approximately 1.5% of Private Client Services LLC's holdings, making the stock its 14th biggest holding. Private Client Services LLC's holdings in Apple were worth $5,623,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CEO John Ternus sold 25,412 shares of the company's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares in the company, valued at $19,832,236.98. This represents a 29.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Apple stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the sale, the senior vice president directly owned 41,992 shares in the company, valued at approximately $14,116,870.56. This trade represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 279,383 shares of company stock worth $92,912,517. Corporate insiders own 0.06% of the company's stock.

Apple Trading Up 0.1%

Shares of AAPL opened at $341.27 on Wednesday. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $348.15. The company has a 50-day moving average of $324.00 and a 200 day moving average of $304.61. The firm has a market capitalization of $4.98 trillion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.72 and a beta of 1.07. 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 (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating 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 business had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter last year, the firm earned $1.57 EPS. The business's revenue for the quarter was up 16.4% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 8.75 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date 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 (DPR) is presently 12.39%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple launched the $299 HomeView smart-home hub, featuring an upgraded Siri AI assistant, along with a new Apple TV 4K, HomePod mini 2, cameras, a video doorbell, smart lock, thermostat and other accessories. The products expand Apple’s ecosystem into the home and provide a potential new source of hardware and services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Partnerships with LG Electronics and Schneider Electric broaden the Apple Home Collection, including security, energy-management and access-control products that could increase engagement with iPhones, Apple Watches and other Apple devices. LG announces smart-home accessories developed with Apple
• Positive Sentiment: Analyst support remains favorable. Bernstein reiterated a Buy rating with a $370 target, while JPMorgan raised its target to $360. Reports also indicate Apple’s iPhone market share reached 22% in the latest quarter, and iPhone 18 Pro demand may be stronger than last year. Bernstein reiterates Buy rating on Apple
• Positive Sentiment: A federal judge ordered OpenAI to provide hiring records and other materials in Apple’s trade-secrets lawsuit, potentially helping Apple investigate the recruitment of former employees and its claims against OpenAI. Judge orders OpenAI to turn over hiring records
• Neutral Sentiment: Investors are awaiting iPhone Duo preorders on October 16. Strong purchase intent could support the stock, but pricing and delivery trends will be closely watched.
• Negative Sentiment: Some suppliers are reportedly cutting production of newer iPhone models, while shorter delivery windows for Pro models raise questions about demand. Apple’s shares also trade at a demanding valuation, leaving less room for disappointing December-quarter guidance.
• Negative Sentiment: Analysts warn that SpaceX’s potential Starlink smartphone and Google’s expanding health-data platform could intensify competition in wireless services, wearables and ecosystem engagement over time.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. CICC Research lifted their target price on shares of Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Thursday, October 1st. Phillip Securities increased their price target on Apple from $290.00 to $300.00 and gave the stock a "neutral" rating in a research note on Monday, September 14th. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Thursday, September 10th. Finally, Daiwa Securities Group lifted their price objective on shares of Apple from $325.00 to $335.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.39.

About Apple

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.

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