Apple Inc. $AAPL Shares Sold by Steinberganna Wealth Management

Steinberganna Wealth Management trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 58.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,947 shares of the iPhone maker's stock after selling 28,359 shares during the period. Apple accounts for 2.9% of Steinberganna Wealth Management's investment portfolio, making the stock its 4th biggest holding. Steinberganna Wealth Management's holdings in Apple were worth $6,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospect Hill Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at about $146,370,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Apple in the second quarter worth approximately $168,646,000. Wealthfront Advisers LLC acquired a new stake in shares of Apple during the second quarter worth approximately $482,388,000. Satovsky Asset Management LLC acquired a new stake in shares of Apple during the second quarter worth approximately $16,064,000. Finally, Gouws Capital LLC boosted its holdings in shares of Apple by 136.9% during the third quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker's stock worth $12,490,000 after purchasing an additional 21,676 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ben Borders sold 1,280 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $345.40, for a total transaction of $442,112.00. Following the transaction, the insider owned 38,288 shares in the company, valued at $13,224,675.20. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $351.36, for a total transaction of $842,912.64. Following the transaction, the senior vice president owned 27,598 shares in the company, valued at approximately $9,696,833.28. This trade represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 292,611 shares of company stock valued at $97,482,597. 0.06% of the stock is owned by company insiders.

Key Headlines Impacting Apple

These are some of the AAPL headlines that stood out recently:

• Positive Sentiment: Bernstein cited Apple’s relatively defensive business as a safe haven amid an AI-sector selloff, helping attract investors as Nvidia weakness put pressure on technology stocks. Apple stock gains as Bernstein highlights safe-haven appeal
• Positive Sentiment: Apple’s new $299 HomeView and Apple TV devices, featuring Siri AI, began reaching customers Friday, offering a potential new product and ecosystem catalyst ahead of the holiday season. Apple devices hit shelves
• Positive Sentiment: China Renaissance upgraded Apple to Buy and set a $425 price target, pointing to potential from a future foldable iPhone and interest in the company’s product lineup. Recent quarterly results also beat earnings and revenue estimates, with revenue up year over year. China Renaissance’s view on Apple

Apple Stock Up 0.4%

Shares of NASDAQ AAPL traded up $1.39 during trading hours on Friday, hitting $356.27. The stock had a trading volume of 39,967,159 shares, compared to its average volume of 48,203,272. The company has a market capitalization of $5.18 trillion, a P/E ratio of 39.72, a P/E/G ratio of 3.41 and a beta of 1.07. The firm's 50-day moving average price is $339.04 and its two-hundred day moving average price is $301.05. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $360.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.94 and a current ratio of 1.02.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.11. The firm had revenue of $114.48 billion for the quarter, compared to the consensus estimate of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. The firm's revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 earnings per share. Analysts anticipate that Apple Inc. will post 9.45 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 12th. Apple's payout ratio is currently 12.04%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. UBS Group reiterated a "neutral" rating and issued a $340.00 price objective (up from $296.00) on shares of Apple in a research note on Tuesday, November 3rd. DA Davidson increased their target price on shares of Apple from $270.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 3rd. CICC Research lifted their target price on shares of Apple from $310.00 to $340.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. TD Cowen lowered their price target on shares of Apple from $400.00 to $390.00 and set a "buy" rating on the stock in a report on Tuesday, November 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $347.11.

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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