Apple Inc. $AAPL Stake Lifted by Catalyst Investment Management LLC

Key Points

• Catalyst Investment Management increased its Apple stake by 42.1% in the third quarter, adding 2,585 shares to hold 8,728 shares valued at about $2.91 million.
• Apple beat quarterly expectations, reporting earnings of $2.10 per share and revenue of $114.48 billion; revenue rose 11.7% year over year.
• Apple insiders sold 291,651 shares worth about $97.1 million over the past 90 days. The article says named executives’ sales were to cover tax withholding on vested equity awards.

Catalyst Investment Management LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 42.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,728 shares of the iPhone maker's stock after purchasing an additional 2,585 shares during the period. Apple comprises about 2.6% of Catalyst Investment Management LLC's portfolio, making the stock its 14th largest holding. Catalyst Investment Management LLC's holdings in Apple were worth $2,907,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Avenir Tech Ltd acquired a new stake in shares of Apple in the second quarter valued at about $29,000. Ironwood Wealth Management Inc. acquired a new position in Apple during the third quarter valued at approximately $34,000. Longfellow Investment Management Co. LLC acquired a new position in Apple during the second quarter valued at approximately $30,000. ABS Investment Management LLC bought a new position in Apple in the second quarter valued at approximately $376,168,000. Finally, Bamco Inc. NY acquired a new position in shares of Apple during the 2nd quarter worth approximately $118,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Ternus sold 25,412 shares of the stock in a transaction 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 transaction, the chief executive officer owned 59,567 shares in the company, valued at $19,832,236.98. The trade was a 29.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 291,651 shares of company stock worth $97,082,537 in the last 90 days. Company insiders own 0.06% of the company's stock.

Apple Stock Performance

AAPL opened at $342.37 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $355.38. The business has a 50 day moving average of $336.01 and a 200-day moving average of $298.50. The stock has a market cap of $4.98 trillion, a price-to-earnings ratio of 38.17, a PEG ratio of 3.22 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.11. Apple had a net margin of 27.60% and a return on equity of 125.35%. The business had revenue of $114.48 billion for the quarter, compared to analyst estimates of $113.40 billion. During the same quarter in the prior year, the business earned $1.85 EPS. Apple's quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 9.68 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's dividend payout ratio (DPR) is 12.04%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue estimates, with solid iPhone and Mac demand. Apple also says more apps optimized for its new foldable iPhone are coming, potentially improving the product’s appeal. Apple earnings beat
• Positive Sentiment: Apple has held up better than many chipmakers amid the AI-stock sell-off, and Bernstein raised its price target to $380 while maintaining a Buy rating. This relative strength may support investor sentiment. Apple holds up amid market weakness
• Neutral Sentiment: Apple is reportedly seeking about $7.5 billion through a bond offering. The financing provides flexibility, though the reports do not specify its use. The company is also limiting some employees’ AI-tool budgets, a move that could help control costs but raises questions about its internal AI investment. Apple bond sale report
• Negative Sentiment: Management warned of unprecedented memory-chip costs and supply constraints heading into the holiday quarter, putting gross margins at risk despite healthy demand. Investors are also weighing slower Services growth and Apple’s premium valuation. Memory costs and supply constraints

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Argus upped their price objective on Apple from $375.00 to $400.00 and gave the stock a "buy" rating in a research note on Tuesday, November 3rd. Barclays raised their target price on shares of Apple from $245.00 to $261.00 and gave the company an "underweight" rating in a research note on Tuesday, November 3rd. Royal Bank Of Canada set a $365.00 price target on shares of Apple in a research report on Wednesday, July 15th. Rothschild & Co Redburn set a $400.00 price target on shares of Apple and gave the company a "buy" rating in a research note on Monday, August 17th. Finally, Maxim Group lifted their price objective on shares of Apple from $350.00 to $380.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $343.74.

Apple Profile

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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