Apple Inc. $AAPL Stock: Atticus Wealth Management LLC Raises Position

Key Points

• Atticus Wealth Management increased its Apple stake 5% in the third quarter, adding 2,447 shares to reach 51,290 shares valued at about $17.1 million; Apple is 3.7% of its portfolio.
• Apple beat quarterly estimates, reporting EPS of $2.10 and revenue of $114.48 billion, up 11.7% year over year. However, management warned that memory-chip costs and supply constraints could pressure holiday-quarter margins.
• Apple insiders sold 291,651 shares worth about $97.1 million over the last quarter; the reported sales were made to cover tax withholding on vested equity awards.

Atticus Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,290 shares of the iPhone maker's stock after acquiring an additional 2,447 shares during the period. Apple accounts for approximately 3.7% of Atticus Wealth Management LLC's portfolio, making the stock its 5th biggest holding. Atticus Wealth Management LLC's holdings in Apple were worth $17,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Wealth Management Inc. grew its position in shares of Apple by 0.3% in the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker's stock valued at $3,351,000 after purchasing an additional 30 shares during the period. Thor Investment Management Inc. OH ADV lifted its position in Apple by 1.6% during the third quarter. Thor Investment Management Inc. OH ADV now owns 1,912 shares of the iPhone maker's stock worth $637,000 after buying an additional 30 shares during the period. Evansbrook LLC lifted its position in Apple by 0.4% during the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock worth $2,054,000 after buying an additional 34 shares during the period. JMG Financial Group Ltd. boosted its stake in Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock worth $1,295,000 after buying an additional 35 shares during the last quarter. Finally, Wealth Forward LLC boosted its stake in Apple by 0.3% in the 3rd quarter. Wealth Forward LLC now owns 13,327 shares of the iPhone maker's stock worth $4,438,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

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 value of $442,112.00. Following the completion of the sale, the insider owned 38,288 shares of the company's stock, valued at $13,224,675.20. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction 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 transaction, the senior vice president directly owned 136,810 shares in the company, valued at approximately $45,615,190.20. This represents a 25.32% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 291,651 shares of company stock valued at $97,082,537 over the last quarter. Company insiders own 0.06% of the company's stock.

Key Apple News

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

Apple Stock Performance

Apple stock opened at $342.37 on Friday. The company has a market cap of $4.98 trillion, a price-to-earnings ratio of 38.17, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.93. The stock's 50-day moving average is $336.01 and its 200-day moving average is $298.50.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.11. The business had revenue of $114.48 billion during the quarter, compared to analysts' expectations of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. The company's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. Equities analysts anticipate that Apple Inc. will post 9.68 earnings per share 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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple's payout ratio is currently 12.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on AAPL. China Renaissance cut Apple from a "buy" rating to a "hold" rating and lowered their price target for the company from $329.00 to $280.00 in a report on Tuesday, August 4th. JPMorgan Chase & Co. cut their price objective on shares of Apple from $360.00 to $355.00 and set an "overweight" rating on the stock in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft cut shares of Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Citigroup reissued a "buy" rating on shares of Apple in a research report on Thursday, September 10th. Finally, Moffett Nathanson set a $283.00 target price on shares of Apple and gave the company a "neutral" rating in a report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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