Apple Inc. $AAPL Stock Bought by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors increased its Apple stake by 0.5%, adding 2,142 shares to hold 422,064 shares valued at about $140.6 million; Apple is its fourth-largest portfolio position.
• Other institutional investors also increased their holdings, and institutions collectively own 67.73% of Apple’s shares.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $347.11. Apple’s latest reported quarter beat earnings and revenue estimates, with revenue up 11.7% year over year.

Fifth Third Wealth Advisors LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 422,064 shares of the iPhone maker's stock after buying an additional 2,142 shares during the quarter. Apple makes up 3.6% of Fifth Third Wealth Advisors LLC's investment portfolio, making the stock its 4th largest position. Fifth Third Wealth Advisors LLC's holdings in Apple were worth $140,556,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AAPL. Opulen Financial Group LLC increased its position in Apple by 13.6% during the 3rd quarter. Opulen Financial Group LLC now owns 6,401 shares of the iPhone maker's stock worth $2,132,000 after purchasing an additional 768 shares in the last quarter. TSA Wealth Managment LLC raised its holdings in Apple by 4.0% in the third quarter. TSA Wealth Managment LLC now owns 11,195 shares of the iPhone maker's stock valued at $3,728,000 after buying an additional 426 shares during the period. Core Wealth Management Inc. lifted its position in Apple by 7.6% during the third quarter. Core Wealth Management Inc. now owns 4,523 shares of the iPhone maker's stock valued at $1,506,000 after buying an additional 319 shares in the last quarter. XXI Wealth LLC lifted its position in Apple by 8.9% during the third quarter. XXI Wealth LLC now owns 37,673 shares of the iPhone maker's stock valued at $12,546,000 after buying an additional 3,073 shares in the last quarter. Finally, BIP Wealth LLC lifted its position in Apple by 3.8% during the third quarter. BIP Wealth LLC now owns 125,602 shares of the iPhone maker's stock valued at $41,828,000 after buying an additional 4,571 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several research reports. Weiss Ratings upgraded shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Monness Crespi & Hardt reissued a "buy" rating and issued a $355.00 target price on shares of Apple in a research note on Wednesday, October 28th. Jefferies Financial Group restated an "underperform" rating on shares of Apple in a report on Wednesday, September 9th. Bank of America reaffirmed a "buy" rating and set a $370.00 price target on shares of Apple in a research report on Wednesday, September 23rd. Finally, Deutsche Bank cut shares of Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. 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. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $347.11.

Latest Apple News

Here's some of the latest news about AAPL:

• Positive Sentiment: Apple recently reached a record high, with one analyst describing the stock as a “safe haven” amid market turmoil. CIBC also included AAPL among its post-election stock picks. Apple Stock Called 'Safe Haven,' Hits Record High
• Neutral Sentiment: Google is bringing its Gemini assistant to Apple CarPlay, adding a new AI feature for iPhone users. The partnership may improve CarPlay’s utility, though the assistant is Google’s service rather than Apple’s. Google Brings Gemini Live to Apple CarPlay
• Negative Sentiment: Higher memory-chip prices are a near-term margin risk. Apple’s December-quarter gross-margin outlook was reported below analyst expectations, despite record quarterly sales, raising concerns that component costs could weigh on profitability. Why Apple Stock Fell Despite a Record Quarter

Apple Stock Down 0.2%

Shares of NASDAQ AAPL opened at $354.88 on Friday. 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 Inc. has a 1 year low of $243.42 and a 1 year high of $359.37. The stock's 50-day simple moving average is $338.48 and its 200-day simple moving average is $300.56. The firm has a market cap of $5.16 trillion, a price-to-earnings ratio of 39.56, a PEG ratio of 3.42 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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 return on equity of 125.35% and a net margin of 27.60%. The firm 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 business posted $1.85 earnings per share. Apple's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 9.45 earnings per share 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 12th. Apple's dividend payout ratio is presently 12.04%.

Insiders Place Their Bets

In related news, insider Timothy D. Cook sold 191,753 shares of Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the sale, the insider owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Apple stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the sale, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This trade represents 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. In the last quarter, insiders sold 292,611 shares of company stock valued at $97,482,597. Company insiders own 0.06% of the company's stock.

Apple Company 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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