Apple Inc. $AAPL Stock: Cacti Asset Management LLC Lowers Holdings

Key Points

• Cacti Asset Management reduced its Apple position by 1.3% in the third quarter, selling 6,734 shares and retaining 499,400 shares valued at approximately $164.5 million. Apple remains its third-largest holding, representing 9.1% of its portfolio.
• Institutional ownership remains substantial at 67.73%, with major investors including State Street and Envestnet increasing their Apple stakes during the second quarter.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $340.39. Apple recently exceeded quarterly earnings and revenue expectations, while insiders have sold about $92.9 million in shares over the past three months.

Cacti Asset Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% 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 499,400 shares of the iPhone maker's stock after selling 6,734 shares during the period. Apple accounts for approximately 9.1% of Cacti Asset Management LLC's portfolio, making the stock its 3rd largest position. Cacti Asset Management LLC's holdings in Apple were worth $164,502,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AAPL. Marathon Mission Inc. boosted its position in shares of Apple by 2.2% in the 3rd quarter. Marathon Mission Inc. now owns 4,978 shares of the iPhone maker's stock valued at $1,658,000 after purchasing an additional 107 shares during the period. QRG Capital Management Inc. grew its stake in Apple by 10.5% during the 2nd quarter. QRG Capital Management Inc. now owns 2,659,362 shares of the iPhone maker's stock worth $771,119,000 after buying an additional 252,894 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Apple by 10.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 693,928 shares of the iPhone maker's stock worth $201,044,000 after buying an additional 67,072 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Apple by 9.8% during the second quarter. Envestnet Asset Management Inc. now owns 14,628,132 shares of the iPhone maker's stock worth $4,249,340,000 after buying an additional 1,304,406 shares during the period. Finally, State Street Corp increased its position in Apple by 4.7% during 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 during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In other news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $332.01, for a total transaction of $796,491.99. Following the completion of the sale, the senior vice president owned 39,593 shares in the company, valued at $13,145,271.93. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer directly owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 279,383 shares of company stock worth $92,912,517 over the last three months. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore set a $380.00 price objective on Apple and gave the company an "outperform" rating in a research note on Friday, September 18th. CICC Research increased their price objective on Apple from $310.00 to $340.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research report on Friday, September 25th. KeyCorp reaffirmed an "underweight" rating on shares of Apple in a report on Friday, September 4th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $400.00 target price on shares of Apple in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $340.39.

Apple Stock Performance

Shares of AAPL stock opened at $340.97 on Tuesday. The stock's 50-day moving average price is $323.36 and its 200 day moving average price is $303.99. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $4.98 trillion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same period last year, the firm earned $1.57 EPS. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's payout ratio is presently 12.39%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan raised its Apple price target from $340 to $360 and maintained an “Overweight” rating, citing improved iPhone 18 Pro demand. Bank of America reiterated its Buy rating and kept a $370 target, viewing potential Starlink competition as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Apple reportedly reached a 22% share of the global smartphone market in the third quarter, supported by premium iPhone 18 Pro demand despite an overall industry shipment decline. Reports of strong orders for a new foldable iPhone also provided an additional growth narrative. Apple Stock Nears Record High as iPhone Market Share Hits 22%
• Positive Sentiment: Investors are anticipating Apple’s expanded smart-home strategy, including a rumored HomeView hub and updated Apple TV and HomePod mini. A successful launch could strengthen Apple’s ecosystem and open a new product category. Will the HomeView Be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession is proceeding with John Ternus replacing Tim Cook, while Cook becomes executive chairman. Apple also met with Chinese officials, underscoring the importance of maintaining stable business and trade relations in its largest overseas market. Tim Cook Meets China’s Vice Premier
• Negative Sentiment: SpaceX’s planned Starlink mobile service could pressure wireless-carrier subsidies that support iPhone sales and eventually create a competing smartphone ecosystem. SpaceX’s Starlink Could Pose Risks to Apple
• Negative Sentiment: Reported supplier order reductions and rising memory costs are renewing concerns about iPhone 18 demand and margins. Google’s integration of wearable data with more than 160 lab tests also increases competition for Apple’s health-platform advantage. iPhone 18 Demand and Supplier Order Cuts

Apple Company Profile

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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