Apple Inc. $AAPL Stock: Fortitude Advisory Group L.L.C. Reduces Holdings

Key Points

• Fortitude Advisory Group cut its Apple holdings by 21.7% in the third quarter, selling 5,437 shares and retaining 19,662 shares valued at approximately $6.55 million. Apple remains about 2.6% of the firm’s portfolio.
• Other institutional investors increased their Apple positions, and institutions collectively own 67.73% of the company’s stock.
• Analysts maintain a generally positive outlook, with Apple rated “Moderate Buy” and an average price target of $340.59; several executives also sold shares to cover tax obligations tied to vested equity awards.

Fortitude Advisory Group L.L.C. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 21.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,662 shares of the iPhone maker's stock after selling 5,437 shares during the quarter. Apple makes up approximately 2.6% of Fortitude Advisory Group L.L.C.'s portfolio, making the stock its 4th largest holding. Fortitude Advisory Group L.L.C.'s holdings in Apple were worth $6,548,000 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. Davidson Capital Management Inc. lifted its stake in Apple by 125.5% in the third quarter. Davidson Capital Management Inc. now owns 11,799 shares of the iPhone maker's stock valued at $3,929,000 after acquiring an additional 6,567 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of Apple by 9.5% during the 3rd quarter. AdvisorNet Financial Inc now owns 142,652 shares of the iPhone maker's stock worth $48,659,000 after purchasing an additional 12,329 shares during the last quarter. Barlow Wealth Partners LLC increased its stake in shares of Apple by 3.8% during the 3rd quarter. Barlow Wealth Partners LLC now owns 122,065 shares of the iPhone maker's stock worth $40,584,000 after purchasing an additional 4,419 shares during the last quarter. Saxony Capital Management LLC raised its holdings in shares of Apple by 18.5% during the 3rd quarter. Saxony Capital Management LLC now owns 17,378 shares of the iPhone maker's stock valued at $5,787,000 after purchasing an additional 2,713 shares in the last quarter. Finally, Weaver Capital Management LLC raised its holdings in shares of Apple by 20.4% during the 3rd quarter. Weaver Capital Management LLC now owns 47,432 shares of the iPhone maker's stock valued at $15,722,000 after purchasing an additional 8,042 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AAPL shares. Yorkville Ives assumed coverage on shares of Apple in a research note on Tuesday, October 6th. They issued an "outperform" rating and a $400.00 price objective for the company. Rothschild & Co Redburn set a $400.00 target price on shares of Apple and gave the stock a "buy" rating in a research report on Monday, August 17th. JPMorgan Chase & Co. raised their target price on Apple from $340.00 to $360.00 and gave the company an "overweight" rating in a report on Monday, October 12th. KeyCorp reaffirmed an "underweight" rating on shares of Apple in a research report on Thursday, October 15th. Finally, Oppenheimer reiterated a "market perform" rating on shares of Apple in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $340.59.

Insider Transactions at Apple

In other news, CEO John Ternus sold 25,412 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares in the company, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. This trade represents a 25.32% decrease in their position. 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. Over the last three months, insiders have sold 286,853 shares of company stock valued at $95,477,342. Company insiders own 0.06% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple unveiled its first touchscreen MacBook Pro, featuring tandem OLED technology, up to 2,000-nit brightness, 120Hz refresh rates, and higher-end M5 Pro and M5 Max chips. The launch could support Mac revenue, premium pricing and a broader hardware upgrade cycle. Apple Stock: Slip Despite MacBook Pro Launch With Tandem OLED Display
• Positive Sentiment: Analyst support remains a modest tailwind. Monness, Crespi, Hardt raised its Apple price target to $355, while early iPhone 18 Pro sales were reportedly 3.1% above the prior model, including particularly strong growth in China. Wall Street Analyst Updates Apple Stock Target Ahead of Earnings
• Neutral Sentiment: Apple is approaching its November 2 earnings report after a lengthy run of earnings beats. Investors are looking for evidence that iPhone demand, services growth and artificial-intelligence initiatives can justify a valuation near 40 times earnings. Seeking Clues to Apple Q4 Earnings
• Negative Sentiment: The touchscreen MacBook Pro starts at approximately $2,899, raising concerns that premium pricing could limit adoption. Investors also face broader pressure from rising memory costs, expensive technology valuations and potentially higher interest rates. Apple's Touchscreen MacBook Pro Pushes Laptop Pricing Higher
• Negative Sentiment: Apple is offering replacements after reports that screens on its $1,999 foldable iPhone Duo cracked near the hinge. The issue threatens customer confidence and could increase warranty or recall costs just as the company launches a major new product category. Apple Shows First Touchscreen Laptops Amid Product Blitz
• Negative Sentiment: South Korea fined Apple and Google a combined $47.6 million for allegedly forcing developers toward their payment systems and delaying app reviews, adding to regulatory risks around Apple’s services business. South Korea Fines Google and Apple Over App Market Practices

Apple Stock Down 0.9%

AAPL stock opened at $343.83 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $351.73. The company has a 50-day moving average of $331.73 and a two-hundred day moving average of $295.51. The stock has a market capitalization of $5.02 trillion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.07.

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

Apple Profile

Apple Inc designs, develops and sells 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 applications that support its hardware ecosystem.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.

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