Apple Inc. $AAPL Stock: General Partner Inc. Cuts Holdings

Key Points

• General Partner Inc. reduced its Apple position by 19.5% in the third quarter, selling 9,175 shares and retaining 37,880 shares valued at approximately $12.6 million. Apple remains the fund’s second-largest holding and represents 7.1% of its portfolio.
• Apple reported quarterly earnings of $2.02 per share on revenue of $109.42 billion, exceeding analyst expectations, while revenue increased 16.4% year over year. Institutional investors and hedge funds own 67.73% of the stock.
• Analyst sentiment remains favorable, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $340.39. Recent insider stock sales, including transactions by CEO Tim Cook, were made to cover tax obligations tied to equity awards.

General Partner Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 19.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,880 shares of the iPhone maker's stock after selling 9,175 shares during the quarter. Apple accounts for about 7.1% of General Partner Inc.'s portfolio, making the stock its 2nd largest holding. General Partner Inc.'s holdings in Apple were worth $12,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp lifted 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 valued at $182,897,769,000 after purchasing an additional 28,321,085 shares during the period. Berkshire Hathaway Inc acquired a new stake in Apple during the 2nd quarter worth about $65,950,297,000. Bank of America Corp DE acquired a new stake in Apple during the 2nd quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple during the 2nd quarter valued at about $30,443,242,000. Finally, Amundi raised its stake in shares of Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after buying an additional 13,780,080 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ:AAPL opened at $341.27 on Wednesday. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $348.15. 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 39.14, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07. The stock's 50-day moving average price is $324.00 and its 200-day moving average price is $304.61.

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

Apple Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Timothy Cook sold 191,753 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the transaction, the insider owned 3,264,168 shares in the company, valued at $1,086,837,377.28. This trade represents a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Apple 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 sale, the senior vice president directly owned 136,810 shares in the company, valued at $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. Over the last quarter, insiders have sold 279,383 shares of company stock worth $92,912,517. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on AAPL shares. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Tuesday, October 6th. JPMorgan Chase & Co. boosted their price target on Apple from $340.00 to $360.00 and gave the company an "overweight" rating in a report on Monday. Deutsche Bank Aktiengesellschaft lowered Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Rothschild & Co Redburn set a $400.00 price objective on shares of Apple and gave the stock a "buy" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average target price of $340.39.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple launched the $299 HomeView smart-home hub, featuring an upgraded Siri AI assistant, along with a new Apple TV 4K, HomePod mini 2, cameras, a video doorbell, smart lock, thermostat and other accessories. The products expand Apple’s ecosystem into the home and provide a potential new source of hardware and services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Partnerships with LG Electronics and Schneider Electric broaden the Apple Home Collection, including security, energy-management and access-control products that could increase engagement with iPhones, Apple Watches and other Apple devices. LG announces smart-home accessories developed with Apple
• Positive Sentiment: Analyst support remains favorable. Bernstein reiterated a Buy rating with a $370 target, while JPMorgan raised its target to $360. Reports also indicate Apple’s iPhone market share reached 22% in the latest quarter, and iPhone 18 Pro demand may be stronger than last year. Bernstein reiterates Buy rating on Apple
• Positive Sentiment: A federal judge ordered OpenAI to provide hiring records and other materials in Apple’s trade-secrets lawsuit, potentially helping Apple investigate the recruitment of former employees and its claims against OpenAI. Judge orders OpenAI to turn over hiring records
• Neutral Sentiment: Investors are awaiting iPhone Duo preorders on October 16. Strong purchase intent could support the stock, but pricing and delivery trends will be closely watched.
• Negative Sentiment: Some suppliers are reportedly cutting production of newer iPhone models, while shorter delivery windows for Pro models raise questions about demand. Apple’s shares also trade at a demanding valuation, leaving less room for disappointing December-quarter guidance.
• Negative Sentiment: Analysts warn that SpaceX’s potential Starlink smartphone and Google’s expanding health-data platform could intensify competition in wireless services, wearables and ecosystem engagement over time.

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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