Apple Inc. $AAPL Stock Holdings Reduced by Giverny Capital Inc.

Key Points

• Giverny Capital reduced its Apple stake by 13.6% in the second quarter, selling 2,045 shares and retaining 12,995 shares valued at approximately $3.76 million.
• Institutional investors own 67.73% of Apple, while several major firms—including Berkshire Hathaway and Bank of America—reported acquiring significant positions during the quarter.
• Wall Street’s consensus remains positive, with an average “Moderate Buy” rating and a $340.02 price target. Apple also exceeded quarterly earnings and revenue expectations, reporting $2.02 in EPS and $109.42 billion in revenue.

Giverny Capital Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 12,995 shares of the iPhone maker's stock after selling 2,045 shares during the period. Giverny Capital Inc.'s holdings in Apple were worth $3,760,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Berkshire Hathaway Inc acquired a new stake in shares of Apple during the 2nd quarter worth about $65,950,297,000. Bank of America Corp DE acquired a new position in Apple in the second quarter valued at about $36,986,090,000. Legal & General Group Plc acquired a new position in Apple in the second quarter valued at about $30,443,242,000. Deutsche Bank AG purchased a new position in Apple during the second quarter worth about $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Apple during the second quarter valued at about $10,588,946,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AAPL shares. JPMorgan Chase & Co. reissued a "buy" rating on shares of Apple in a research note on Monday, September 21st. Evercore set a $380.00 price objective on shares of Apple and gave the stock an "outperform" rating in a research report on Friday, September 18th. KeyCorp reiterated an "underweight" rating on shares of Apple in a report on Friday, September 4th. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Finally, Raymond James Financial restated a "market perform" rating on shares of Apple in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $340.02.

Apple Trading Down 1.1%

AAPL opened at $336.64 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple Inc. has a one year low of $243.42 and a one year high of $345.34. The company has a market cap of $4.91 trillion, a P/E ratio of 38.61, a PEG ratio of 2.71 and a beta of 1.07. The business's 50-day simple moving average is $322.61 and its 200-day simple moving average is $302.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.57 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given 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 was Monday, August 10th. Apple's payout ratio is currently 12.39%.

Insider Activity at Apple

In related news, insider Timothy D. Cook sold 191,753 shares of the business's 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 directly owned 3,264,168 shares of the company's stock, valued at $1,086,837,377.28. The trade was a 5.55% decrease in their ownership of the stock. The sale 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, CEO John Ternus sold 25,412 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares of the company's stock, valued at $19,832,236.98. This 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 have sold 279,383 shares of company stock worth $92,912,517. Corporate insiders own 0.06% of the company's stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Apple 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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