Apple Inc. $AAPL Stock Purchased by Parkside Investments LLC

Key Points

• Parkside Investments increased its Apple stake by 12.2% in the third quarter, adding 7,084 shares to hold 65,356 shares worth about $21.8 million.
• Apple beat quarterly earnings and revenue estimates, with sales up 11.7% year over year, but warned that rising memory-chip costs and supply constraints could pressure holiday-quarter margins.
• Analyst views are mostly positive: Apple has a “Moderate Buy” consensus rating and a $343.74 average price target; Bernstein recently raised its target to $380.

Parkside Investments LLC grew its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,356 shares of the iPhone maker's stock after acquiring an additional 7,084 shares during the quarter. Apple accounts for about 2.5% of Parkside Investments LLC's holdings, making the stock its 7th largest position. Parkside Investments LLC's holdings in Apple were worth $21,765,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Sterling Wealth Management Inc. lifted its position in Apple by 0.3% in the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker's stock worth $3,351,000 after purchasing an additional 30 shares during the period. Thor Investment Management Inc. OH ADV boosted its stake in Apple by 1.6% during the third quarter. Thor Investment Management Inc. OH ADV now owns 1,912 shares of the iPhone maker's stock worth $637,000 after buying an additional 30 shares in the last quarter. Evansbrook LLC increased its holdings in Apple by 0.4% in the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock valued at $2,054,000 after buying an additional 34 shares during the period. JMG Financial Group Ltd. increased its holdings in Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock valued at $1,295,000 after buying an additional 35 shares during the period. Finally, Wealth Forward LLC raised its stake in shares of Apple by 0.3% in the 3rd quarter. Wealth Forward LLC now owns 13,327 shares of the iPhone maker's stock valued at $4,438,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, CEO John Ternus sold 25,412 shares of the business's 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 transaction, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total value of $806,495.82. Following the sale, the senior vice president owned 41,992 shares in the company, valued at $14,116,870.56. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 291,651 shares of company stock worth $97,082,537. 0.06% of the stock is owned by company insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue estimates, with solid iPhone and Mac demand. Apple also says more apps optimized for its new foldable iPhone are coming, potentially improving the product’s appeal. Apple earnings beat
• Positive Sentiment: Apple has held up better than many chipmakers amid the AI-stock sell-off, and Bernstein raised its price target to $380 while maintaining a Buy rating. This relative strength may support investor sentiment. Apple holds up amid market weakness
• Neutral Sentiment: Apple is reportedly seeking about $7.5 billion through a bond offering. The financing provides flexibility, though the reports do not specify its use. The company is also limiting some employees’ AI-tool budgets, a move that could help control costs but raises questions about its internal AI investment. Apple bond sale report
• Negative Sentiment: Management warned of unprecedented memory-chip costs and supply constraints heading into the holiday quarter, putting gross margins at risk despite healthy demand. Investors are also weighing slower Services growth and Apple’s premium valuation. Memory costs and supply constraints

Apple Stock Performance

NASDAQ AAPL opened at $342.37 on Friday. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $355.38. The company has a 50 day moving average of $336.01 and a 200-day moving average of $298.50. The company has a current ratio of 1.02, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm has a market cap of $4.98 trillion, a price-to-earnings ratio of 38.17, a PEG ratio of 3.21 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.99 by $0.11. The business had revenue of $114.48 billion for the quarter, compared to the consensus estimate of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. Apple's revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. On average, equities analysts forecast that Apple Inc. will post 9.68 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, November 12th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's payout ratio is presently 12.04%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AAPL shares. Sanford C. Bernstein raised their price objective on shares of Apple from $370.00 to $380.00 and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company reiterated an "overweight" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research report on Friday, July 31st. Oppenheimer reissued a "market perform" rating on shares of Apple in a research note on Thursday, September 10th. Weiss Ratings raised shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average target price of $343.74.

Apple 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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