Apple Inc. $AAPL Stock: SLT Holdings LLC Trims Position

Key Points

• SLT Holdings LLC reduced its Apple stake by 4.4% in the third quarter, selling 1,698 shares and retaining 37,327 shares valued at approximately $12.4 million. Apple remains the fund’s second-largest holding, representing about 7.1% of its portfolio.
• Institutional investors own 67.73% of Apple, with State Street increasing its position by 4.7% and Amundi raising its stake by 23.2%. Apple’s shares opened at $343.83, near the top of their 52-week range.
• Apple exceeded quarterly earnings expectations, reporting $2.02 in EPS and $109.42 billion in revenue, while revenue grew 16.4% year over year. Analysts maintain a “Moderate Buy” consensus with a $340.59 average price target, despite mixed ratings and recent insider sales.

SLT Holdings LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,327 shares of the iPhone maker's stock after selling 1,698 shares during the period. Apple accounts for approximately 7.1% of SLT Holdings LLC's portfolio, making the stock its 2nd biggest holding. SLT Holdings LLC's holdings in Apple were worth $12,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of 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 in the last quarter. Berkshire Hathaway Inc acquired a new position in shares of Apple in the second quarter valued at approximately $65,950,297,000. Bank of America Corp DE acquired a new position in shares of Apple in the second quarter valued at approximately $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple during the second quarter valued at approximately $30,443,242,000. Finally, Amundi lifted its stake in shares of Apple by 23.2% during the first 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 period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.9%

Shares of AAPL opened at $343.83 on Thursday. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $351.73. The company's fifty day moving average is $331.73 and its two-hundred day moving average is $295.51. The firm has a market cap of $5.02 trillion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. The business 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 business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. Analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Insider Transactions at Apple

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the sale, the senior vice president directly owned 41,992 shares in the company, valued at $14,116,870.56. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Timothy D. Cook sold 191,753 shares of the firm's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the transaction, the insider owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This trade represents a 5.55% 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 a total of 286,853 shares of company stock worth $95,477,342 over the last ninety days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Thursday, October 1st. KeyCorp reiterated an "underweight" rating on shares of Apple in a report on Thursday, October 15th. Jefferies Financial Group reiterated an "underperform" rating on shares of Apple in a report on Wednesday, September 9th. TD Cowen reissued a "buy" rating and set a $400.00 price target on shares of Apple in a research note on Thursday, September 10th. Finally, Evercore restated an "outperform" rating on shares of Apple in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $340.59.

Key Apple News

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 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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