Apple Inc. $AAPL Stock Sold by Aire Advisors LLC

Key Points

• Aire Advisors reduced its Apple stake by 2.1% in the third quarter, selling 3,494 shares; it still held 165,230 shares worth about $55 million, with Apple remaining its largest portfolio position.
• Apple beat quarterly estimates, reporting $2.10 in earnings per share and $114.48 billion in revenue, up 11.7% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $343.74; Apple also declared a quarterly dividend of $0.27 per share.

Aire Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 165,230 shares of the iPhone maker's stock after selling 3,494 shares during the quarter. Apple makes up 8.7% of Aire Advisors LLC's portfolio, making the stock its biggest position. Aire Advisors LLC's holdings in Apple were worth $55,025,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Avenir Tech Ltd purchased a new stake in shares of Apple in the second quarter worth $29,000. Longfellow Investment Management Co. LLC bought a new position in Apple in the 2nd quarter worth about $30,000. Ironwood Wealth Management Inc. bought a new position in Apple in the 3rd quarter worth about $34,000. Ascentis Wealth Management LLC grew its position in Apple by 822.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock valued at $85,000 after purchasing an additional 260,792 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in Apple during the 2nd quarter valued at about $118,000. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

AAPL opened at $350.69 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.93 and a current ratio of 1.02. The stock has a market capitalization of $5.10 trillion, a P/E ratio of 39.67, a P/E/G ratio of 3.30 and a beta of 1.07. The company's 50-day simple moving average is $336.63 and its two-hundred day simple moving average is $299.02. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $355.38.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 12th will be issued 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 is Thursday, November 12th. Apple's dividend payout ratio is presently 12.04%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Sanford C. Bernstein increased their price target on shares of Apple from $370.00 to $380.00 and gave the company a "buy" rating in a report on Wednesday, November 4th. Yorkville Ives started coverage on shares of Apple in a report on Tuesday, October 6th. They set an "outperform" rating and a $400.00 price target on the stock. TD Cowen reduced their price target on shares of Apple from $400.00 to $390.00 and set a "buy" rating for the company in a research report on Tuesday, November 3rd. Finally, Evercore restated an "outperform" rating on shares of Apple in a report on Tuesday, October 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $343.74.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported quarterly revenue of $114.48 billion and EPS of $2.10, topping estimates, with double-digit growth in hardware and services. Article
• Positive Sentiment: Apple Intelligence cleared a Chinese regulatory step for use on tablets and laptops, potentially expanding the service’s reach in a major market. Article
• Positive Sentiment: Apple has begun offering $49.99 add-on packs for extra AI usage in Creator Studio, a potential new revenue stream from its AI features. Article
• Positive Sentiment: Commentary points to resilient iPhone demand and Apple’s comparatively restrained AI spending as advantages amid investor concerns about heavy AI investment elsewhere. Article
• Neutral Sentiment: Apple issued $7.5 billion in senior unsecured notes. The financing provides capital but also adds debt; the announcement does not specify a direct operating catalyst. Article
• Negative Sentiment: Reports warn that rising memory-chip costs could pressure margins, while some analysts question whether Apple’s valuation leaves limited room for further gains. Article

Insider Transactions at Apple

In other news, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $332.01, for a total value of $796,491.99. Following the transaction, the senior vice president directly owned 39,593 shares in the company, valued at $13,145,271.93. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Ternus sold 25,412 shares of the firm'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 completion of the transaction, the chief executive officer owned 59,567 shares in the company, valued at approximately $19,832,236.98. This trade represents a 29.90% 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 sold 290,212 shares of company stock valued at $96,639,685 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Company 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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