Apple Inc. $AAPL Stock Sold by Cullinan Associates Inc.

Key Points

• Cullinan Associates reduced its Apple stake by 4.7%, selling 18,761 shares and retaining 382,145 shares valued at approximately $110.6 million. Apple remains the fund’s largest holding, representing 8.4% of its portfolio.
• Apple reported quarterly earnings of $2.02 per share and revenue of $109.42 billion, exceeding analyst expectations; revenue increased 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $340.02, although some firms cited valuation and cost concerns. Separately, Apple SVP Jennifer Newstead sold 2,399 shares worth about $806,496.

Cullinan Associates Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 382,145 shares of the iPhone maker's stock after selling 18,761 shares during the quarter. Apple accounts for 8.4% of Cullinan Associates Inc.'s investment portfolio, making the stock its biggest holding. Cullinan Associates Inc.'s holdings in Apple were worth $110,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AAPL. Avenir Tech Ltd purchased a new position in Apple in the 2nd quarter valued at $29,000. Longfellow Investment Management Co. LLC purchased a new position in Apple during the 2nd quarter worth $30,000. Lifetime Wealth Management P.C. purchased a new position in Apple during the 4th quarter worth $41,000. ABS Investment Management LLC acquired a new stake in shares of Apple in the 2nd quarter worth $376,168,000. Finally, Basso Capital Management L.P. acquired a new stake in shares of Apple in the 4th quarter worth $88,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Down 0.8%

Shares of NASDAQ AAPL opened at $330.32 on Friday. 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 Inc. has a 52 week low of $243.42 and a 52 week high of $345.34. The firm has a 50-day moving average price of $322.14 and a 200 day moving average price of $299.78. The stock has a market capitalization of $4.82 trillion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 2.89 and a beta of 1.07.

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. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The firm's revenue was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's payout ratio is 12.39%.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Moffett Nathanson reiterated a "neutral" rating and set a $304.00 price target (up from $270.00) on shares of Apple in a research note on Tuesday, September 8th. Maxim Group raised their price objective on shares of Apple from $350.00 to $380.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Morgan Stanley set a $355.00 price objective on Apple and gave the company an "overweight" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft cut Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Loop Capital set a $380.00 target price on Apple in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $340.02.

Insider Buying and Selling at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred 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. This represents a 5.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 13,430 shares of company stock valued at $4,342,255. 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: Apple’s new fall product cycle is supporting revenue expectations. Morgan Stanley modestly raised its revenue forecast following the product launches, while Counterpoint expects approximately 6 million units of Apple’s $1,999 iPhone Duo foldable to be sold this year. Strong early iPhone 18 Pro demand in China—up 12% year over year during launch week—also supports near-term sales momentum. Apple’s Fall Product Cycle Could Support Revenue Growth
• Positive Sentiment: Apple is expanding its ecosystem beyond the iPhone. Health-focused Apple Watch features, including a health-age metric and Readiness score, could help defend its wearables lead, while a planned October 13 smart-home event may introduce a new hub centered on Siri and Apple Intelligence. Apple Is Betting Improved Heart and Health Insights Will Boost Watch Sales
• Neutral Sentiment: Morgan Stanley lowered its Apple price target to $355 from $360 but retained an Overweight rating. Analysts cited higher memory and component costs and potential iPhone pricing pressure, which largely offset the benefit from stronger product revenue. Morgan Stanley Adjusts Price Target on Apple
• Negative Sentiment: A jury ordered Apple to pay $5.7 billion over Taptic Engine patent claims, raising concerns about additional royalties and pressure on hardware margins. The company also faces a UK marketplace class action. Apple’s $5.7 Billion Patent Verdict Raises a Bigger Royalty Question
• Negative Sentiment: Investors remain concerned that AI agents such as Meta’s Muse could bypass Apple’s App Store and weaken its high-margin services ecosystem. Analysts said Apple’s product roadmap is attractive but lacks a clear catalyst after its recent rally. Apple Stock’s Upside May Be Limited as AI Agents Could Disrupt Business
• Negative Sentiment: Apple SVP Jennifer Newstead sold 2,399 shares worth approximately $806,496, reducing her holdings by 5.4%. The sale is relatively small compared with her remaining stake but adds modest insider-selling pressure. Apple Insider Transaction Filing

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.