Apple Inc. $AAPL Stock Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB cut its Apple stake by 1.8%, selling 15,498 shares in the third quarter; it still held 834,903 shares worth about $278 million.
• Apple beat quarterly estimates, reporting revenue of $114.48 billion and EPS of $2.10, with revenue up 11.7% year over year.
• Shares were trading near their one-year high, while some analysts flagged valuation concerns and rising memory-chip costs as potential risks to further gains.

E. Ohman J or Asset Management AB decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 834,903 shares of the iPhone maker's stock after selling 15,498 shares during the quarter. Apple accounts for about 6.2% of E. Ohman J or Asset Management AB's holdings, making the stock its 3rd biggest holding. E. Ohman J or Asset Management AB's holdings in Apple were worth $278,039,000 as of its most recent SEC filing.

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

More Apple News

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

Apple Stock Up 2.4%

Shares of NASDAQ AAPL opened at $350.69 on Tuesday. The company has a market capitalization of $5.10 trillion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.93. The business has a 50-day moving average of $336.63 and a two-hundred day moving average of $299.02. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $355.38.

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

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's dividend payout ratio (DPR) is presently 12.04%.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. This trade represents a 25.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 directly owned 59,567 shares in the company, valued at $19,832,236.98. This trade represents a 29.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 290,212 shares of company stock worth $96,639,685. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. Jefferies Financial Group reiterated an "underperform" rating on shares of Apple in a research note on Wednesday, September 9th. Moffett Nathanson set a $283.00 target price on shares of Apple and gave the stock a "neutral" rating in a research note on Tuesday, October 20th. Phillip Securities cut shares of Apple from a "hold" rating to a "moderate sell" rating in a report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Thursday, October 1st. Finally, KeyCorp reiterated an "underweight" rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $343.74.

About Apple

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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