Apple Inc. $AAPL Stock Sold by First Pacific Financial

Key Points

• First Pacific Financial cut its Apple position by 14.8% in the third quarter, selling 2,883 shares and retaining 16,601 shares valued at $5.52 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly revenue of $109.42 billion and EPS of $2.02, exceeding analyst expectations, while revenue rose 16.4% year over year. The company also paid a quarterly dividend of $0.27 per share.
• Investor focus remains on upcoming fiscal fourth-quarter results and the launch of new products, including the foldable iPhone Duo and OLED iPad mini. Strong demand is tempered by reported foldable-screen defects, premium valuation concerns and mixed analyst sentiment, with a consensus rating of “Moderate Buy.”

First Pacific Financial reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,601 shares of the iPhone maker's stock after selling 2,883 shares during the period. First Pacific Financial's holdings in Apple were worth $5,517,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Financial Strategies Inc. increased its holdings in shares of Apple by 0.3% in the 3rd quarter. Summit Financial Strategies Inc. now owns 69,651 shares of the iPhone maker's stock valued at $23,195,000 after acquiring an additional 200 shares during the last quarter. Fortune 45 LLC boosted its position in Apple by 4.4% during the third quarter. Fortune 45 LLC now owns 14,032 shares of the iPhone maker's stock worth $4,673,000 after purchasing an additional 585 shares in the last quarter. Reliant Investment Management LLC acquired a new stake in shares of Apple in the third quarter valued at approximately $14,554,000. Newton One Investments LLC raised its position in shares of Apple by 0.5% during the 3rd quarter. Newton One Investments LLC now owns 10,504 shares of the iPhone maker's stock worth $3,498,000 after purchasing an additional 52 shares during the last quarter. Finally, Godsey & Gibb Inc. lifted its stake in Apple by 45.7% in the 3rd quarter. Godsey & Gibb Inc. now owns 221,031 shares of the iPhone maker's stock valued at $69,496,000 after buying an additional 69,330 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Demand for Apple’s first foldable iPhone Duo appears exceptionally strong, with delivery estimates extending into January. Apple has reportedly asked suppliers to increase production by 30%, suggesting robust consumer interest and potential for a sizable upgrade cycle. Apple’s iPhone Duo Buyers Face a Wait That Could Stretch Into January
• Positive Sentiment: Apple introduced a redesigned iPad mini beginning at $699, featuring an OLED display, A20 Pro chip, improved AI performance, water resistance and Wi-Fi 7. The launch broadens Apple’s higher-end hardware lineup ahead of the holiday season. Apple Unveils $699 OLED iPad Mini
• Positive Sentiment: Apple expanded Siri’s AI language support, including Japanese, indicating continued progress in its artificial-intelligence rollout and global product integration. Apple Expands Siri AI Languages
• Neutral Sentiment: Investors are focused on Apple’s fiscal fourth-quarter results expected November 2. Analysts anticipate continued iPhone, Mac and Services growth, but the stock’s premium valuation leaves limited room for an earnings or outlook disappointment. Why Buying Apple Stock Before Q4 Earnings Could Be Risky
• Negative Sentiment: Users have reported cracks and bright lines near the hinge on some $1,999 iPhone Duo units. Apple acknowledged the issue and said affected devices would be replaced under AppleCare, but the defect creates reputational, warranty-cost and execution risks for an important new product. Apple Responds to Reports of Broken iPhone Duo Screens
• Negative Sentiment: The new iPad mini’s higher starting price may limit demand, while broader concerns about leadership succession, AI execution and rising component costs are adding to investor caution ahead of earnings. Apple Earnings Expected to Grow

Apple Price Performance

AAPL stock opened at $343.91 on Tuesday. The firm has a market cap of $5.02 trillion, a P/E ratio of 39.44, a price-to-earnings-growth ratio of 2.75 and a beta of 1.07. The stock has a 50-day simple moving average of $329.47 and a 200-day simple moving average of $294.25. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $351.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the company earned $1.57 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

Insider Activity

In related news, CFO Kevan Parekh sold 1,392 shares of the firm's stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $345.05, for a total transaction of $480,309.60. Following the completion of the transaction, the chief financial officer owned 17,539 shares of the company's stock, valued at $6,051,831.95. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 value of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares of the company's stock, valued at $19,832,236.98. This trade represents a 29.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 286,853 shares of company stock worth $95,477,342 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AAPL shares. UBS Group reissued a "neutral" rating on shares of Apple in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft cut shares of Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. The Goldman Sachs Group assumed coverage on shares of Apple in a report on Monday, August 17th. They set a "buy" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Thursday, October 1st. Finally, Royal Bank Of Canada set a $365.00 price target on Apple in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $340.12.

About Apple

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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