Guardian Investment Management lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,102 shares of the iPhone maker's stock after selling 2,439 shares during the quarter. Apple accounts for approximately 17.1% of Guardian Investment Management's investment portfolio, making the stock its biggest holding. Guardian Investment Management's holdings in Apple were worth $25,344,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. State Street Corp boosted its position in Apple by 4.7% in the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock worth $182,897,769,000 after purchasing an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc bought a new position in Apple in the 2nd quarter valued at $65,950,297,000. Bank of America Corp DE purchased a new stake in shares of Apple during the 2nd quarter valued at $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple during the 2nd quarter valued at $30,443,242,000. Finally, Amundi raised its stake in shares of Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Apple
In other news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $351.36, for a total value of $842,912.64. Following the completion of the transaction, the senior vice president owned 27,598 shares in the company, valued at $9,696,833.28. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Ternus sold 25,412 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 59,567 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 292,611 shares of company stock valued at $97,482,597. Insiders own 0.06% of the company's stock.
Analyst Ratings Changes
AAPL has been the topic of a number of research analyst reports. HSBC reissued a "buy" rating on shares of Apple in a report on Tuesday, October 27th. Deutsche Bank downgraded shares of Apple from a "buy" rating to a "hold" rating in a report on Monday, August 17th. Yorkville Ives assumed coverage on shares of Apple in a research report on Tuesday, October 6th. They issued an "outperform" rating and a $400.00 price objective on the stock. Seaport Research Partners cut shares of Apple from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. Finally, The Goldman Sachs Group set a $380.00 target price on shares of Apple in a research report on Wednesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average target price of $347.11.
Get Our Latest Stock Report on AAPL
Apple Stock Performance
Shares of NASDAQ AAPL traded up $1.39 during trading on Friday, reaching $356.27. 39,967,159 shares of the stock traded hands, compared to its average volume of 48,203,272. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.94. The stock has a market capitalization of $5.18 trillion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 3.41 and a beta of 1.07. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $360.83. The company has a 50-day moving average of $339.04 and a 200-day moving average of $301.05.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share 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 company had revenue of $114.48 billion during the quarter, compared to analyst estimates of $113.40 billion. During the same quarter last year, the firm posted $1.85 EPS. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Apple Inc. will post 9.45 EPS for the current fiscal year.
Apple Announces Dividend
The firm 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 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio is 12.04%.
Key Apple News
Investors following AAPL have been watching these news items:
- Positive Sentiment: Bernstein cited Apple’s relatively defensive business as a safe haven amid an AI-sector selloff, helping attract investors as Nvidia weakness put pressure on technology stocks. Apple stock gains as Bernstein highlights safe-haven appeal
- Positive Sentiment: Apple’s new $299 HomeView and Apple TV devices, featuring Siri AI, began reaching customers Friday, offering a potential new product and ecosystem catalyst ahead of the holiday season. Apple devices hit shelves
- Negative Sentiment: Valuation remains a key risk: analysts have warned Apple trades at a premium, and views are divided, including a DZ Bank downgrade to Sell. A senior vice president also continued a pattern of scheduled share sales, a modest potential overhang. Apple valuation analysis
Apple Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).
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