Apple Inc. $AAPL Stock Sold by Meridian Investment Counsel Inc.

Key Points

• Meridian Investment Counsel cut its Apple position by 12.7% in the third quarter, selling 8,909 shares and retaining 60,992 shares valued at approximately $20.3 million. Apple remains the firm’s second-largest holding, representing about 4.6% of its portfolio.
• Institutional investors own 67.73% of Apple, while insiders have sold approximately $95.5 million worth of shares over the past 90 days. Apple executives Jennifer Newstead and Ben Borders also recently sold shares, with one transaction tied to tax withholding obligations.
• Analysts maintain a broadly positive outlook, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $340.12. The stock recently traded near its 52-week high, while its latest quarterly results exceeded earnings and revenue estimates.

Meridian Investment Counsel Inc. lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,992 shares of the iPhone maker's stock after selling 8,909 shares during the period. Apple comprises approximately 4.6% of Meridian Investment Counsel Inc.'s investment portfolio, making the stock its 2nd biggest position. Meridian Investment Counsel Inc.'s holdings in Apple were worth $20,312,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Avenir Tech Ltd purchased a new position in Apple during the second quarter worth approximately $29,000. Longfellow Investment Management Co. LLC acquired a new stake in Apple in the second quarter valued at approximately $30,000. ABS Investment Management LLC acquired a new stake in Apple in the second quarter valued at approximately $376,168,000. Bamco Inc. NY purchased a new stake in shares of Apple in the second quarter valued at approximately $118,000. Finally, Bard Associates Inc. purchased a new stake in shares of Apple in the second quarter valued at approximately $161,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $339.62, for a total transaction of $814,748.38. Following the completion of the sale, the senior vice president owned 34,795 shares of the company's stock, valued at $11,817,077.90. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ben Borders sold 1,280 shares of the company's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $345.40, for a total transaction of $442,112.00. Following the sale, the insider directly owned 38,288 shares of the company's stock, valued at $13,224,675.20. The trade was a 3.23% decrease in their position. 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 have sold a total of 286,853 shares of company stock worth $95,477,342 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. Deutsche Bank Aktiengesellschaft downgraded Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. TD Cowen reissued a "buy" rating and issued a $400.00 price target on shares of Apple in a research note on Thursday, September 10th. Daiwa Securities Group boosted their price target on shares of Apple from $325.00 to $335.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Maxim Group increased their price objective on shares of Apple from $350.00 to $380.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. One 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus target price of $340.12.

Apple Stock Performance

NASDAQ AAPL opened at $347.73 on Monday. The company has a market cap of $5.07 trillion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 2.75 and a beta of 1.07. The stock's 50 day simple moving average is $329.75 and its 200-day simple moving average is $309.70. 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 current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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 firm 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 posted $1.57 earnings per share. The business's revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Announces Dividend

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

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Strong iPhone Duo demand is the primary catalyst. The foldable phone launched globally Friday amid long lines, limited store inventory and reports that preorders are backordered into 2027. Supply-chain reports indicate Apple raised its first-year shipment target by 44%, to roughly 14 million units. The premium product could expand Apple’s addressable market and support revenue growth. Apple fans react as iPhone Duo hits stores
• Positive Sentiment: The launch strengthens Apple’s broader hardware and services roadmap. Analysts are evaluating whether the Duo can drive accessory, software and services revenue, while potential touchscreen Macs, smart-home products and an Apple-Schneider Electric energy-management partnership provide additional growth opportunities. Will Apple take over the smart home
• Positive Sentiment: Apple briefly reclaimed the title of world’s most valuable public company. AAPL approached or surpassed Nvidia’s approximately $5 trillion valuation as Nvidia shares weakened during a broader AI-stock selloff. Investors are treating Apple’s substantial cash generation and lower AI infrastructure spending as a relative safe haven. Apple tops Nvidia in market value
• Neutral Sentiment: The next major test is earnings. Apple’s fiscal fourth-quarter results are expected November 2, with investors looking for evidence that iPhone Duo demand, holiday sales and margins justify a stock trading near 40 times earnings. Analysts remain broadly constructive, but the average price target is close to recent trading levels.
• Negative Sentiment: Execution and valuation risks remain significant. Some early users have reported cracked foldable screens, while reviews cite first-generation glitches, a $2,000 price and limitations involving the camera and apps. These issues could affect returns, customer satisfaction and adoption.
• Negative Sentiment: Insider selling adds a modest cautionary signal. Senior Vice President Jennifer Newstead sold approximately $815,000 of AAPL shares, following several similar sales. The transaction is small relative to Apple’s size but may reinforce concerns that the stock has become expensive.

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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