Apple Inc. $AAPL Stock Sold by Net Worth Advisory Group

Key Points

• Net Worth Advisory Group cut its Apple stake by 12.5% in the third quarter, selling 2,580 shares and retaining 17,998 shares worth about $5.95 million.
• Apple CEO John Ternus and SVP Deirdre O’Brien each sold shares to cover tax withholding on vested equity awards. Company insiders sold 291,651 shares worth about $97.1 million over the past 90 days.
• Apple beat quarterly earnings and revenue estimates, reporting $2.10 in EPS and $114.48 billion in revenue, up 11.7% year over year. The article also notes potential headwinds from rising memory-chip costs and supply constraints.

Net Worth Advisory Group decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,998 shares of the iPhone maker's stock after selling 2,580 shares during the quarter. Apple comprises approximately 1.5% of Net Worth Advisory Group's portfolio, making the stock its 10th biggest holding. Net Worth Advisory Group's holdings in Apple were worth $5,945,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Apple by 4.7% during the 2nd 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 in the last quarter. Berkshire Hathaway Inc bought a new position in Apple in the 2nd quarter worth about $65,950,297,000. Bank of America Corp DE bought a new position in Apple in the 2nd quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new position in Apple during the 2nd quarter valued at about $30,443,242,000. Finally, Amundi grew its holdings in Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after buying an additional 13,780,080 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, CEO John Ternus sold 25,412 shares of Apple 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 $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This represents a 25.32% 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 291,651 shares of company stock valued at $97,082,537 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue expectations, with revenue of $114.5 billion and solid iPhone and Mac demand. The results support the view that product demand remains healthy. Apple shares fell despite a double beat in Q4
• Positive Sentiment: Bernstein raised its price target to $380 and kept a Buy rating, citing potential upside from Apple’s business prospects. Bernstein rating and price target
• Neutral Sentiment: Apple is reportedly seeking up to $7 billion through a bond offering. The borrowing adds financing flexibility, but the reports did not specify how proceeds would be used. Apple seeks about $7 billion from bond sale
• Negative Sentiment: Management flagged memory-chip costs that could keep rising, along with supply constraints ahead of the December quarter. These pressures may weigh on margins even as demand remains strong. Supply constraints and rising memory costs
• Negative Sentiment: Investors are also scrutinizing earnings quality: tariff refunds boosted reported profit metrics, making the underlying results less straightforward to assess. Investors revisit Apple earnings quality
• Negative Sentiment: Analyst caution and valuation concerns add to the headwinds. DZ Bank cut Apple to Sell, while coverage also points to slower Services growth and a premium share valuation. DZ Bank downgrades Apple

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AAPL. Guggenheim set a $400.00 price target on Apple in a research report on Tuesday. Phillip Securities raised their price objective on shares of Apple from $290.00 to $300.00 and gave the company a "neutral" rating in a research report on Monday, September 14th. Melius Research set a $370.00 price objective on shares of Apple in a research report on Tuesday. HSBC reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, October 27th. Finally, BTIG Research began coverage on shares of Apple in a report on Monday, August 17th. They set a "neutral" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $343.74.

Apple Price Performance

Apple stock opened at $344.17 on Friday. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $355.38. The business has a 50-day simple moving average of $335.46 and a 200 day simple moving average of $298.03. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock has a market cap of $5.00 trillion, a price-to-earnings ratio of 38.37, a PEG ratio of 3.30 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $113.40 billion. During the same period in the prior year, the company earned $1.85 EPS. The company's quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 9.64 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders 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 dividend yield of 0.3%. Apple's payout ratio is presently 12.39%.

Apple Profile

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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