Apple Inc. $AAPL Stock Sold by Parrish Capital LLC

Key Points

• Parrish Capital trimmed its Apple position by 12.3% in the second quarter, selling 1,966 shares and retaining 13,956 shares valued at approximately $4.04 million. Apple remains the fund’s second-largest holding.
• Institutional ownership remains substantial at 67.73%, with several major firms increasing or initiating positions. Analysts maintain a broadly positive view, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $340.02.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, exceeding estimates, while revenue grew 16.4% year over year. However, recent insider selling and concerns about premium iPhone demand, valuation, and margin pressure present near-term risks.

Parrish Capital LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,956 shares of the iPhone maker's stock after selling 1,966 shares during the period. Apple accounts for about 3.2% of Parrish Capital LLC's holdings, making the stock its 2nd biggest holding. Parrish Capital LLC's holdings in Apple were worth $4,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Berkshire Hathaway Inc purchased a new position in Apple in the 2nd quarter worth approximately $65,950,297,000. Bank of America Corp DE purchased a new stake in shares of Apple in the second quarter valued at approximately $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple in the second quarter valued at approximately $30,443,242,000. Nuveen LLC increased its holdings in shares of Apple by 3.8% in the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock valued at $20,389,750,000 after purchasing an additional 2,725,121 shares during the last quarter. Finally, Amundi increased its holdings in shares of Apple by 23.2% in the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after purchasing an additional 13,780,080 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Robert W. Baird raised their target price on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. CICC Research lifted their price target on Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research report on Friday, September 25th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Apple from a "buy" rating to a "hold" rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average target price of $340.02.

Apple Price Performance

AAPL stock opened at $336.64 on Friday. The business has a fifty day moving average of $322.61 and a two-hundred day moving average of $302.99. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.91 trillion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 2.71 and a beta of 1.07. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.57 EPS. As a group, research analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued 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 payout ratio is 12.39%.

Insider Activity at Apple

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total value of $806,495.82. Following the transaction, the senior vice president owned 41,992 shares of the company's stock, valued at $14,116,870.56. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Ternus sold 25,412 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the transaction, the chief executive officer directly owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This trade represents a 29.90% 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. Over the last ninety days, insiders sold 279,383 shares of company stock worth $92,912,517. 0.06% of the stock is owned by corporate insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Apple Profile

Apple Inc is a technology company that designs, develops and markets 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 software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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