Apple Inc. $AAPL Stock Sold by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors reduced its Apple stake by 0.8% in the third quarter, selling 7,731 shares and retaining 932,568 shares valued at approximately $310.3 million. Apple remains the firm’s second-largest holding and represents 7.6% of its portfolio.
• Other institutional investors mostly increased their Apple positions, and institutions collectively own 67.73% of the company. Apple shares opened at $347.73, near their 52-week high, with a market capitalization of about $5.07 trillion and a forward-looking valuation near 40 times earnings.
• Apple reported better-than-expected quarterly earnings and revenue, while analysts maintain a “Moderate Buy” consensus with a $340.12 target price. Strong demand for the new iPhone Duo could support growth, but high valuation, product-execution concerns and recent insider selling remain risks.

Salem Investment Counselors Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 932,568 shares of the iPhone maker's stock after selling 7,731 shares during the quarter. Apple makes up 7.6% of Salem Investment Counselors Inc.'s investment portfolio, making the stock its 2nd largest holding. Salem Investment Counselors Inc.'s holdings in Apple were worth $310,342,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AAPL. Signal Advisors Wealth LLC raised its holdings in shares of Apple by 14.0% during the 3rd quarter. Signal Advisors Wealth LLC now owns 211,321 shares of the iPhone maker's stock valued at $69,775,000 after purchasing an additional 25,907 shares in the last quarter. Ifrah Financial Services Inc. boosted its stake in shares of Apple by 10.0% during the 3rd quarter. Ifrah Financial Services Inc. now owns 37,510 shares of the iPhone maker's stock worth $12,293,000 after acquiring an additional 3,405 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of Apple by 4.9% during the 3rd quarter. Copeland Capital Management LLC now owns 108,879 shares of the iPhone maker's stock worth $36,259,000 after acquiring an additional 5,071 shares in the last quarter. Foster Group Inc. increased its holdings in shares of Apple by 0.5% during the 3rd quarter. Foster Group Inc. now owns 152,265 shares of the iPhone maker's stock valued at $50,707,000 after acquiring an additional 757 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Apple by 56.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 355,802 shares of the iPhone maker's stock valued at $117,371,000 after acquiring an additional 128,075 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 0.1%

Apple stock opened at $347.73 on Friday. Apple Inc. has a 52 week low of $243.42 and a 52 week 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. The firm has a market capitalization of $5.07 trillion, a PE ratio of 39.88, a PEG ratio of 2.75 and a beta of 1.07. The business's 50-day simple moving average is $329.75 and its 200-day simple moving average is $309.34.

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

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders 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 of this dividend was Monday, August 10th. Apple's payout ratio is currently 12.39%.

Insiders Place Their Bets

In other news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the transaction, the senior vice president directly owned 41,992 shares in the company, valued at $14,116,870.56. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy Cook sold 191,753 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the sale, the insider directly owned 3,264,168 shares of the company's stock, valued at $1,086,837,377.28. This represents a 5.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 valued at $95,477,342 in the last three months. 0.06% of the stock is owned by corporate insiders.

Apple News Roundup

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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Maxim Group raised their price objective on Apple from $350.00 to $380.00 and gave the company a "buy" rating in a research note on Friday, July 31st. HSBC restated a "buy" rating and issued a $366.00 target price on shares of Apple in a report on Tuesday, September 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Thursday, October 1st. Barclays reiterated an "underweight" rating and set a $245.00 price target (down from $253.00) on shares of Apple in a report on Friday, July 31st. Finally, KeyCorp reissued an "underweight" rating on shares of Apple in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.12.

Apple Company 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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