Apple Inc. $AAPL Stock Sold by Tanager Wealth Management LLP

Key Points

• Tanager Wealth Management reduced its Apple stake by 15.1% in the second quarter, selling 11,999 shares and retaining 67,484 shares valued at approximately $19.5 million.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $340.02, although ratings range from Strong Buy to Sell.
• Apple reported quarterly earnings and revenue above expectations, while insiders sold shares primarily to cover tax obligations related to vested equity awards.

Tanager Wealth Management LLP lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,484 shares of the iPhone maker's stock after selling 11,999 shares during the quarter. Apple accounts for about 1.7% of Tanager Wealth Management LLP's portfolio, making the stock its 17th largest holding. Tanager Wealth Management LLP's holdings in Apple were worth $19,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Avenir Tech Ltd acquired a new stake in shares of Apple during the 2nd quarter worth approximately $29,000. Longfellow Investment Management Co. LLC acquired a new position in Apple in the 2nd quarter worth about $30,000. Lifetime Wealth Management P.C. acquired a new position in Apple in the 4th quarter worth about $41,000. ABS Investment Management LLC purchased a new position in Apple during the second quarter worth approximately $376,168,000. Finally, Basso Capital Management L.P. acquired a new stake in Apple in the 4th quarter valued at $88,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. Evercore set a $380.00 target price on shares of Apple and gave the company an "outperform" rating in a research report on Friday, September 18th. Citic Securities upped their price target on shares of Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Raymond James Financial reissued a "market perform" rating on shares of Apple in a report on Friday, July 31st. TD Cowen restated a "buy" rating and issued a $400.00 target price on shares of Apple in a research report on Thursday, September 10th. Finally, Weiss Ratings cut shares of Apple from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $340.02.

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the business's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 sale, the chief executive officer directly owned 59,567 shares in the company, valued at $19,832,236.98. This represents a 29.90% decrease in their position. 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. In the last quarter, insiders have sold 279,383 shares of company stock valued at $92,912,517. 0.06% of the stock is owned by insiders.

Apple Stock Up 1.1%

Shares of NASDAQ AAPL opened at $340.42 on Friday. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $345.34. The company has a market capitalization of $4.97 trillion, a P/E ratio of 39.04, a P/E/G ratio of 2.68 and a beta of 1.07. The company has a 50 day simple moving average of $322.06 and a 200-day simple moving average of $302.76. 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 data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during 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 firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 earnings per share. On average, equities research analysts predict that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Announces Dividend

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

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: AI monetization opportunity: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by leveraging more than 2.5 billion active devices and its Services ecosystem. He sees the opportunity adding as much as $75 per share to Apple’s valuation. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple is expected to unveil new connected-home products, potentially including a doorbell, thermostat, lock and other accessories developed with LG Electronics, at its October 13 “Welcome Home” event. The initiative could broaden Apple’s hardware and Services opportunity while strengthening HomeKit against Amazon and Google. Apple Smart Home Push
• Positive Sentiment: M&A leadership change: Apple appointed veteran insider Steve Smith as head of mergers and acquisitions, replacing Adrian Perica, who is moving to the Services division. Investors may view the change as support for a more active acquisition strategy and tighter alignment between dealmaking and Services growth. Apple Names Steve Smith New M&A Chief
• Positive Sentiment: Tokenized-stock exposure: Securitize launched tokenized versions of Apple and 11 other major U.S. stocks on Solana. The offering could increase visibility for Apple’s shares and reflects broader demand for digital access to large-cap equities, although the direct financial effect on Apple is limited. Securitize Launches Tokenized U.S. Equities
• Neutral Sentiment: Management is pursuing faster execution: CEO John Ternus is reportedly considering more frequent product releases and fewer management layers. The changes could improve innovation, but commentary also highlights that Siri and Apple’s AI execution remain areas where investors want faster progress. Apple Is Speeding Up, Siri Isn’t
• Negative Sentiment: Valuation and margin risks: Apple trades at a premium earnings multiple after a strong year-to-date advance. Morgan Stanley lowered its price target to $355 despite raising revenue estimates, citing softer iPhone pricing and higher memory-chip costs. Bank of America also warned that Meta’s AI developments could challenge Apple’s Services ecosystem. Morgan Stanley Is Bullish on Apple With a Catch
• Negative Sentiment: Insider selling and concentration concerns: Senior Vice President Jennifer Newstead sold 2,399 shares, a relatively small transaction that may nevertheless add to investor caution. Separately, Apple’s huge weighting in the S&P 500 leaves index investors vulnerable if the stock or other mega-cap technology shares retreat. Apple Insider Transaction Filing

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.