Castle Rock Wealth Management LLC Sells 6,452 Shares of Apple Inc. $AAPL

Key Points

• Castle Rock Wealth Management reduced its Apple stake by 12.1%, selling 6,452 shares and retaining 47,042 shares valued at approximately $15.7 million. Institutional investors overall own 67.73% of Apple.
• Apple insiders sold shares during the quarter, including CEO John Ternus and CFO Kevan Parekh, primarily to cover tax obligations tied to vested equity awards. Insiders sold 284,454 shares worth roughly $94.7 million in total.
• Apple reported stronger-than-expected quarterly results, with revenue up 16.4% year over year and EPS of $2.02 versus a $1.89 consensus estimate. Analysts maintain a “Moderate Buy” consensus, though valuation and potential iPhone demand concerns remain risks.

Castle Rock Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 47,042 shares of the iPhone maker's stock after selling 6,452 shares during the period. Apple comprises approximately 3.0% of Castle Rock Wealth Management LLC's portfolio, making the stock its 7th biggest position. Castle Rock Wealth Management LLC's holdings in Apple were worth $15,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Apple by 4.7% during the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock valued at $182,897,769,000 after buying an additional 28,321,085 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in Apple in the 2nd quarter valued at approximately $65,950,297,000. Bank of America Corp DE purchased a new position in Apple in the 2nd quarter valued at approximately $36,986,090,000. Legal & General Group Plc purchased a new position in Apple in the 2nd quarter valued at approximately $30,443,242,000. Finally, Amundi raised 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 acquiring an additional 13,780,080 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, CEO John Ternus sold 25,412 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the sale, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,392 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $345.05, for a total transaction of $480,309.60. Following the transaction, the chief financial officer directly owned 17,539 shares in the company, valued at approximately $6,051,831.95. This represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 284,454 shares of company stock worth $94,662,594. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 0.2%

Shares of NASDAQ:AAPL opened at $342.94 on Tuesday. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $348.15. The firm has a fifty day moving average of $326.53 and a 200 day moving average of $307.21. The firm has a market capitalization of $5.00 trillion, a PE ratio of 39.33, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share 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 company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the company posted $1.57 EPS. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued 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 was Monday, August 10th. Apple's payout ratio is presently 12.39%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Strong iPhone Duo demand: Preorders for Apple’s $1,999 foldable iPhone reportedly sold out quickly, with delivery estimates extending into January 2027. The robust response supports near-term revenue expectations and strengthens the case for Apple’s foldable-device strategy. Apple’s iPhone Duo Demand Soars as Deliveries Stretch Into January 2027
• Positive Sentiment: New product event announced: Apple will host its “Pro and Tell” event on October 28. Analysts expect new Macs and potentially the company’s first touchscreen MacBook, which could provide a catalyst for Mac growth and investor sentiment. Apple announces product launch event for Oct. 28
• Positive Sentiment: Analyst support remains favorable: Bank of America reiterated a Buy rating with a $370 price target, while JPMorgan maintained its Overweight rating and $360 target, citing healthy demand trends and longer-term AI potential. Apple Maintained at Buy With Unchanged $370 Price Target
• Neutral Sentiment: Insider transactions: CFO Kevan Parekh and insider Ben Borders sold shares to cover tax withholding related to vested equity awards. The sales modestly reduced their holdings but do not appear to represent discretionary bearish bets.
• Negative Sentiment: Demand concerns and valuation risk: A KeyBanc survey indicated weaker consumer intentions to upgrade iPhones over the next year, despite better early iPhone 18 interest. With AAPL trading near its 52-week high at a premium earnings multiple, disappointment in future iPhone growth could pressure the stock. Apple Stock Escaped the AI Downturn
• Negative Sentiment: Regulatory pressure: UK regulators are reportedly preparing to push Apple to allow alternative default payment services on iPhones, potentially weakening Apple Pay’s ecosystem advantages and services revenue.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft cut Apple from a "buy" rating to a "hold" rating in a report on Monday, August 17th. The Goldman Sachs Group assumed coverage on Apple in a report on Monday, August 17th. They set a "buy" rating for the company. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Tuesday, October 6th. BTIG Research assumed coverage on Apple in a research report on Monday, August 17th. They set a "neutral" rating on the stock. Finally, KGI Securities downgraded shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target for the company. in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $340.62.

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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