Clarity Wealth Advisors LLC Sells 2,100 Shares of Apple Inc. $AAPL

Key Points

• Clarity Wealth Advisors cut its Apple position by 2,100 shares, or 1.6%, in the third quarter, but still held 131,652 shares worth about $43.8 million; Apple remained its largest portfolio holding.
• Apple beat quarterly expectations, reporting $2.10 in earnings per share and $114.48 billion in revenue, with year-over-year revenue growth of 11.7%.
• Analysts’ average rating was “Moderate Buy”, with an average price target of $343.74. Apple also announced a quarterly dividend of $0.27 per share.

Clarity Wealth Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,652 shares of the iPhone maker's stock after selling 2,100 shares during the period. Apple makes up about 7.6% of Clarity Wealth Advisors LLC's portfolio, making the stock its biggest holding. Clarity Wealth Advisors LLC's holdings in Apple were worth $43,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avenir Tech Ltd acquired a new position in Apple in the second quarter valued at about $29,000. Longfellow Investment Management Co. LLC bought a new stake in Apple during the second quarter worth about $30,000. Ironwood Wealth Management Inc. acquired a new stake in Apple during the third quarter worth about $34,000. Ascentis Wealth Management LLC grew its stake in Apple by 822.7% during the second quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock worth $85,000 after buying an additional 260,792 shares in the last quarter. Finally, Bamco Inc. NY acquired a new stake in Apple during the second quarter worth about $118,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 2.4%

AAPL stock opened at $350.69 on Tuesday. The firm has a 50-day moving average price of $336.63 and a 200-day moving average price of $299.02. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The company has a current ratio of 1.02, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $5.10 trillion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.11. The company had revenue of $114.48 billion for the quarter, compared to analyst estimates of $113.40 billion. Apple had a net margin of 27.60% and a return on equity of 125.35%. The firm's revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 9.68 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 12th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio is presently 12.04%.

Insider Activity at Apple

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the sale, the senior vice president owned 136,810 shares in the company, valued at $45,615,190.20. This trade represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 business's stock in a transaction on 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 approximately $19,832,236.98. The trade was 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. Insiders sold 290,212 shares of company stock worth $96,639,685 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on AAPL shares. Raymond James Financial reissued a "market perform" rating on shares of Apple in a report on Tuesday, November 3rd. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a report on Thursday, September 10th. TD Cowen reduced their price target on shares of Apple from $400.00 to $390.00 and set a "buy" rating on the stock in a research report on Tuesday, November 3rd. Barclays increased their price target on shares of Apple from $245.00 to $261.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 3rd. Finally, UBS Group reissued a "neutral" rating and issued a $340.00 price objective (up from $296.00) on shares of Apple in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $343.74.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported quarterly revenue of $114.48 billion and EPS of $2.10, topping estimates, with double-digit growth in hardware and services. Article
• Positive Sentiment: Apple Intelligence cleared a Chinese regulatory step for use on tablets and laptops, potentially expanding the service’s reach in a major market. Article
• Positive Sentiment: Apple has begun offering $49.99 add-on packs for extra AI usage in Creator Studio, a potential new revenue stream from its AI features. Article
• Positive Sentiment: Commentary points to resilient iPhone demand and Apple’s comparatively restrained AI spending as advantages amid investor concerns about heavy AI investment elsewhere. Article
• Neutral Sentiment: Apple issued $7.5 billion in senior unsecured notes. The financing provides capital but also adds debt; the announcement does not specify a direct operating catalyst. Article
• Negative Sentiment: Reports warn that rising memory-chip costs could pressure margins, while some analysts question whether Apple’s valuation leaves limited room for further gains. Article

Apple Company Profile

Apple Inc designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS.

The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple's devices and are sold to consumers, businesses and institutions around the world.

Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.

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