Clarity Wealth Development LLC Sells 3,400 Shares of Apple Inc. $AAPL

Key Points

• Clarity Wealth Development reduced its Apple stake by 26.1%, selling 3,400 shares in the third quarter and retaining 9,605 shares worth about $3.20 million.
• Apple reported quarterly EPS of $2.10 and revenue of $114.48 billion, beating consensus estimates; revenue increased 11.7% year over year.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $347.11. Insiders also sold shares, including sales made to cover tax withholding on vested awards.

Clarity Wealth Development LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 26.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,605 shares of the iPhone maker's stock after selling 3,400 shares during the quarter. Apple accounts for 1.8% of Clarity Wealth Development LLC's holdings, making the stock its 16th largest position. Clarity Wealth Development LLC's holdings in Apple were worth $3,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Berkshire Hathaway Inc bought a new stake in shares of Apple during the 2nd quarter valued at $65,950,297,000. Bank of America Corp DE acquired a new position in Apple in the second quarter valued at about $36,986,090,000. Legal & General Group Plc bought a new stake in Apple during the second quarter worth about $30,443,242,000. Deutsche Bank AG bought a new stake in Apple during the second quarter worth about $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Apple during the second quarter worth about $10,588,946,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, CEO John Ternus sold 25,412 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 59,567 shares of the company's stock, valued at $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 available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the completion of the sale, the senior vice president owned 39,593 shares in the company, valued at $13,145,271.93. This represents a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 290,212 shares of company stock valued at $96,639,685 in the last quarter. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on AAPL shares. Monness Crespi & Hardt reissued a "buy" rating and issued a $355.00 target price on shares of Apple in a report on Wednesday, October 28th. Oppenheimer restated a "market perform" rating on shares of Apple in a research report on Thursday, September 10th. Robert W. Baird set a $340.00 price target on shares of Apple and gave the stock an "outperform" rating in a report on Tuesday, November 3rd. Piper Sandler began coverage on shares of Apple in a research report on Monday, August 17th. They set an "overweight" rating on the stock. Finally, Loop Capital cut shares of Apple from a "buy" rating to a "hold" rating and decreased their price objective for the company from $370.00 to $330.00 in a research note on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $347.11.

Apple Stock Performance

NASDAQ:AAPL opened at $355.63 on Thursday. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $355.91. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock's 50-day simple moving average is $337.88 and its 200 day simple moving average is $300.06. The firm has a market capitalization of $5.17 trillion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 3.35 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The firm had revenue of $114.48 billion during the quarter, compared to the consensus estimate of $113.40 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The business's quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 9.45 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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple's dividend payout ratio is currently 12.04%.

Top Apple Stories

Investors following AAPL have been watching these stories:

• Positive Sentiment: China Renaissance upgraded Apple to Buy from Hold and raised its price target to $425, citing growth potential from Apple’s first foldable iPhone. The bullish outlook helped support shares. Analyst raises Apple price target to $425
• Positive Sentiment: Reports point to strong iPhone demand and a record quarterly revenue result, while the foldable iPhone could provide a new growth opportunity. A faster Siri AI roadmap may also strengthen Apple’s longer-term product story.
• Negative Sentiment: Some analysts and commentators argue the shares look expensive after a strong run, raising the risk that high expectations could limit further gains if growth or margins disappoint. Apple shares look expensive heading into 2027

Apple 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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