Cyndeo Wealth Partners LLC Purchases 2,417 Shares of Apple Inc. $AAPL

Key Points

• Cyndeo Wealth Partners increased its Apple stake by 1% in the third quarter, purchasing 2,417 shares and bringing its holdings to 235,785 shares valued at approximately $78 million. Institutional investors collectively own 67.73% of Apple.
• Apple insiders sold 289,252 shares worth roughly $96.3 million during the last quarter, including sales by executives Ben Borders and John Ternus to cover tax obligations from vested equity awards.
• Apple reported quarterly revenue of $109.42 billion and earnings of $2.02 per share, both ahead of analyst expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $340.49, while the stock recently traded near its 52-week high.

Cyndeo Wealth Partners LLC raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,785 shares of the iPhone maker's stock after acquiring an additional 2,417 shares during the period. Apple comprises approximately 3.4% of Cyndeo Wealth Partners LLC's holdings, making the stock its 3rd largest holding. Cyndeo Wealth Partners LLC's holdings in Apple were worth $77,983,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sterling Wealth Management Inc. lifted its position in Apple by 0.3% in the second quarter. Sterling Wealth Management Inc. now owns 11,579 shares of the iPhone maker's stock worth $3,351,000 after purchasing an additional 30 shares during the period. Thor Investment Management Inc. OH ADV increased its holdings in Apple by 1.6% in the 3rd quarter. Thor Investment Management Inc. OH ADV now owns 1,912 shares of the iPhone maker's stock valued at $637,000 after buying an additional 30 shares during the period. Evansbrook LLC increased its holdings in Apple by 0.4% in the 1st quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker's stock valued at $2,054,000 after buying an additional 34 shares during the period. JMG Financial Group Ltd. increased its stake in Apple by 0.7% in the first quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock valued at $1,295,000 after acquiring an additional 35 shares during the period. Finally, Wealth Forward LLC increased its stake in Apple by 0.3% in the third quarter. Wealth Forward LLC now owns 13,327 shares of the iPhone maker's stock valued at $4,438,000 after acquiring an additional 35 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 1,280 shares of the company's stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $345.40, for a total value of $442,112.00. Following the completion of the sale, the insider owned 38,288 shares in the company, valued at approximately $13,224,675.20. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 stock in a transaction dated 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 directly owned 59,567 shares in the company, valued at $19,832,236.98. The trade was a 29.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 289,252 shares of company stock valued at $96,301,063 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

AAPL opened at $344.63 on Friday. The company has a fifty day moving average price of $333.04 and a two-hundred day moving average price of $296.38. The firm has a market capitalization of $5.03 trillion, a PE ratio of 40.52, a P/E/G ratio of 2.76 and a beta of 1.07. 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.

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

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. CICC Research raised their price target on shares of Apple from $310.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. China Renaissance lowered Apple from a "buy" rating to a "hold" rating and lowered their price objective for the company from $329.00 to $280.00 in a research note on Tuesday, August 4th. KeyCorp reiterated an "underweight" rating on shares of Apple in a research note on Thursday, October 15th. Daiwa Securities Group increased their target price on Apple from $325.00 to $335.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Finally, Barclays restated an "underweight" rating and set a $245.00 target price (down from $253.00) on shares of Apple in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, fifteen have issued 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 an average target price of $340.49.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple acquired Ascension Labs, which operates as Ascend.io, gaining access to agentic artificial-intelligence talent and intellectual property. The deal supports Apple’s effort to strengthen its AI capabilities, although financial terms were not disclosed. Apple Acquires AI Firm Ascend.io Talent and Patents
• Positive Sentiment: Demand indicators remain supportive: the foldable iPhone Duo reportedly sold out quickly, orders are backed up, and Apple is positioned to benefit from strong iPhone, Mac and Services demand. Analysts including Bank of America and Goldman Sachs remain constructive, with BofA reiterating a Buy rating and a $370 price target. Analyst Reiterates Buy on Apple
• Positive Sentiment: The first touchscreen MacBook Pro, equipped with OLED displays and M5 Pro or M5 Max chips, expands Apple’s premium hardware lineup and could support a new product-cycle catalyst. Apple Shows First Touchscreen Laptops
• Neutral Sentiment: Apple’s earnings report is the immediate focus. Investors will look for evidence that revenue growth, Services momentum and AI investments can offset rising component costs and potentially slower holiday growth. Options activity suggests substantial volatility around the release. Apple November 2 Earnings Preview
• Negative Sentiment: AI-related demand has sharply increased flash-memory prices, raising concerns that Apple’s gross margin will come under pressure. Qualcomm also indicated that Apple-related revenue is declining faster than previously expected, reinforcing concerns about the pace of future iPhone growth. AI Has Made Flash Memory More Expensive
• Negative Sentiment: At roughly 40 times earnings and near its yearly high, Apple has limited room for an earnings or guidance disappointment. A senior vice president’s repeated stock sales and a South Korean fine related to app-market practices add modest additional caution. Apple Insider Selling

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.

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.