Ferguson Wellman Capital Management Inc. Sells 46,669 Shares of Apple Inc. $AAPL

Key Points

• Ferguson Wellman Capital Management reduced its Apple position by 3.4%, selling 46,669 shares in the third quarter. The fund still held 1.34 million shares worth approximately $445.1 million, representing 5.3% of its portfolio.
• Apple is expanding into smart-home products with the $299 HomeView hub and related devices, while partnerships with LG Electronics and Schneider Electric could strengthen its ecosystem and services revenue opportunities.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $340.39, although Apple’s high valuation, supplier production cuts and potential competitive pressures pose risks.

Ferguson Wellman Capital Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,340,996 shares of the iPhone maker's stock after selling 46,669 shares during the period. Apple accounts for 5.3% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 3rd biggest position. Ferguson Wellman Capital Management Inc.'s holdings in Apple were worth $445,058,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in Apple by 4.7% in the second 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 during the last quarter. Berkshire Hathaway Inc acquired a new stake in Apple in the second quarter worth about $65,950,297,000. Bank of America Corp DE purchased a new stake in shares of Apple during the second quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple during the second quarter worth about $30,443,242,000. Finally, Amundi increased its holdings in shares of Apple by 23.2% during the first 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 in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple launched the $299 HomeView smart-home hub, featuring an upgraded Siri AI assistant, along with a new Apple TV 4K, HomePod mini 2, cameras, a video doorbell, smart lock, thermostat and other accessories. The products expand Apple’s ecosystem into the home and provide a potential new source of hardware and services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Partnerships with LG Electronics and Schneider Electric broaden the Apple Home Collection, including security, energy-management and access-control products that could increase engagement with iPhones, Apple Watches and other Apple devices. LG announces smart-home accessories developed with Apple
• Positive Sentiment: Analyst support remains favorable. Bernstein reiterated a Buy rating with a $370 target, while JPMorgan raised its target to $360. Reports also indicate Apple’s iPhone market share reached 22% in the latest quarter, and iPhone 18 Pro demand may be stronger than last year. Bernstein reiterates Buy rating on Apple
• Positive Sentiment: A federal judge ordered OpenAI to provide hiring records and other materials in Apple’s trade-secrets lawsuit, potentially helping Apple investigate the recruitment of former employees and its claims against OpenAI. Judge orders OpenAI to turn over hiring records
• Neutral Sentiment: Investors are awaiting iPhone Duo preorders on October 16. Strong purchase intent could support the stock, but pricing and delivery trends will be closely watched.
• Negative Sentiment: Some suppliers are reportedly cutting production of newer iPhone models, while shorter delivery windows for Pro models raise questions about demand. Apple’s shares also trade at a demanding valuation, leaving less room for disappointing December-quarter guidance.
• Negative Sentiment: Analysts warn that SpaceX’s potential Starlink smartphone and Google’s expanding health-data platform could intensify competition in wireless services, wearables and ecosystem engagement over time.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AAPL shares. Raymond James Financial reiterated a "market perform" rating on shares of Apple in a research report on Friday, July 31st. DZ Bank lowered shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 price target for the company. in a report on Tuesday, August 4th. Citigroup restated a "buy" rating on shares of Apple in a research report on Thursday, September 10th. HSBC reaffirmed a "buy" rating and set a $366.00 price objective on shares of Apple in a report on Tuesday, September 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $340.39.

Apple Stock Up 0.1%

NASDAQ AAPL opened at $341.27 on Wednesday. The business has a fifty day moving average price of $324.00 and a 200 day moving average price of $304.61. Apple Inc. has a one year low of $243.42 and a one year high of $348.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The company has a market cap of $4.98 trillion, a P/E ratio of 39.14, a P/E/G ratio of 2.72 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter in the previous year, the company posted $1.57 EPS. The firm's quarterly revenue was up 16.4% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

Insider Buying and Selling at Apple

In related news, insider Timothy Cook sold 191,753 shares of the company's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the completion of the sale, the insider owned 3,264,168 shares of the company's stock, valued at approximately $1,086,837,377.28. This represents a 5.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the sale, the senior vice president owned 41,992 shares of the company's stock, valued at approximately $14,116,870.56. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 279,383 shares of company stock valued at $92,912,517. Insiders own 0.06% of the company's stock.

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.

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