Forum Financial Management LP Sells 3,613 Shares of Apple Inc. $AAPL

Key Points

• Forum Financial Management LP reduced its Apple stake by 1.4%, selling 3,613 shares and retaining 251,748 shares valued at approximately $83.8 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly earnings of $2.02 per share and revenue of $109.42 billion, exceeding analyst expectations, while revenue increased 16.4% year over year. The stock opened at $344.63 with a market capitalization of roughly $5.03 trillion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $340.49, though elevated valuation, insider selling and rising component costs present risks ahead of the company’s next earnings report.

Forum Financial Management LP trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,748 shares of the iPhone maker's stock after selling 3,613 shares during the period. Apple accounts for approximately 1.1% of Forum Financial Management LP's holdings, making the stock its 13th largest position. Forum Financial Management LP's holdings in Apple were worth $83,837,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp lifted its position 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 bought a new position in shares of Apple during the 2nd quarter valued at approximately $65,950,297,000. Bank of America Corp DE bought a new position in shares of Apple during the 2nd quarter valued at approximately $36,986,090,000. Legal & General Group Plc purchased a new stake in Apple in the 2nd quarter worth approximately $30,443,242,000. Finally, Amundi increased its holdings in Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after acquiring an additional 13,780,080 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 1.2%

Apple stock opened at $344.63 on Friday. The stock has a market cap of $5.03 trillion, a P/E ratio of 39.52, a PEG ratio of 2.73 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $351.73. The firm's 50 day moving average price is $333.04 and its 200-day moving average price is $296.38.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. The firm had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 earnings per share. On average, equities analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the business's stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $343.36, for a total value of $823,720.64. Following the sale, the senior vice president owned 32,396 shares in the company, valued at $11,123,490.56. The trade was a 6.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the completion of the sale, the senior vice president directly 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 289,252 shares of company stock worth $96,301,063. 0.06% of the stock is owned by corporate insiders.

Key Apple News

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. The Goldman Sachs Group started coverage on shares of Apple in a research note on Monday, August 17th. They set a "buy" rating on the stock. Robert W. Baird upped their price target on shares of Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. UBS Group reissued a "neutral" rating on shares of Apple in a research note on Tuesday, October 6th. Citic Securities raised their price objective on shares of Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Thursday, October 1st. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $340.49.

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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