Greenwich Wealth Management LLC Sells 4,172 Shares of Apple Inc. $AAPL

Key Points

• Greenwich Wealth Management reduced its Apple position by 2.7%, selling 4,172 shares in the second quarter and retaining 150,066 shares valued at approximately $43.4 million.
• Institutional investors own 67.73% of Apple, while analysts maintain a generally bullish outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $340.39.
• Apple reported quarterly revenue of $109.42 billion and earnings of $2.02 per share, exceeding estimates, while recent insider sales were primarily made to cover tax obligations on vested equity awards.

Greenwich Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,066 shares of the iPhone maker's stock after selling 4,172 shares during the quarter. Apple makes up approximately 1.6% of Greenwich Wealth Management LLC's portfolio, making the stock its 7th biggest position. Greenwich Wealth Management LLC's holdings in Apple were worth $43,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. increased its stake in shares of Apple by 10.5% in the second quarter. QRG Capital Management Inc. now owns 2,659,362 shares of the iPhone maker's stock worth $771,119,000 after buying an additional 252,894 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Apple by 10.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 693,928 shares of the iPhone maker's stock worth $201,044,000 after buying an additional 67,072 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Apple by 9.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,628,132 shares of the iPhone maker's stock worth $4,249,340,000 after acquiring an additional 1,304,406 shares in the last quarter. State Street Corp lifted its position in Apple by 4.7% during 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 period. Finally, Silicon Valley Capital Partners boosted its holdings in shares of Apple by 0.8% during the 2nd quarter. Silicon Valley Capital Partners now owns 205,570 shares of the iPhone maker's stock valued at $59,484,000 after buying an additional 1,555 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AAPL shares. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Thursday, October 1st. Moffett Nathanson reiterated a "neutral" rating and set a $304.00 target price (up from $270.00) on shares of Apple in a research note on Tuesday, September 8th. Evercore set a $380.00 target price on Apple and gave the stock an "outperform" rating in a report on Friday, September 18th. Rothschild & Co Redburn set a $400.00 price target on Apple and gave the stock a "buy" rating in a research note on Monday, August 17th. Finally, TD Cowen reaffirmed a "buy" rating and set a $400.00 price target on shares of Apple in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average price target of $340.39.

Apple Stock Up 1.3%

AAPL opened at $340.97 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $323.36 and a 200-day moving average price of $303.99. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $345.34. The stock has a market capitalization of $4.98 trillion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 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 the consensus estimate of $109.04 billion. During the same quarter in the prior year, the firm earned $1.57 earnings per share. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's payout ratio is currently 12.39%.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan raised its Apple price target from $340 to $360 and maintained an “Overweight” rating, citing improved iPhone 18 Pro demand. Bank of America reiterated its Buy rating and kept a $370 target, viewing potential Starlink competition as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Apple reportedly reached a 22% share of the global smartphone market in the third quarter, supported by premium iPhone 18 Pro demand despite an overall industry shipment decline. Reports of strong orders for a new foldable iPhone also provided an additional growth narrative. Apple Stock Nears Record High as iPhone Market Share Hits 22%
• Positive Sentiment: Investors are anticipating Apple’s expanded smart-home strategy, including a rumored HomeView hub and updated Apple TV and HomePod mini. A successful launch could strengthen Apple’s ecosystem and open a new product category. Will the HomeView Be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession is proceeding with John Ternus replacing Tim Cook, while Cook becomes executive chairman. Apple also met with Chinese officials, underscoring the importance of maintaining stable business and trade relations in its largest overseas market. Tim Cook Meets China’s Vice Premier
• Negative Sentiment: SpaceX’s planned Starlink mobile service could pressure wireless-carrier subsidies that support iPhone sales and eventually create a competing smartphone ecosystem. SpaceX’s Starlink Could Pose Risks to Apple
• Negative Sentiment: Reported supplier order reductions and rising memory costs are renewing concerns about iPhone 18 demand and margins. Google’s integration of wearable data with more than 160 lab tests also increases competition for Apple’s health-platform advantage. iPhone 18 Demand and Supplier Order Cuts

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 46,389 shares of the firm's stock in a transaction on 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 transaction, 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 position. The transaction 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 Apple stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the sale, the chief executive officer directly owned 59,567 shares of the company's stock, valued at $19,832,236.98. The trade was a 29.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 279,383 shares of company stock valued at $92,912,517 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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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