Hanson & Doremus Investment Management Buys 2,458 Shares of Apple Inc. $AAPL

Key Points

• Hanson & Doremus Investment Management increased its Apple stake by 5.3% in the third quarter, purchasing 2,458 shares and bringing its total to 49,134 shares valued at approximately $16.4 million. Institutional investors and hedge funds collectively own 67.73% of Apple.
• Apple insiders sold 289,252 shares worth roughly $96.3 million over the past three months, including sales by Timothy Cook and John Ternus to cover tax obligations tied to vested equity awards.
• Analysts maintain a generally positive outlook, with Apple holding a consensus “Moderate Buy” rating and an average price target of $340.59. The company recently exceeded quarterly earnings and revenue estimates, while shares opened at $348.91 near their 12-month high.

Hanson & Doremus Investment Management grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,134 shares of the iPhone maker's stock after acquiring an additional 2,458 shares during the quarter. Apple accounts for 1.7% of Hanson & Doremus Investment Management's holdings, making the stock its 13th biggest position. Hanson & Doremus Investment Management's holdings in Apple were worth $16,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GFG Capital LLC raised its holdings in Apple by 3.0% during the 3rd quarter. GFG Capital LLC now owns 79,898 shares of the iPhone maker's stock worth $26,608,000 after buying an additional 2,337 shares during the period. Millennium Capital Advisors LLC lifted its stake in Apple by 1.7% in the third quarter. Millennium Capital Advisors LLC now owns 93,607 shares of the iPhone maker's stock valued at $31,069,000 after buying an additional 1,602 shares in the last quarter. Shelton Wealth Management LLC boosted its holdings in shares of Apple by 61.6% in the third quarter. Shelton Wealth Management LLC now owns 10,991 shares of the iPhone maker's stock valued at $3,423,000 after buying an additional 4,189 shares during the period. Pension & Wealth Management Advisors Inc. boosted its holdings in shares of Apple by 48.7% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 24,804 shares of the iPhone maker's stock valued at $8,252,000 after buying an additional 8,121 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in shares of Apple by 20.5% in the third quarter. Annex Advisory Services LLC now owns 547,098 shares of the iPhone maker's stock valued at $182,098,000 after buying an additional 93,191 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, insider Timothy Cook sold 191,753 shares of Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the sale, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the sale, the chief executive officer owned 59,567 shares in the company, valued at $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. 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 sold a total of 289,252 shares of company stock worth $96,301,063 in the last three months. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore reissued an "outperform" rating on shares of Apple in a research report on Tuesday. Weiss Ratings raised shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a research note on Thursday, September 10th. Barclays reiterated an "underweight" rating and set a $245.00 target price (down from $253.00) on shares of Apple in a report on Friday, July 31st. Finally, Royal Bank Of Canada set a $365.00 price target on Apple in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.59.

Apple Price Performance

Shares of AAPL opened at $348.91 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $351.73. The stock has a market capitalization of $5.09 trillion, a P/E ratio of 40.01, a P/E/G ratio of 2.72 and a beta of 1.07. The company has a 50 day moving average of $332.37 and a 200-day moving average of $295.96.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping 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 business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 8.75 EPS for the current fiscal year.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analysts remain optimistic ahead of earnings, citing strong demand for Apple’s new iPhone Duo, continued Services growth and potential AI-related momentum. Options activity also points to expectations for a post-earnings rally. Apple's Q4 Earnings Loom
• Positive Sentiment: Goldman Sachs reaffirmed its Buy rating, while Monness raised its price target to $355. Apple is also attracting attention as it approaches Nvidia in market capitalization, with revenue growth described as its fastest in about five years. Apple Stock Heads Toward All-Time High
• Positive Sentiment: Apple launched its first touchscreen MacBook Pro, featuring OLED displays and M5 Pro and M5 Max chips. The move expands the Mac product cycle and could support higher average selling prices, despite the premium starting price. Apple Shows First Touchscreen Laptops
• Neutral Sentiment: Forty-seven exchange-traded funds added to their Apple holdings, indicating continued institutional demand, although the purchases do not necessarily signal near-term changes in fundamentals. 47 ETFs Add to Apple Holdings
• Negative Sentiment: Investors face margin and valuation concerns. AI-driven flash-memory demand has sharply increased component costs, while Apple’s roughly 40-times earnings multiple leaves limited room for disappointing guidance. AI Has Made Flash Memory More Expensive
• Negative Sentiment: South Korea fined Apple and Google a combined $47.6 million over alleged unfair app-payment practices. Early reports of cracked iPhone Duo screens and an executive stock sale add smaller sources of investor caution. South Korea Fines Google and Apple

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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