Lmcg Investments LLC Sells 6,948 Shares of Apple Inc. $AAPL

Lmcg Investments LLC lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,518 shares of the iPhone maker's stock after selling 6,948 shares during the quarter. Apple accounts for approximately 4.4% of Lmcg Investments LLC's portfolio, making the stock its largest holding. Lmcg Investments LLC's holdings in Apple were worth $84,093,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Avenir Tech Ltd bought a new position in shares of Apple during the 2nd quarter valued at about $29,000. Ironwood Wealth Management Inc. bought a new stake in Apple in the 3rd quarter worth approximately $34,000. Longfellow Investment Management Co. LLC bought a new stake in Apple in the 2nd quarter worth approximately $30,000. ABS Investment Management LLC bought a new stake in Apple in the 2nd quarter worth approximately $376,168,000. Finally, Bamco Inc. NY purchased a new stake in Apple in the second quarter worth approximately $118,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

AAPL opened at $350.69 on Tuesday. The stock's 50 day simple moving average is $336.63 and its 200 day simple moving average is $299.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.93. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $355.38. The firm has a market cap of $5.10 trillion, a price-to-earnings ratio of 39.10, a PEG ratio of 3.30 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The business had revenue of $114.48 billion for the quarter, compared to analysts' expectations of $113.40 billion. During the same period in the previous year, the firm earned $1.85 EPS. The business's quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 9.68 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 12th will be 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 is Thursday, November 12th. Apple's payout ratio is presently 12.04%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported quarterly revenue of $114.48 billion and EPS of $2.10, topping estimates, with double-digit growth in hardware and services. Article
• Positive Sentiment: Apple Intelligence cleared a Chinese regulatory step for use on tablets and laptops, potentially expanding the service’s reach in a major market. Article
• Positive Sentiment: Apple has begun offering $49.99 add-on packs for extra AI usage in Creator Studio, a potential new revenue stream from its AI features. Article
• Positive Sentiment: Commentary points to resilient iPhone demand and Apple’s comparatively restrained AI spending as advantages amid investor concerns about heavy AI investment elsewhere. Article
• Neutral Sentiment: Apple issued $7.5 billion in senior unsecured notes. The financing provides capital but also adds debt; the announcement does not specify a direct operating catalyst. Article
• Negative Sentiment: Reports warn that rising memory-chip costs could pressure margins, while some analysts question whether Apple’s valuation leaves limited room for further gains. Article

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Argus increased their price target on shares of Apple from $375.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday, November 3rd. Seaport Research Partners lowered shares of Apple from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. Jefferies Financial Group reaffirmed an "underperform" rating on shares of Apple in a research note on Wednesday, September 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Friday, July 31st. Finally, HSBC reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $343.74.

Insider Activity

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the completion of the sale, the senior vice president owned 39,593 shares of the company's stock, valued at $13,145,271.93. This represents a 5.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction 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 approximately $45,615,190.20. This trade represents a 25.32% 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 sold 290,212 shares of company stock valued at $96,639,685 in the last three months. Corporate insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS.

The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple's devices and are sold to consumers, businesses and institutions around the world.

Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.

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