Maryland Capital Advisors Inc. Sells 2,772 Shares of Apple Inc. $AAPL

Key Points

• Maryland Capital Advisors reduced its Apple stake by 6.3% in the third quarter, selling 2,772 shares and retaining 41,490 shares valued at approximately $13.8 million. Apple remains the firm’s sixth-largest holding and represents 4.3% of its portfolio.
• Apple shares opened at $347.10, near their 12-month high, with a market capitalization of about $5.07 trillion and a P/E ratio of 39.81. The company recently reported 16.4% year-over-year revenue growth and earnings that exceeded analyst expectations.
• Investor sentiment is broadly positive, supported by strong iPhone demand and a consensus “Moderate Buy” rating with a $340.12 price target, though concerns include potential shipment cuts, elevated valuation, memory costs and reported cracking issues with the foldable iPhone Duo.

Maryland Capital Advisors Inc. reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 41,490 shares of the iPhone maker's stock after selling 2,772 shares during the period. Apple accounts for approximately 4.3% of Maryland Capital Advisors Inc.'s investment portfolio, making the stock its 6th largest holding. Maryland Capital Advisors Inc.'s holdings in Apple were worth $13,816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospect Hill Management LLC bought a new stake in shares of Apple during the second quarter worth approximately $146,370,000. Focus Partners Advisor Solutions LLC acquired a new position in Apple in the second quarter valued at approximately $168,646,000. Wealthfront Advisers LLC bought a new position in Apple in the second quarter valued at approximately $482,388,000. Satovsky Asset Management LLC bought a new position in Apple in the second quarter valued at approximately $16,064,000. Finally, Gouws Capital LLC boosted its stake in Apple by 136.9% in the third quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker's stock valued at $12,490,000 after acquiring an additional 21,676 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Demand for Apple’s first foldable iPhone Duo has substantially exceeded supply. The $1,999 device reportedly sold out within minutes, delivery estimates extend into January, and Apple is said to be seeking as much as 30% more production capacity. This supports hopes for a new high-margin growth category and a broader iPhone upgrade cycle. Apple's Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
• Positive Sentiment: Initial global sales of the iPhone 18 Pro were 3.1% above the prior-generation Pro models, including a 29% increase in China. Strong premium-phone demand could help Apple’s revenue and services ecosystem. Initial global sales of Apple iPhone 18 Pro higher than 17 series
• Positive Sentiment: Apple launched an M6-powered 24-inch iMac and 14-inch MacBook Pro, promoting faster performance and on-device AI capabilities. The refresh could lift Mac sales and support Apple’s longer-term AI hardware strategy. Apple introduces the new 14-inch MacBook Pro with M6
• Neutral Sentiment: Apple also released iOS 27.2 with expanded Siri AI language support, security improvements and new features for the iPhone Duo. These updates may strengthen the ecosystem, but their near-term financial impact is uncertain. Apple rolls out iOS 27.2 with new Siri AI languages and security fixes
• Negative Sentiment: Some iPhone Duo owners report cracks and bright lines near the hinge. Apple acknowledged the display issue and is offering replacements, while teardown reports point to a possible hinge-related design problem. Potential warranty costs and reputational damage threaten the new product’s momentum. Some iPhone Duo owners say Apple's foldable cracked within hours
• Negative Sentiment: Loop Capital downgraded Apple to Hold and cut its price target to $330, citing possible iPhone shipment reductions and rising memory costs. At nearly 40 times earnings, investors may require strong December-quarter guidance to justify the valuation. Loop Capital Lowers Apple Stock Price Target on iPhone Shipment Concerns

Apple Stock Up 0.9%

AAPL opened at $347.10 on Wednesday. The stock has a market cap of $5.07 trillion, a P/E ratio of 39.81 and a beta of 1.07. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $351.73. The company has a fifty day simple moving average of $331.06 and a 200 day simple moving average of $295.09.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The business 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 posted $1.57 earnings per share. The business's revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Timothy Cook sold 191,753 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the completion of the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at $45,615,190.20. This 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 quarter, insiders have sold 286,853 shares of company stock worth $95,477,342. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Evercore reaffirmed an "outperform" rating on shares of Apple in a report on Tuesday. The Goldman Sachs Group initiated coverage on Apple in a research note on Monday, August 17th. They issued a "buy" rating on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research note on Friday, July 31st. Moffett Nathanson set a $283.00 price target on Apple and gave the stock a "neutral" rating in a research report on Tuesday, October 20th. Finally, HSBC reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.12.

Apple Company 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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