Massachusetts Wealth Management Sells 1,527 Shares of Apple Inc. $AAPL

Massachusetts Wealth Management lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,896 shares of the iPhone maker's stock after selling 1,527 shares during the period. Apple comprises about 2.5% of Massachusetts Wealth Management's portfolio, making the stock its 6th largest position. Massachusetts Wealth Management's holdings in Apple were worth $6,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Mid American Wealth Advisory Group Inc. boosted its holdings in shares of Apple by 14.1% in the 3rd quarter. Mid American Wealth Advisory Group Inc. now owns 4,929 shares of the iPhone maker's stock worth $1,642,000 after buying an additional 608 shares during the last quarter. Onyx Financial Advisors LLC bought a new position in Apple during the third quarter valued at about $306,000. Piedmont Capital Management LLC NC increased its holdings in Apple by 0.9% during the third quarter. Piedmont Capital Management LLC NC now owns 15,542 shares of the iPhone maker's stock worth $5,176,000 after buying an additional 133 shares during the last quarter. Catalyst Investment Management LLC increased its holdings in Apple by 42.1% during the third quarter. Catalyst Investment Management LLC now owns 8,728 shares of the iPhone maker's stock worth $2,907,000 after buying an additional 2,585 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new stake in Apple during the third quarter worth about $706,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 1,392 shares of the firm's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $345.05, for a total value of $480,309.60. Following the completion of the transaction, the chief financial officer directly owned 17,539 shares of the company's stock, valued at $6,051,831.95. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Apple stock in a transaction 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 approximately $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 three months, insiders have sold 290,212 shares of company stock worth $96,639,685. Company insiders own 0.06% of the company's stock.

Key Stories Impacting Apple

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

Apple Price Performance

AAPL opened at $350.69 on Tuesday. The firm has a 50-day moving average price of $336.63 and a 200-day moving average price of $299.02. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $355.38. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The company has a market capitalization 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, beating analysts' consensus estimates of $1.99 by $0.11. The company had revenue of $114.48 billion for the quarter, compared to analysts' expectations of $113.40 billion. Apple had a net margin of 27.60% and a return on equity of 125.35%. Apple's revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 EPS. Equities analysts expect that Apple Inc. will post 9.68 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple's payout ratio is presently 12.04%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAPL. Deutsche Bank Aktiengesellschaft lowered shares of Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. DA Davidson increased their target price on shares of Apple from $270.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, November 3rd. China Renaissance cut shares of Apple from a "buy" rating to a "hold" rating and lowered their price target for the stock from $329.00 to $280.00 in a report on Tuesday, August 4th. Barclays upped their price objective on Apple from $245.00 to $261.00 and gave the company an "underweight" rating in a research note on Tuesday, November 3rd. Finally, Morgan Stanley set a $350.00 price objective on Apple and gave the company an "overweight" rating in a report on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $343.74.

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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