Peddock Capital Advisors LLC Buys 4,282 Shares of Apple Inc. $AAPL

Key Points

• Peddock Capital Advisors increased its Apple stake by 4.3% in the third quarter, acquiring 4,282 shares for a total holding of 104,788 shares valued at approximately $34.6 million. Apple represents 6.8% of the firm’s portfolio.
• Analysts maintain a generally positive outlook, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $340.49, although individual targets and ratings vary widely.
• Apple’s growth prospects are supported by AI investments, strong product demand and new hardware, but investors face risks from rising memory costs, potential margin pressure, high valuation and concerns about slowing iPhone growth ahead of earnings.

Peddock Capital Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,788 shares of the iPhone maker's stock after acquiring an additional 4,282 shares during the period. Apple accounts for 6.8% of Peddock Capital Advisors LLC's portfolio, making the stock its 2nd largest holding. Peddock Capital Advisors LLC's holdings in Apple were worth $34,634,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Berkshire Hathaway Inc purchased a new position in shares of Apple during the second quarter valued at about $65,950,297,000. Bank of America Corp DE bought a new stake in shares of Apple in the second quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple in the second quarter worth about $30,443,242,000. Deutsche Bank AG purchased a new stake in shares of Apple in the second quarter worth about $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Apple in the second quarter worth about $10,588,946,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays restated an "underweight" rating and set a $245.00 price target (down from $253.00) on shares of Apple in a report on Friday, July 31st. Royal Bank Of Canada set a $365.00 price objective on Apple in a research note on Wednesday, July 15th. Evercore reaffirmed an "outperform" rating on shares of Apple in a report on Tuesday. Moffett Nathanson set a $283.00 target price on Apple and gave the company a "neutral" rating in a research report on Tuesday, October 20th. Finally, UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average target price of $340.49.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple acquired Ascension Labs, which operates as Ascend.io, gaining access to agentic artificial-intelligence talent and intellectual property. The deal supports Apple’s effort to strengthen its AI capabilities, although financial terms were not disclosed. Apple Acquires AI Firm Ascend.io Talent and Patents
• Positive Sentiment: Demand indicators remain supportive: the foldable iPhone Duo reportedly sold out quickly, orders are backed up, and Apple is positioned to benefit from strong iPhone, Mac and Services demand. Analysts including Bank of America and Goldman Sachs remain constructive, with BofA reiterating a Buy rating and a $370 price target. Analyst Reiterates Buy on Apple
• Positive Sentiment: The first touchscreen MacBook Pro, equipped with OLED displays and M5 Pro or M5 Max chips, expands Apple’s premium hardware lineup and could support a new product-cycle catalyst. Apple Shows First Touchscreen Laptops
• Neutral Sentiment: Apple’s earnings report is the immediate focus. Investors will look for evidence that revenue growth, Services momentum and AI investments can offset rising component costs and potentially slower holiday growth. Options activity suggests substantial volatility around the release. Apple November 2 Earnings Preview
• Negative Sentiment: AI-related demand has sharply increased flash-memory prices, raising concerns that Apple’s gross margin will come under pressure. Qualcomm also indicated that Apple-related revenue is declining faster than previously expected, reinforcing concerns about the pace of future iPhone growth. AI Has Made Flash Memory More Expensive
• Negative Sentiment: At roughly 40 times earnings and near its yearly high, Apple has limited room for an earnings or guidance disappointment. A senior vice president’s repeated stock sales and a South Korean fine related to app-market practices add modest additional caution. Apple Insider Selling

Insider Buying and Selling at Apple

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $343.36, for a total transaction of $823,720.64. Following the sale, the senior vice president directly owned 32,396 shares in the company, valued at $11,123,490.56. This represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ben Borders sold 1,280 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $345.40, for a total value of $442,112.00. Following the completion of the sale, the insider directly owned 38,288 shares of the company's stock, valued at $13,224,675.20. The trade was a 3.23% 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. Over the last 90 days, insiders sold 289,252 shares of company stock valued at $96,301,063. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 1.2%

Shares of NASDAQ AAPL opened at $344.63 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $351.73. The firm's 50-day moving average price is $333.04 and its 200-day moving average price is $296.38. The stock has a market capitalization of $5.03 trillion, a price-to-earnings ratio of 39.52, a P/E/G ratio of 2.76 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The firm's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $1.57 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

About Apple

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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