Smith Chas P & Associates PA Cpas Sells 12,057 Shares of Apple Inc. $AAPL

Key Points

• Smith Chas P & Associates PA Cpas sold 12,057 Apple shares, reducing its position by 2.8% to 411,508 shares valued at approximately $119.1 million. Apple remains the fund’s second-largest holding and represents 5.8% of its portfolio.
• Analysts maintain a generally positive outlook, with Apple receiving a consensus “Moderate Buy” rating and an average price target of $340.39. Institutional investors own approximately 67.73% of the company.
• Apple reported quarterly earnings of $2.02 per share, exceeding estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. Shares opened at $340.97, near the company’s 12-month high.

Smith Chas P & Associates PA Cpas lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 411,508 shares of the iPhone maker's stock after selling 12,057 shares during the period. Apple accounts for about 5.8% of Smith Chas P & Associates PA Cpas' investment portfolio, making the stock its 2nd biggest holding. Smith Chas P & Associates PA Cpas' holdings in Apple were worth $119,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Avenir Tech Ltd acquired a new stake in shares of Apple during the 2nd quarter valued at $29,000. Longfellow Investment Management Co. LLC acquired a new position in Apple during the second quarter worth $30,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple in the fourth quarter worth $41,000. Ascentis Wealth Management LLC grew its holdings in Apple by 822.7% in the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock valued at $85,000 after buying an additional 260,792 shares during the last quarter. Finally, Basso Capital Management L.P. acquired a new stake in Apple during the fourth quarter worth about $88,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AAPL. Seaport Research Partners downgraded shares of Apple from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. Royal Bank Of Canada set a $365.00 price target on shares of Apple in a report on Wednesday, July 15th. The Goldman Sachs Group began coverage on shares of Apple in a research report on Monday, August 17th. They issued a "buy" rating for the company. UBS Group reaffirmed a "neutral" rating on shares of Apple in a report on Tuesday, October 6th. Finally, Bank of America reiterated a "buy" rating and issued a $370.00 price objective on shares of Apple in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.39.

Apple Trading Up 1.3%

Shares of Apple stock opened at $340.97 on Tuesday. 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 12-month low of $243.42 and a 12-month high of $345.34. The company has a market capitalization of $4.98 trillion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.68 and a beta of 1.07. The firm's 50-day moving average price is $323.36 and its two-hundred day moving average price is $303.99.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the previous year, the company earned $1.57 EPS. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other news, CEO John Ternus sold 25,412 shares of the business's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $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 have sold 279,383 shares of company stock valued at $92,912,517 over the last ninety days. 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: JPMorgan raised its Apple price target from $340 to $360 and maintained an “Overweight” rating, citing improved iPhone 18 Pro demand. Bank of America reiterated its Buy rating and kept a $370 target, viewing potential Starlink competition as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Apple reportedly reached a 22% share of the global smartphone market in the third quarter, supported by premium iPhone 18 Pro demand despite an overall industry shipment decline. Reports of strong orders for a new foldable iPhone also provided an additional growth narrative. Apple Stock Nears Record High as iPhone Market Share Hits 22%
• Positive Sentiment: Investors are anticipating Apple’s expanded smart-home strategy, including a rumored HomeView hub and updated Apple TV and HomePod mini. A successful launch could strengthen Apple’s ecosystem and open a new product category. Will the HomeView Be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession is proceeding with John Ternus replacing Tim Cook, while Cook becomes executive chairman. Apple also met with Chinese officials, underscoring the importance of maintaining stable business and trade relations in its largest overseas market. Tim Cook Meets China’s Vice Premier
• Negative Sentiment: SpaceX’s planned Starlink mobile service could pressure wireless-carrier subsidies that support iPhone sales and eventually create a competing smartphone ecosystem. SpaceX’s Starlink Could Pose Risks to Apple
• Negative Sentiment: Reported supplier order reductions and rising memory costs are renewing concerns about iPhone 18 demand and margins. Google’s integration of wearable data with more than 160 lab tests also increases competition for Apple’s health-platform advantage. iPhone 18 Demand and Supplier Order Cuts

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets 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 software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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