Sterling Capital Management LLC Sells 44,278 Shares of Apple Inc. $AAPL

Key Points

• Sterling Capital Management cut its Apple stake by 13.9% in the third quarter, selling 44,278 shares. It ended the period with 274,627 shares worth about $91.5 million, making Apple its fifth-largest holding.
• Apple reported quarterly EPS of $2.10, beating the $1.99 analyst consensus, while revenue of $114.48 billion also topped estimates and rose 11.7% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $347.11. Apple also announced a quarterly dividend of $0.27 per share.

Sterling Capital Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,627 shares of the iPhone maker's stock after selling 44,278 shares during the period. Apple accounts for about 1.8% of Sterling Capital Management LLC's investment portfolio, making the stock its 5th largest holding. Sterling Capital Management LLC's holdings in Apple were worth $91,456,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AAPL. Avenir Tech Ltd purchased a new position in shares of Apple during the second quarter valued at approximately $29,000. Ironwood Wealth Management Inc. purchased a new stake in shares of Apple in the 3rd quarter worth approximately $34,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Apple in the 2nd quarter worth approximately $30,000. ABS Investment Management LLC purchased a new stake in shares of Apple in the 2nd quarter worth approximately $376,168,000. Finally, Bamco Inc. NY bought a new position in Apple during the 2nd quarter valued at approximately $118,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Latest Apple News

Investors following AAPL have been watching these news items:

• Positive Sentiment: Apple recently reached a record high, with one analyst describing the stock as a “safe haven” amid market turmoil. CIBC also included AAPL among its post-election stock picks. Apple Stock Called 'Safe Haven,' Hits Record High
• Negative Sentiment: Higher memory-chip prices are a near-term margin risk. Apple’s December-quarter gross-margin outlook was reported below analyst expectations, despite record quarterly sales, raising concerns that component costs could weigh on profitability. Why Apple Stock Fell Despite a Record Quarter
• Negative Sentiment: Some analysts and investors view AAPL as expensive after its strong run, while recent coverage shows disagreement on the outlook, including a DZ Bank downgrade to Sell. Rich valuation leaves less room for disappointment. Apple Shares Look Expensive Heading into 2027

Apple Price Performance

NASDAQ AAPL opened at $354.88 on Friday. The stock has a market capitalization of $5.16 trillion, a price-to-earnings ratio of 39.56, a PEG ratio of 3.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.94. The business's fifty day moving average price is $338.48 and its 200-day moving average price is $300.56. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $359.37.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.11. The business had revenue of $114.48 billion during the quarter, compared to the consensus estimate of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. On average, equities analysts predict that Apple Inc. will post 9.45 earnings per share for the current year.

Apple Dividend Announcement

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 issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio is currently 12.04%.

Insider Activity

In related news, CEO John Ternus sold 25,412 shares of the company's stock in a transaction on Friday, October 2nd. The shares were 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 in the company, valued at approximately $19,832,236.98. This represents a 29.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 firm's stock in a transaction dated 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 transaction, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. The trade was 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. Over the last 90 days, insiders sold 292,611 shares of company stock worth $97,482,597. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group set a $380.00 price objective on Apple in a research note on Wednesday, November 4th. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating in a report on Friday, November 6th. Morgan Stanley set a $350.00 target price on Apple and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. DA Davidson raised their price target on Apple from $270.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, November 3rd. Finally, Robert W. Baird set a $340.00 price target on shares of Apple and gave the stock an "outperform" rating in a research note on Tuesday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $347.11.

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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