TradeWell Securities LLC. Sells 3,865 Shares of Apple Inc. $AAPL

Key Points

• TradeWell Securities cut its Apple holding by 2.6%, selling 3,865 shares; it still owns 146,206 shares worth about $48.69 million, Apple’s second-largest portfolio position.
• Apple reported quarterly earnings of $2.10 per share and revenue of $114.48 billion, beating analyst estimates; revenue rose 11.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $343.74, though recent ratings include both upgrades and downgrades.

TradeWell Securities LLC. trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,206 shares of the iPhone maker's stock after selling 3,865 shares during the quarter. Apple accounts for 16.5% of TradeWell Securities LLC.'s portfolio, making the stock its 2nd largest holding. TradeWell Securities LLC.'s holdings in Apple were worth $48,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Avenir Tech Ltd acquired a new stake in Apple in the 2nd quarter worth $29,000. Ironwood Wealth Management Inc. bought a new stake in shares of Apple in the third quarter valued at about $34,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Apple in the second quarter valued at about $30,000. ABS Investment Management LLC acquired a new stake in Apple during the second quarter worth about $376,168,000. Finally, Bamco Inc. NY acquired a new stake in Apple during the second quarter worth about $118,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AAPL. TD Cowen cut their price target on Apple from $400.00 to $390.00 and set a "buy" rating for the company in a report on Tuesday, November 3rd. Oppenheimer restated a "market perform" rating on shares of Apple in a research report on Thursday, September 10th. China Renaissance lowered Apple from a "buy" rating to a "hold" rating and cut their target price for the company from $329.00 to $280.00 in a research note on Tuesday, August 4th. The Goldman Sachs Group set a $380.00 target price on Apple in a research report on Wednesday. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Apple in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $343.74.

Apple Stock Down 0.5%

Shares of AAPL opened at $342.37 on Friday. The stock has a market cap of $4.98 trillion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 3.21 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The company has a 50-day moving average price of $336.01 and a two-hundred day moving average price of $298.50.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The company had revenue of $114.48 billion for the quarter, compared to the consensus estimate of $113.40 billion. During the same period in the previous year, the business earned $1.85 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 9.68 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 12th will be given 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 is Thursday, November 12th. Apple's dividend payout ratio (DPR) is 12.04%.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue estimates, with solid iPhone and Mac demand. Apple also says more apps optimized for its new foldable iPhone are coming, potentially improving the product’s appeal. Apple earnings beat
• Positive Sentiment: Apple has held up better than many chipmakers amid the AI-stock sell-off, and Bernstein raised its price target to $380 while maintaining a Buy rating. This relative strength may support investor sentiment. Apple holds up amid market weakness
• Neutral Sentiment: Apple is reportedly seeking about $7.5 billion through a bond offering. The financing provides flexibility, though the reports do not specify its use. The company is also limiting some employees’ AI-tool budgets, a move that could help control costs but raises questions about its internal AI investment. Apple bond sale report
• Negative Sentiment: Management warned of unprecedented memory-chip costs and supply constraints heading into the holiday quarter, putting gross margins at risk despite healthy demand. Investors are also weighing slower Services growth and Apple’s premium valuation. Memory costs and supply constraints

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,392 shares of Apple stock in a transaction on Friday, October 16th. The shares were sold at an average price of $345.05, for a total value of $480,309.60. Following the transaction, the chief financial officer directly owned 17,539 shares of the company's stock, valued at approximately $6,051,831.95. The trade was a 7.35% 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. Insiders have sold 291,651 shares of company stock worth $97,082,537 over the last quarter. Corporate insiders own 0.06% of the company's stock.

Apple 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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