Violich Capital Management Inc. Sells 3,240 Shares of Apple Inc. $AAPL

Key Points

• Violich Capital Management reduced its Apple position by 3,240 shares, or 1.5%, leaving it with 206,516 shares valued at approximately $68.6 million. Apple remains the fund’s fourth-largest holding and represents 7.4% of its portfolio.
• Institutional investors own 67.73% of Apple, while insiders have sold 279,383 shares worth about $92.9 million over the past 90 days, primarily to cover tax obligations tied to equity awards.
• Apple’s outlook remains broadly favorable, supported by new smart-home products and Buy ratings, though analysts cite demanding valuation, potential iPhone production cuts and intensifying ecosystem competition as risks.

Violich Capital Management Inc. lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% 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 206,516 shares of the iPhone maker's stock after selling 3,240 shares during the period. Apple comprises about 7.4% of Violich Capital Management Inc.'s portfolio, making the stock its 4th largest position. Violich Capital Management Inc.'s holdings in Apple were worth $68,561,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AAPL. State Street Corp lifted its position in shares of Apple by 4.7% during the 2nd quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock worth $182,897,769,000 after buying an additional 28,321,085 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in shares of Apple in the 2nd quarter worth approximately $65,950,297,000. Bank of America Corp DE purchased a new position in shares of Apple in the 2nd quarter worth approximately $36,986,090,000. Legal & General Group Plc bought a new position in shares of Apple in the second quarter valued at approximately $30,443,242,000. Finally, Amundi grew its holdings in shares of Apple by 23.2% in the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after acquiring an additional 13,780,080 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO John Ternus sold 25,412 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the transaction, the chief executive officer directly owned 59,567 shares in the company, valued at approximately $19,832,236.98. This trade represents a 29.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This represents a 25.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 279,383 shares of company stock valued at $92,912,517 over the last ninety days. 0.06% of the stock is owned by insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple launched the $299 HomeView smart-home hub, featuring an upgraded Siri AI assistant, along with a new Apple TV 4K, HomePod mini 2, cameras, a video doorbell, smart lock, thermostat and other accessories. The products expand Apple’s ecosystem into the home and provide a potential new source of hardware and services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Partnerships with LG Electronics and Schneider Electric broaden the Apple Home Collection, including security, energy-management and access-control products that could increase engagement with iPhones, Apple Watches and other Apple devices. LG announces smart-home accessories developed with Apple
• Positive Sentiment: Analyst support remains favorable. Bernstein reiterated a Buy rating with a $370 target, while JPMorgan raised its target to $360. Reports also indicate Apple’s iPhone market share reached 22% in the latest quarter, and iPhone 18 Pro demand may be stronger than last year. Bernstein reiterates Buy rating on Apple
• Positive Sentiment: A federal judge ordered OpenAI to provide hiring records and other materials in Apple’s trade-secrets lawsuit, potentially helping Apple investigate the recruitment of former employees and its claims against OpenAI. Judge orders OpenAI to turn over hiring records
• Neutral Sentiment: Investors are awaiting iPhone Duo preorders on October 16. Strong purchase intent could support the stock, but pricing and delivery trends will be closely watched.
• Negative Sentiment: Some suppliers are reportedly cutting production of newer iPhone models, while shorter delivery windows for Pro models raise questions about demand. Apple’s shares also trade at a demanding valuation, leaving less room for disappointing December-quarter guidance.
• Negative Sentiment: Analysts warn that SpaceX’s potential Starlink smartphone and Google’s expanding health-data platform could intensify competition in wireless services, wearables and ecosystem engagement over time.

Apple Price Performance

Shares of NASDAQ AAPL opened at $341.27 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $348.15. The stock has a market cap of $4.98 trillion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07. The stock has a fifty day moving average of $324.00 and a 200-day moving average of $304.61.

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, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 EPS. Equities research analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple's dividend payout ratio is presently 12.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. Weiss Ratings raised Apple from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. The Goldman Sachs Group started coverage on Apple in a research report on Monday, August 17th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft cut Apple from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Barclays restated an "underweight" rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a research note on Friday, July 31st. Finally, Evercore set a $380.00 target price on Apple and gave the company an "outperform" rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $340.39.

Apple 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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