Apple (NASDAQ:AAPL) CFO Sells 1,392 Shares of Company Stock

Key Points

• Apple CFO Kevan Parekh sold 1,392 shares for approximately $480,310 at an average price of $345.05. The sale reduced his direct ownership by 7.35% and was made to cover tax withholding on vested equity awards.
• Apple shares traded near their 52-week high at $342.94, while the company reported quarterly revenue of $109.42 billion and earnings per share of $2.02, exceeding analyst expectations.
• Analysts remain broadly positive, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $341.81; institutional investors own approximately 67.73% of the stock.

Apple Inc. (NASDAQ:AAPL - Get Free Report) CFO Kevan Parekh sold 1,392 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $345.05, for a total value of $480,309.60. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Apple Price Performance

Shares of Apple stock traded down $0.52 during midday trading on Monday, hitting $342.94. 34,535,310 shares of the company were exchanged, compared to its average volume of 48,554,250. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a market cap of $5.00 trillion, a P/E ratio of 39.33, a PEG ratio of 2.72 and a beta of 1.07. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $348.15. The firm has a 50 day simple moving average of $325.83 and a 200-day simple moving average of $306.58.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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 return on equity of 135.46% and a net margin of 27.62%. The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. Apple's quarterly revenue was up 16.4% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Announces Dividend

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

Institutional Investors Weigh In On Apple

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAPL. Tanager Wealth Management LLP boosted its holdings in Apple by 3.4% during the third quarter. Tanager Wealth Management LLP now owns 69,765 shares of the iPhone maker's stock worth $23,233,000 after buying an additional 2,281 shares during the last quarter. Highland Financial Advisors LLC increased its stake in shares of Apple by 5.2% in the 3rd quarter. Highland Financial Advisors LLC now owns 8,079 shares of the iPhone maker's stock valued at $2,691,000 after acquiring an additional 400 shares during the last quarter. Value Partners Investments Inc. increased its stake in shares of Apple by 10.3% in the 3rd quarter. Value Partners Investments Inc. now owns 1,931 shares of the iPhone maker's stock valued at $645,000 after acquiring an additional 180 shares during the last quarter. Fairvoy Private Wealth LLC raised its position in shares of Apple by 2.4% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 44,576 shares of the iPhone maker's stock valued at $14,845,000 after acquiring an additional 1,025 shares during the period. Finally, Clark Financial Services Group Inc. BD increased its stake in Apple by 1.1% in the third quarter. Clark Financial Services Group Inc. BD now owns 27,189 shares of the iPhone maker's stock valued at $9,055,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Preorders for Apple’s $1,999 foldable iPhone Duo reportedly sold out quickly, with delivery estimates extending into January 2027. Analysts described demand as strong, potentially supporting higher iPhone revenue and margins. Apple’s iPhone Duo Demand Soars as Deliveries Stretch Into January 2027
• Positive Sentiment: Bank of America reiterated a Buy rating and a $370 price target, citing robust iPhone Duo demand and Apple’s longer-term artificial-intelligence opportunity. JPMorgan also maintained an Overweight rating and a $360 target. Apple Maintained at Buy With Unchanged $370 Price Target
• Positive Sentiment: Apple announced a “Pro and Tell” event for October 28. Expectations for new Macs, including a possible touchscreen MacBook Pro, could create a near-term product catalyst and reinforce growth in the Mac business. Apple Announces Product Launch Event for Oct. 28
• Neutral Sentiment: Apple is reportedly developing a higher-end HomeView device with a robotic arm that could launch in 2027. The product may expand Apple’s smart-home ecosystem, but it remains an early-stage report. Apple Already Developing Higher-End HomeView
• Negative Sentiment: A KeyBanc survey indicated that consumer intentions to upgrade iPhones over the next year may weaken, despite better early iPhone 18 adoption. The concern is significant because AAPL trades near record highs at an elevated valuation. Apple Stock in Red: Why This Analyst Thinks iPhone Demand Will Weaken
• Negative Sentiment: UK regulators are expected to push Apple to allow alternative default payment services on the iPhone, potentially pressuring Apple Pay-related revenue and its control over the iOS ecosystem. UK Regulator Set to Push Apple to Open iPhone Payment Technology

Analyst Ratings Changes

Several research firms have recently weighed in on AAPL. JPMorgan Chase & Co. upped their target price on shares of Apple from $340.00 to $360.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. DA Davidson reissued a "neutral" rating and set a $270.00 price target on shares of Apple in a report on Wednesday, September 2nd. Rosenblatt Securities restated a "neutral" rating and issued a $303.00 price target on shares of Apple in a research report on Thursday, September 10th. HSBC restated a "buy" rating and issued a $366.00 price target on shares of Apple in a research report on Tuesday, September 8th. Finally, KGI Securities cut shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective on the stock. in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average target price of $341.81.

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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