Wavvest Wealth LLC Acquires 4,891 Shares of Apple Inc. $AAPL

Wavvest Wealth LLC bought a new stake in shares of Apple Inc. (NASDAQ:AAPL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,891 shares of the iPhone maker’s stock, valued at approximately $1,629,000. Apple accounts for approximately 1.3% of Wavvest Wealth LLC’s portfolio, making the stock its 18th biggest holding.

Several other large investors also recently modified their holdings of the stock. Avenir Tech Ltd bought a new stake in Apple during the second quarter worth about $29,000. Longfellow Investment Management Co. LLC bought a new position in Apple in the 2nd quarter valued at about $30,000. Ironwood Wealth Management Inc. bought a new position in Apple in the 3rd quarter valued at about $34,000. Ascentis Wealth Management LLC raised its position in shares of 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 in the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of Apple in the 2nd quarter valued at approximately $118,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value 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 approximately $45,615,190.20. This represents a 25.32% decrease in their position. The sale was disclosed in a legal 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, CFO Kevan Parekh sold 1,392 shares of the 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 completion of the transaction, the chief financial officer owned 17,539 shares of the company’s stock, valued at $6,051,831.95. The trade was a 7.35% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 291,651 shares of company stock valued at $97,082,537. 0.06% of the stock is currently owned by insiders.

Key Stories Impacting Apple

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

Apple Stock Performance

Shares of Apple stock opened at $342.37 on Monday. The firm has a market capitalization of $4.98 trillion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 3.22 and a beta of 1.07. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $336.01 and its 200 day moving average is $298.50. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $355.38.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The business had revenue of $114.48 billion during the quarter, compared to analysts’ expectations of $113.40 billion. Apple had a net margin of 27.60% and a return on equity of 125.35%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 EPS. Equities research analysts forecast that Apple Inc. will post 9.68 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 12th. Apple’s payout ratio is presently 12.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAPL. Argus upped their price target on shares of Apple from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Citigroup restated a “buy” rating on shares of Apple in a research note on Thursday, September 10th. Maxim Group raised their target price on Apple from $350.00 to $380.00 and gave the company a “buy” rating in a report on Friday, July 31st. HSBC reiterated a “buy” rating on shares of Apple in a research note on Tuesday, October 27th. Finally, Sanford C. Bernstein boosted their price target on Apple from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $343.74.

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.