43,235 Apple Inc. $AAPL Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas cut its stake in Apple Inc. (NASDAQ:AAPL) by 10.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 368,273 shares of the iPhone maker’s stock after selling 43,235 shares during the period. Apple makes up approximately 6.3% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its largest holding. Smith Chas P & Associates PA Cpas’ holdings in Apple were worth $126,487,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. McCarley & Cook Financial Planners increased its stake in shares of Apple by 2.3% during the 3rd quarter. McCarley & Cook Financial Planners now owns 1,602 shares of the iPhone maker’s stock worth $533,000 after purchasing an additional 36 shares in the last quarter. Kooman & Associates raised its holdings in shares of Apple by 5.4% in the third quarter. Kooman & Associates now owns 9,032 shares of the iPhone maker’s stock worth $3,008,000 after acquiring an additional 463 shares during the last quarter. Crescent Grove Advisors LLC lifted its position in shares of Apple by 0.5% in the third quarter. Crescent Grove Advisors LLC now owns 73,971 shares of the iPhone maker’s stock valued at $24,634,000 after acquiring an additional 377 shares in the last quarter. Cardinal Capital Management increased its position in Apple by 0.4% during the 3rd quarter. Cardinal Capital Management now owns 86,800 shares of the iPhone maker’s stock worth $28,906,000 after purchasing an additional 366 shares in the last quarter. Finally, Oakmont Investment Advisors Inc. raised its stake in Apple by 1.2% in the 3rd quarter. Oakmont Investment Advisors Inc. now owns 21,397 shares of the iPhone maker’s stock valued at $7,126,000 after purchasing an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler initiated coverage on shares of Apple in a report on Monday, August 17th. They set an “overweight” rating for the company. Sanford C. Bernstein increased their price target on Apple from $370.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Bank of America reaffirmed a “buy” rating and issued a $370.00 price objective on shares of Apple in a research report on Wednesday, September 23rd. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a report on Wednesday, September 9th. Finally, HSBC reissued a “buy” rating on shares of Apple in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $343.74.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported quarterly revenue of $114.48 billion and EPS of $2.10, topping estimates, with double-digit growth in hardware and services. Article
• Positive Sentiment: Apple Intelligence cleared a Chinese regulatory step for use on tablets and laptops, potentially expanding the service’s reach in a major market. Article
• Positive Sentiment: Apple has begun offering $49.99 add-on packs for extra AI usage in Creator Studio, a potential new revenue stream from its AI features. Article
• Positive Sentiment: Commentary points to resilient iPhone demand and Apple’s comparatively restrained AI spending as advantages amid investor concerns about heavy AI investment elsewhere. Article
• Neutral Sentiment: Apple issued $7.5 billion in senior unsecured notes. The financing provides capital but also adds debt; the announcement does not specify a direct operating catalyst. Article
• Negative Sentiment: Reports warn that rising memory-chip costs could pressure margins, while some analysts question whether Apple’s valuation leaves limited room for further gains. Article

Apple Stock Performance

Shares of AAPL stock opened at $350.69 on Tuesday. The company’s fifty day simple moving average is $336.63 and its 200-day simple moving average is $299.02. Apple Inc. has a 52 week low of $243.42 and a 52 week high of $355.38. The company has a current ratio of 1.02, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.10 trillion, a PE ratio of 39.10, a P/E/G ratio of 3.30 and a beta of 1.07.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The firm 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 revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. As a group, equities research analysts anticipate that Apple Inc. will post 9.68 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 12th will be given 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 (DPR) is 12.04%.

Insider Activity at Apple

In other news, CEO John Ternus sold 25,412 shares of the business’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 transaction, the chief executive officer directly owned 59,567 shares of the company’s stock, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $345.05, for a total transaction of $480,309.60. Following the sale, 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 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 three months, insiders have sold 290,212 shares of company stock valued at $96,639,685. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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.