Apple Inc. $AAPL Stock Bought by Norris Perne & French LLP MI

Norris Perne & French LLP MI lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 255.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,368 shares of the iPhone maker’s stock after buying an additional 34,763 shares during the period. Norris Perne & French LLP MI’s holdings in Apple were worth $16,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Avenir Tech Ltd acquired a new position in shares of Apple during the second quarter valued at $29,000. Ironwood Wealth Management Inc. acquired a new stake in Apple in the third quarter worth about $34,000. Longfellow Investment Management Co. LLC bought a new position in Apple in the 2nd quarter valued at about $30,000. ABS Investment Management LLC acquired a new position in Apple during the 2nd quarter valued at about $376,168,000. Finally, Bamco Inc. NY acquired a new position in Apple during the 2nd quarter valued at about $118,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $351.36, for a total transaction of $842,912.64. Following the completion of the sale, the senior vice president directly owned 27,598 shares in the company, valued at approximately $9,696,833.28. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 46,389 shares of Apple stock in a transaction that occurred 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 owned 136,810 shares in the company, valued at approximately $45,615,190.20. This trade 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. Over the last quarter, insiders sold 292,611 shares of company stock valued at $97,482,597. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AAPL. Melius Research set a $370.00 price target on shares of Apple in a research note on Tuesday, November 3rd. UBS Group reiterated a “neutral” rating and set a $340.00 price objective (up from $296.00) on shares of Apple in a research note on Tuesday, November 3rd. Sanford C. Bernstein raised their price objective on shares of Apple from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. JPMorgan Chase & Co. dropped their target price on Apple from $360.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, November 3rd. Finally, Robert W. Baird set a $340.00 target price on Apple and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.11.

Apple Price Performance

Apple stock traded up $1.39 during midday trading on Friday, hitting $356.27. The company’s stock had a trading volume of 39,967,159 shares, compared to its average volume of 48,203,272. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $339.04 and its 200-day moving average price is $301.05. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $360.83. The company has a market capitalization of $5.18 trillion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 3.41 and a beta of 1.07.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.11. Apple had a net margin of 27.60% and a return on equity of 125.35%. The company had revenue of $114.48 billion during the quarter, compared to analyst estimates of $113.40 billion. During the same quarter last year, the firm posted $1.85 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 9.45 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 12th will be paid a dividend of $0.27 per share. 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 is currently 12.04%.

Key Stories Impacting Apple

These are some of the AAPL stories that stood out recently:

• Positive Sentiment: Bernstein cited Apple’s relatively defensive business as a safe haven amid an AI-sector selloff, helping attract investors as Nvidia weakness put pressure on technology stocks. Apple stock gains as Bernstein highlights safe-haven appeal
• Positive Sentiment: Apple’s new $299 HomeView and Apple TV devices, featuring Siri AI, began reaching customers Friday, offering a potential new product and ecosystem catalyst ahead of the holiday season. Apple devices hit shelves
• Positive Sentiment: China Renaissance upgraded Apple to Buy and set a $425 price target, pointing to potential from a future foldable iPhone and interest in the company’s product lineup. Recent quarterly results also beat earnings and revenue estimates, with revenue up year over year. China Renaissance’s view on Apple

Apple Company 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.