Apple Inc. $AAPL Shares Sold by Seamount Financial Group Inc.

Seamount Financial Group Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,525 shares of the iPhone maker’s stock after selling 2,678 shares during the quarter. Apple accounts for about 6.8% of Seamount Financial Group Inc.’s investment portfolio, making the stock its largest holding. Seamount Financial Group Inc.’s holdings in Apple were worth $17,492,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc acquired a new stake in Apple during the 2nd quarter valued at $65,950,297,000. Bank of America Corp DE acquired a new position in Apple in the 2nd quarter worth $36,986,090,000. Legal & General Group Plc acquired a new position in Apple in the 2nd quarter worth $30,443,242,000. Deutsche Bank AG acquired a new position in Apple in the 2nd quarter worth $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Apple in the 2nd quarter valued at about $10,588,946,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Apple from $360.00 to $355.00 and set an “overweight” rating for the company in a research note on Tuesday, November 3rd. Moffett Nathanson set a $283.00 target price on Apple and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. UBS Group reiterated a “neutral” rating and issued a $340.00 price target (up from $296.00) on shares of Apple in a research note on Tuesday, November 3rd. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating in a report on Friday. Finally, Royal Bank Of Canada set a $365.00 price objective on Apple in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $343.74.

Insider Transactions at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $332.01, for a total value of $796,491.99. Following the completion of the sale, the senior vice president directly owned 39,593 shares of the company’s stock, valued at $13,145,271.93. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy Cook sold 191,753 shares of Apple stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the transaction, the insider owned 3,264,168 shares of the company’s stock, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 290,212 shares of company stock valued at $96,639,685 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Key Headlines Impacting Apple

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 Trading Up 2.4%

NASDAQ AAPL opened at $350.69 on Tuesday. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.93. The company has a market capitalization of $5.10 trillion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07. The company’s fifty day moving average price is $336.63 and its two-hundred day moving average price is $299.02.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 12th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple’s dividend payout ratio (DPR) is 12.04%.

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.