Apple Inc. $AAPL Stock: Obermeyer Wealth Partners Trims Stake

Obermeyer Wealth Partners lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 315,242 shares of the iPhone maker’s stock after selling 3,983 shares during the period. Apple accounts for 4.2% of Obermeyer Wealth Partners’ holdings, making the stock its 4th biggest position. Obermeyer Wealth Partners’ holdings in Apple were worth $104,982,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cardinal Capital Management lifted its holdings in Apple by 0.4% during the 3rd quarter. Cardinal Capital Management now owns 86,800 shares of the iPhone maker’s stock valued at $28,906,000 after purchasing an additional 366 shares during the last quarter. Oakmont Investment Advisors Inc. increased its holdings in shares of Apple by 1.2% in the third 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. Foster Victor Wealth Advisors LLC raised its position in shares of Apple by 6.8% in the third quarter. Foster Victor Wealth Advisors LLC now owns 119,507 shares of the iPhone maker’s stock valued at $40,984,000 after purchasing an additional 7,622 shares during the period. Vest Financial LLC raised its position in shares of Apple by 2.5% in the third quarter. Vest Financial LLC now owns 413,306 shares of the iPhone maker’s stock valued at $137,639,000 after purchasing an additional 10,147 shares during the period. Finally, EnRich Financial Partners LLC lifted its stake in shares of Apple by 3.4% during the 3rd quarter. EnRich Financial Partners LLC now owns 6,613 shares of the iPhone maker’s stock worth $2,202,000 after buying an additional 219 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Trending Headlines about 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

Wall Street Analyst Weigh In

Several brokerages recently commented on AAPL. Melius Research set a $370.00 target price on shares of Apple in a report on Tuesday, November 3rd. KeyCorp reiterated an “underweight” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, November 3rd. Evercore reissued an “outperform” rating on shares of Apple in a report on Tuesday, October 27th. Citic Securities raised their price objective on shares of Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. Finally, Rothschild & Co Redburn set a $400.00 price objective on Apple and gave the stock a “buy” rating in a report on Monday, August 17th. Two equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $343.74.

Apple Trading Up 2.4%

AAPL stock opened at $350.69 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.93 and a current ratio of 1.02. The company’s 50-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 market capitalization of $5.10 trillion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.07.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 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 business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.85 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 9.68 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 12th will be issued 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 dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 12.04%.

Insider Buying and Selling at Apple

In related news, CEO John Ternus sold 25,412 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the sale, the chief executive officer directly owned 59,567 shares in the company, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy D. Cook sold 191,753 shares of the 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 sale, the insider directly owned 3,264,168 shares in the company, valued at $1,086,837,377.28. This represents 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 sold a total of 290,212 shares of company stock valued at $96,639,685 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.