Apple Inc. $AAPL Stake Trimmed by Hoese & Co LLP

Hoese & Co LLP decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 50.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,256 shares of the iPhone maker’s stock after selling 2,300 shares during the quarter. Apple accounts for about 0.5% of Hoese & Co LLP’s portfolio, making the stock its 22nd largest holding. Hoese & Co LLP’s holdings in Apple were worth $751,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Avenir Tech Ltd bought a new stake in shares of Apple in the second quarter valued at approximately $29,000. Longfellow Investment Management Co. LLC acquired a new stake in Apple during the second quarter worth approximately $30,000. Ironwood Wealth Management Inc. bought a new position in Apple during the 3rd quarter worth $34,000. Ascentis Wealth Management LLC increased its stake in Apple by 822.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock worth $85,000 after acquiring an additional 260,792 shares during the period. Finally, Bamco Inc. NY acquired a new position in Apple in the 2nd quarter valued at $118,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $342.37 on Monday. 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 company has a market cap of $4.98 trillion, a price-to-earnings ratio of 38.17, a PEG ratio of 3.22 and a beta of 1.07. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $355.38. The stock has a 50-day moving average price of $336.01 and a two-hundred day moving average price of $298.50.

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

Apple Announces Dividend

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

Insider Activity at Apple

In related news, CEO John Ternus sold 25,412 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total value of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares of the company’s stock, valued at $19,832,236.98. This represents a 29.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the sale, the senior vice president owned 41,992 shares in the company, valued at $14,116,870.56. This represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 291,651 shares of company stock valued at $97,082,537 in the last quarter. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAPL. Morgan Stanley set a $350.00 target price on Apple and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Bank of America restated a “buy” rating and issued a $370.00 price target on shares of Apple in a research report on Wednesday, September 23rd. KeyCorp reaffirmed an “underweight” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, November 3rd. DZ Bank cut shares of Apple from a “hold” rating to a “sell” rating and set a $300.00 price objective for the company. in a research report on Wednesday, November 4th. Finally, Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $370.00 to $330.00 in a research note on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $343.74.

Apple News Roundup

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 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.