Apple Inc. $AAPL Position Lowered by Obermeyer Wealth Partners

Obermeyer Wealth Partners lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 315,242 shares of the iPhone maker’s stock after selling 3,983 shares during the period. Apple comprises approximately 4.2% of Obermeyer Wealth Partners’ portfolio, making the stock its 4th biggest holding. Obermeyer Wealth Partners’ holdings in Apple were worth $104,982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avenir Tech Ltd bought a new stake in Apple during the second quarter worth $29,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Apple in the 2nd quarter valued at $30,000. Ironwood Wealth Management Inc. bought a new position in shares of Apple in the 3rd quarter valued at $34,000. Ascentis Wealth Management LLC increased its stake in shares of Apple by 822.7% in the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock valued at $85,000 after purchasing an additional 260,792 shares during the last quarter. Finally, Bamco Inc. NY bought a new position in shares of Apple in the 2nd quarter valued at $118,000. Institutional investors own 67.73% of the company’s stock.

More Apple News

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AAPL shares. Loop Capital downgraded Apple from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $370.00 to $330.00 in a research report on Tuesday, October 20th. DA Davidson raised their price objective on Apple from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. CICC Research lifted their target price on Apple from $310.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Barclays boosted their target price on Apple from $245.00 to $261.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 3rd. Finally, UBS Group reissued a “neutral” rating and set a $340.00 target price (up from $296.00) on shares of Apple in a research note on Tuesday, November 3rd. Two research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $343.74.

Insider Buying and Selling at Apple

In other Apple news, CEO John Ternus sold 25,412 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 59,567 shares in the company, valued at approximately $19,832,236.98. This trade represents a 29.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O’brien sold 46,389 shares of Apple stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. The trade was a 25.32% decrease in their ownership of the stock. 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. Insiders have sold a total of 290,212 shares of company stock worth $96,639,685 over the last three months. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

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

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $113.40 billion. During the same period in the prior year, the business earned $1.85 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Apple Inc. will post 9.68 EPS for the current fiscal year.

Apple Dividend Announcement

The company 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. The ex-dividend date is Thursday, November 12th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is currently 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.