34,763 Apple Inc. $AAPL Shares Acquired by Norris Perne & French LLP MI

Norris Perne & French LLP MI increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 255.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,368 shares of the iPhone maker’s stock after acquiring an additional 34,763 shares during the quarter. Norris Perne & French LLP MI’s holdings in Apple were worth $16,107,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its position in shares of Apple by 4.7% in the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker’s stock worth $182,897,769,000 after buying an additional 28,321,085 shares during the period. Berkshire Hathaway Inc purchased a new position in shares of Apple during the second quarter valued at $65,950,297,000. Bank of America Corp DE acquired a new position in Apple during the second quarter valued at $36,986,090,000. Legal & General Group Plc acquired a new position in Apple during the second quarter valued at $30,443,242,000. Finally, Amundi raised its position in Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker’s stock valued at $18,547,637,000 after buying an additional 13,780,080 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple News Summary

Here’s some of the latest news about AAPL:

• 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: 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
• Negative Sentiment: Valuation remains a key risk: analysts have warned Apple trades at a premium, and views are divided, including a DZ Bank downgrade to Sell. A senior vice president also continued a pattern of scheduled share sales, a modest potential overhang. Apple valuation analysis

Apple Stock Up 0.4%

AAPL stock traded up $1.39 during mid-day trading on Friday, hitting $356.27. The stock had a trading volume of 39,967,159 shares, compared to its average volume of 48,203,272. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $360.83. The company has a fifty day moving average of $339.04 and a 200 day moving average of $301.05. The stock has a market capitalization of $5.18 trillion, a price-to-earnings ratio of 39.72, a PEG ratio of 3.41 and a beta of 1.07.

Apple (NASDAQ:AAPL) last posted its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. The firm 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 company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.85 earnings per share. On average, equities analysts expect that Apple Inc. will post 9.45 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared 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 is Thursday, November 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 12.04%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 46,389 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the transaction, the senior vice president directly owned 136,810 shares of the company’s stock, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Ternus sold 25,412 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer 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. 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 292,611 shares of company stock worth $97,482,597 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Daiwa Securities Group raised their price objective on Apple from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. DZ Bank downgraded Apple from a “hold” rating to a “sell” rating and set a $300.00 target price on the stock. in a report on Wednesday, November 4th. Wells Fargo & Company reissued an “overweight” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday, July 31st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and decreased their price target for the stock from $370.00 to $330.00 in a report on Tuesday, October 20th. Finally, Seaport Research Partners downgraded shares of Apple from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $347.11.

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.