Apple Inc. $AAPL Holdings Cut by Massachusetts Wealth Management

Massachusetts Wealth Management cut its position in Apple Inc. (NASDAQ:AAPL) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,896 shares of the iPhone maker’s stock after selling 1,527 shares during the quarter. Apple comprises 2.5% of Massachusetts Wealth Management’s investment portfolio, making the stock its 6th biggest position. Massachusetts Wealth Management’s holdings in Apple were worth $6,626,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Berkshire Hathaway Inc purchased a new stake in shares of Apple in the second quarter worth $65,950,297,000. Bank of America Corp DE purchased a new position in Apple during the second quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new position in Apple during the second quarter worth about $30,443,242,000. Deutsche Bank AG purchased a new position in Apple during the second quarter worth about $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Apple in the 2nd quarter worth about $10,588,946,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Maxim Group raised their price target on Apple from $350.00 to $380.00 and gave the company a “buy” rating in a report on Friday, July 31st. Citic Securities lifted their price target on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. JPMorgan Chase & Co. cut their price objective on Apple from $360.00 to $355.00 and set an “overweight” rating for the company in a report on Tuesday, November 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $303.00 price objective on shares of Apple in a research report on Tuesday, November 3rd. Finally, The Goldman Sachs Group set a $380.00 target price on shares of Apple in a research note on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $343.74.

Apple Stock Up 2.4%

Shares of NASDAQ:AAPL opened at $350.69 on Tuesday. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $355.38. The firm has a fifty day moving average of $336.63 and a 200 day moving average of $299.02. The firm 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. 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 released its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.11. Apple had a return on equity of 125.35% and a net margin of 27.60%. The business had revenue of $114.48 billion for the quarter, compared to the consensus estimate of $113.40 billion. During the same quarter last year, the business posted $1.85 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts anticipate 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. Stockholders 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 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio is 12.04%.

Insider Transactions at Apple

In related news, SVP Jennifer Newstead sold 2,399 shares of the business’s stock in a transaction that occurred on 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 owned 39,593 shares in the company, valued at $13,145,271.93. The trade was a 5.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 46,389 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the completion of the sale, the senior vice president directly owned 136,810 shares of the company’s stock, valued at approximately $45,615,190.20. This represents a 25.32% decrease in their position. 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 valued at $96,639,685 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Key Stories 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

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.