Apple Inc. $AAPL Stake Cut by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 3.7% in the third quarter, HoldingsChannel.com reports. The firm owned 932,334 shares of the iPhone maker’s stock after selling 35,974 shares during the period. Apple accounts for approximately 7.7% of Wedbush Securities Inc.’s investment portfolio, making the stock its 2nd biggest holding. Wedbush Securities Inc.’s holdings in Apple were worth $310,486,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Prospect Hill Management LLC bought a new position in shares of Apple during the second quarter valued at approximately $146,370,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $168,646,000. Wealthfront Advisers LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $482,388,000. Satovsky Asset Management LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $16,064,000. Finally, Gouws Capital LLC boosted its position in Apple by 136.9% during the 3rd quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker’s stock valued at $12,490,000 after purchasing an additional 21,676 shares during the period. Institutional investors own 67.73% of the company’s stock.

Trending Headlines about Apple

Here are a few of the latest headlines about AAPL:

• Positive Sentiment: Apple recently reached a record high, with one analyst describing the stock as a “safe haven” amid market turmoil. CIBC also included AAPL among its post-election stock picks. Apple Stock Called ‘Safe Haven,’ Hits Record High
• Positive Sentiment: China Renaissance upgraded Apple to Buy from Hold and set a $425 price target, citing potential from the first foldable iPhone. Coverage also points to strong interest in the new iPhone lineup as a possible catalyst for continued growth. Apple stock gains as analyst sets a $425 target
• Negative Sentiment: Some analysts and investors view AAPL as expensive after its strong run, while recent coverage shows disagreement on the outlook, including a DZ Bank downgrade to Sell. Rich valuation leaves less room for disappointment. Apple Shares Look Expensive Heading into 2027

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AAPL shares. Rosenblatt Securities restated a “neutral” rating and set a $303.00 price objective on shares of Apple in a research note on Tuesday, November 3rd. Seaport Research Partners lowered Apple from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. The Goldman Sachs Group set a $380.00 target price on Apple in a research note on Wednesday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Apple from $360.00 to $355.00 and set an “overweight” rating for the company in a report on Tuesday, November 3rd. Finally, UBS Group restated a “neutral” rating and set a $340.00 price target (up from $296.00) on shares of Apple in a research report on Tuesday, November 3rd. Two 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $347.11.

Insiders Place Their Bets

In related news, insider Timothy D. Cook sold 191,753 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $332.96, for a total value of $63,846,078.88. Following the completion of the sale, the insider owned 3,264,168 shares of the company’s stock, valued at $1,086,837,377.28. This represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, SVP Jennifer Newstead sold 2,399 shares of the company’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $332.01, for a total transaction of $796,491.99. Following the completion of the sale, the senior vice president directly owned 39,593 shares of the company’s stock, valued at $13,145,271.93. The trade was a 5.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 292,611 shares of company stock worth $97,482,597. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $354.88 on Friday. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $359.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.94. The firm has a market capitalization of $5.16 trillion, a price-to-earnings ratio of 39.56, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The business has a 50 day simple moving average of $338.48 and a 200 day simple moving average of $300.56.

Apple (NASDAQ:AAPL) last announced its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.11. The firm had revenue of $114.48 billion for the quarter, compared to the consensus estimate of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. On average, equities research analysts anticipate that Apple Inc. will post 9.45 EPS for the current year.

Apple Announces Dividend

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 paid a $0.27 dividend. 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 is presently 12.04%.

Apple Company 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.