Wagner Wealth Management Corp Sells 2,110 Shares of Apple Inc. $AAPL

Wagner Wealth Management Corp lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 29.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,940 shares of the iPhone maker’s stock after selling 2,110 shares during the period. Wagner Wealth Management Corp’s holdings in Apple were worth $1,645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its holdings in Apple by 4.7% during 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 bought a new stake in Apple during the 2nd quarter valued at $65,950,297,000. Bank of America Corp DE purchased a new position in shares of Apple in the 2nd quarter valued at $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple in the 2nd quarter valued at $30,443,242,000. Finally, Amundi raised its position in shares of Apple by 23.2% in the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker’s stock worth $18,547,637,000 after acquiring an additional 13,780,080 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Down 0.5%

Shares of Apple stock traded down $1.80 during trading on Friday, reaching $342.37. The company’s stock had a trading volume of 44,660,992 shares, compared to its average volume of 41,928,536. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $355.38. The company has a 50-day simple moving average of $336.01 and a two-hundred day simple moving average of $298.50. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market cap of $5.00 trillion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 2.82 and a beta of 1.07.

Apple (NASDAQ:AAPL) last announced its earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.11. Apple had a return on equity of 128.88% and a net margin of 27.60%. The company had revenue of $114.48 billion for the quarter, compared to analyst estimates of $113.40 billion. During the same period in the prior year, the company posted $1.85 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 9.70 earnings per share 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 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 payout ratio is presently 12.04%.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 46,389 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president directly owned 136,810 shares of the company’s stock, valued at $45,615,190.20. This trade represents a 25.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Apple stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $325.75, for a total transaction of $781,474.25. Following the completion of the sale, the senior vice president owned 29,997 shares of the company’s stock, valued at $9,771,522.75. This trade represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 291,651 shares of company stock valued at $97,082,537. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of analyst reports. Moffett Nathanson set a $283.00 price objective on Apple and gave the stock a “neutral” rating in a research note on Tuesday, October 20th. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and cut their target price for the company from $370.00 to $330.00 in a research note on Tuesday, October 20th. Melius Research set a $370.00 target price on shares of Apple in a report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Apple in a research report on Thursday, September 10th. Finally, UBS Group restated a “neutral” rating and issued a $340.00 price target (up from $296.00) on shares of Apple in a report on Tuesday. Two equities research 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $343.74.

More Apple News

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 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.