Meyer Handelman Co. Sells 39,700 Shares of Apple Inc. $AAPL

Meyer Handelman Co. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 542,076 shares of the iPhone maker’s stock after selling 39,700 shares during the quarter. Apple makes up approximately 4.4% of Meyer Handelman Co.’s holdings, making the stock its 2nd biggest holding. Meyer Handelman Co.’s holdings in Apple were worth $138,029,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Financial Futures Ltd Liability Co. raised its position in shares of Apple by 13.2% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock valued at $729,000 after acquiring an additional 415 shares during the period. Monarch Capital Management Inc. grew its holdings in Apple by 4.6% during the second quarter. Monarch Capital Management Inc. now owns 66,967 shares of the iPhone maker’s stock valued at $13,740,000 after purchasing an additional 2,920 shares during the period. American National Bank & Trust increased its stake in Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares in the last quarter. Riverwater Partners LLC raised its holdings in Apple by 17.9% in the second quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock worth $1,109,000 after purchasing an additional 819 shares during the period. Finally, Andina Capital Management LLC boosted its position in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 3,752 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. The trade was a 19.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAPL. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Bank of America boosted their target price on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wells Fargo & Company set a $300.00 price target on Apple and gave the stock an “overweight” rating in a research report on Friday, October 31st. Tigress Financial boosted their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Sanford C. Bernstein set a $325.00 target price on shares of Apple in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $283.92.

Apple Trading Down 0.8%

NASDAQ AAPL opened at $260.35 on Thursday. The stock has a market capitalization of $3.85 trillion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.45 and a beta of 1.09. The stock’s 50 day moving average price is $273.30 and its two-hundred day moving average price is $246.00. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period last year, the business earned $1.64 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is presently 13.92%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan set to take over the Apple Card program, ending a drawn-out, costly partnership with Goldman Sachs and removing a persistent operational/regulatory headache for Apple; transition expected to take ~24 months. This reduces execution risk around Apple’s consumer-finance offering. JPMorgan reaches deal to take over Apple credit card, WSJ reports
• Positive Sentiment: Evercore names Apple a top tech pick ahead of a key iPhone upgrade cycle, signaling analyst conviction about near-term iPhone sales and upside to hardware/services revenue. AAPL: Evercore Calls Apple Top Tech Pick Ahead of Key iPhone Cycle
• Positive Sentiment: Foxconn’s strong Q4 revenue (AI/server and device demand) is read as a bullish signal for iPhone demand, providing a supplier-confirmation boost to Apple’s hardware outlook. Gene Munster Flags Positive Signal For Nvidia And Apple As Foxconn Smashes Q4 Revenue Estimates
• Neutral Sentiment: Investor calendar item: Apple has product/feature rollouts due Jan. 12 — a potential catalyst if new features meaningfully boost services engagement, but not yet a revenue-confirming event. Dear Apple Stock Fans, Mark Your Calendars for January 12
• Negative Sentiment: Alphabet surpassed Apple in market capitalization, a headline that can pressure sentiment toward Apple by shifting index/flows and signaling competitive momentum for AI leaders outside Apple. Alphabet Surpasses Apple in Market Cap for First Time Since 2019
• Negative Sentiment: Soaring memory prices pose margin pressure for hardware makers including Apple; higher component costs could compress gross margins if not passed to customers. Apple and Dell Face Soaring Memory Prices. How the Stocks Can Handle the Threat.
• Negative Sentiment: App Store net revenue growth decelerated in December, a flag for services growth momentum that investors watch closely given services’ role in valuation. Apple App Store Net Revenue Growth Decelerates In December

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.