Apple (NASDAQ:AAPL) Shares Down 1.1% Following Insider Selling

Apple Inc. (NASDAQ:AAPL)’s share price was down 1.1% on Friday after an insider sold shares in the company. The company traded as low as $330.70 and last traded at $336.64. Approximately 37,764,189 shares changed hands during trading, a decline of 23% from the average daily volume of 48,770,402 shares. The stock had previously closed at $340.42.

Specifically, SVP Jennifer Newstead sold 2,399 shares of the firm’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 transaction, the senior vice president directly owned 39,593 shares in the company, valued at $13,145,271.93. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Ternus sold 25,412 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares in the company, valued at $19,832,236.98. This trade represents a 29.90% 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. In other news, SVP Deirdre O’brien sold 46,389 shares of the company’s stock in a transaction 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 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. 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on AAPL. Phillip Securities increased their price target on Apple from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Daiwa Securities Group upped their target price on Apple from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Barclays reaffirmed an “underweight” rating and set a $245.00 target price (down from $253.00) on shares of Apple in a research note on Friday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Thursday, October 1st. Finally, Maxim Group boosted their price target on Apple from $350.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $340.02.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Smart-home expansion: Apple is expected to introduce new products—including a smart lock, thermostat and doorbell—at its October 13 “Welcome Home” event. The initiative could broaden Apple’s hardware ecosystem and create additional Services opportunities. Apple Welcome Home event
• Positive Sentiment: AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its installed base of more than 2.5 billion active devices. He estimated AI could add approximately $75 per share to Apple’s valuation. Apple consumer AI opportunity
• Positive Sentiment: Management changes: Apple appointed insider Steve Smith as head of mergers and acquisitions, while former M&A chief Adrian Perica moved to the Services division. The changes may signal greater emphasis on acquisitions and Services growth. Apple appoints new M&A chief
• Neutral Sentiment: OLED MacBook opportunity: Reports that Apple may introduce OLED and touchscreen MacBook Pro models could support a future upgrade cycle, although the products are not expected to affect near-term results. Apple OLED MacBook Pro report
• Negative Sentiment: iPhone demand concern: The reported component-order reductions raise concerns about premium smartphone demand, revenue growth and supplier expectations for Apple’s latest flagship models. Apple cuts iPhone 18 Pro orders
• Negative Sentiment: Valuation risk: Apple’s premium earnings multiple leaves less room for disappointment, while analysts have cited softer iPhone pricing, rising component costs and possible competitive pressure to its Services ecosystem.

Apple Stock Down 1.1%

The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $322.06 and its 200-day moving average price is $302.76. The company has a market cap of $4.91 trillion, a P/E ratio of 38.61, a PEG ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the company posted $1.57 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. As a group, research analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s payout ratio is currently 12.39%.

Hedge Funds Weigh In On Apple

Institutional investors have recently modified their holdings of the company. Wedmont Private Capital lifted its holdings in shares of Apple by 13.6% in the 3rd quarter. Wedmont Private Capital now owns 342,827 shares of the iPhone maker’s stock worth $116,491,000 after purchasing an additional 40,950 shares in the last quarter. Dale Q Rice Investment Management Ltd increased its stake in Apple by 0.6% during the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 103,420 shares of the iPhone maker’s stock valued at $34,394,000 after purchasing an additional 580 shares in the last quarter. Athena Wealth Management LLC increased its stake in Apple by 8.1% during the 3rd quarter. Athena Wealth Management LLC now owns 21,477 shares of the iPhone maker’s stock valued at $7,152,000 after purchasing an additional 1,610 shares in the last quarter. Journey Retirement Planning & Investment Management LLC increased its stake in Apple by 31.5% during the 3rd quarter. Journey Retirement Planning & Investment Management LLC now owns 8,921 shares of the iPhone maker’s stock valued at $2,971,000 after purchasing an additional 2,139 shares in the last quarter. Finally, Gouws Capital LLC raised its holdings in Apple by 136.9% during the third quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker’s stock worth $12,490,000 after buying an additional 21,676 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

About Apple

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.