Maryland Capital Advisors Inc. Reduces Stake in Apple Inc.

Maryland Capital Advisors Inc. has reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 3.6% during the third quarter, as noted in the company’s latest Form 13F filing with the SEC. After selling 4,500 shares during this period, the institutional investor now owns 120,600 shares of Apple’s stock. Apple represents about 13.6% of Maryland Capital Advisors Inc.’s investment portfolio, making it the company’s second largest holding. The value of Maryland Capital Advisors Inc.’s investment in Apple is approximately $28.1 million based on the most recent SEC filing.

Other institutional investors have also adjusted their positions in Apple shares recently. For instance, Narwhal Capital Management increased its holdings by 2.5% during the third quarter, owning 276,791 shares valued at $64.49 million after acquiring an additional 6,711 shares. Similarly, Blossom Wealth Management raised its stake in Apple by 3.7%, resulting in ownership of 12,243 shares worth around $2.85 million after purchasing another 437 shares. Private Advisor Group LLC boosted its position by 1.3%, owning 2,279,719 shares valued at approximately $531.17 million after adding 28,488 shares in the last quarter. Additionally, Lanham O Dell & Company Inc. lifted its stake by 8.4%, now holding 4,821 shares valued at roughly $1.12 million after acquiring 375 more shares. Lastly, ODonnell Financial Services LLC increased its ownership by 4.0%, now owning 35,003 shares worth $8.16 million after acquiring an extra 1,359 shares. Overall, institutional investors and hedge funds hold about 67.73% of Apple’s stock.

Analyst Opinions

Recent reports from various analysts have influenced perspectives on Apple shares. Rosenblatt Securities raised their price target from $261.00 to $262.00 and maintained a “buy” rating on the company as of November 1. Morgan Stanley retained an “overweight” rating, setting a price target of $273.00 in a report from December 13. Analysts at Oppenheimer reiterated a “buy” rating with a price target of $250.00, and Wedbush also maintained an “outperform” rating with a sizable price target of $300.00. Meanwhile, JPMorgan Chase & Co. upheld an “overweight” rating with a target price of $265.00. The stock has received two sell ratings, twelve hold ratings, twenty-three buy ratings, and one strong buy rating. As per MarketBeat.com data, the consensus rating for Apple is "Moderate Buy" with a price target averaging $236.78.

Insider Transactions

In other developments, insider Chris Kondo recently sold 4,130 shares at an average price of $228.87, completing a transaction worth approximately $945,233. Following this sale, Kondo now holds 15,419 shares with a value of about $3.53 million, reflecting a 21.13% decrease in individual holding. Additionally, COO Jeffrey E. Williams sold 100,000 shares for approximately $24.99 million at an average price of $249.97. After this transaction, he retains 389,944 shares valued at about $97.47 million, representing a 20.41% decrease in his ownership. Over the past three months, insiders have sold 508,170 shares totaling around $117 million, with only 0.06% of company stock held by corporate insiders.

Apple Stock Performance

As of the latest trading session, shares of Apple opened at $249.79. The company has a quick ratio of 0.83, a current ratio of 0.87, and a debt-to-equity ratio of 1.51. With a market capitalization of $3.78 trillion, Apple’s price-to-earnings ratio is reported at 41.08 and its price-to-earnings-growth ratio at 2.41. The stock has experienced a twelve-month low of $164.07 and a high of $254.28. Current moving averages show a 50-day simple moving average of $234.43 and a 200-day average of $225.06.

Apple last reported its quarterly earnings on October 31. The company recorded earnings of $1.64 per share, surpassing analysts’ consensus estimate of $1.60 by $0.04. It achieved revenue of $94.93 billion, exceeding expectations of $94.52 billion, and posted a net margin of 23.97% with a return on equity of 152.94%. This revenue reflects an increase of 6.1% year-over-year compared to the same quarter last year, where earnings per share were $1.46. Projections indicate that Apple Inc. will see earnings of 7.43 per share for the current fiscal year.

Apple Dividend Update

Recently, the company declared a quarterly dividend which was paid on November 14. Stockholders as of November 11 received a dividend of $0.25 per share, making the annualized dividend amount $1.00 and indicating a dividend yield of 0.40%. Apple's payout ratio stands at 16.45%.

Company Overview

Apple Inc. designs, manufactures, and markets various technologies including smartphones, personal computers, tablets, wearables, and accessories globally. Notable products include the iPhone, Mac computers, iPad tablets, and accessories such as AirPods, Apple TV, and the Apple Watch.

Maryland, Apple, Investments