Janney Montgomery Scott LLC Has $1.10 Billion Position in Apple Inc. (NASDAQ:AAPL)

January 7, 2025

Janney Montgomery Scott LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,704,442 shares of the iPhone maker’s stock after selling 62,836 shares during the quarter. Apple comprises approximately 3.1% of Janney Montgomery Scott LLC’s portfolio, making the stock its biggest holding. Janney Montgomery Scott LLC’s holdings in Apple were worth $1,096,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Bull Oak Capital LLC increased its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. Cordant Inc. raised its stake in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the last quarter. Finally, EMC Capital Management boosted its position in shares of Apple by 7.3% in the 3rd quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Barclays reduced their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $238.03.

Read Our Latest Analysis on Apple

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.7 %

NASDAQ AAPL traded up $1.64 during trading hours on Monday, hitting $245.00. The company had a trading volume of 44,994,215 shares, compared to its average volume of 46,990,543. The firm’s 50 day moving average is $239.15 and its 200 day moving average is $229.33. The company has a market capitalization of $3.70 trillion, a price-to-earnings ratio of 40.30, a P/E/G ratio of 2.41 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. Apple’s dividend payout ratio is currently 16.45%.

Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.