Forbes J M & Co. LLP has increased its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% during the third quarter, according to its latest SEC filing. The firm now holds 252,177 shares of the iPhone maker, valued at $83,823,000. Apple represents 6.0% of Forbes J M & Co. LLP's portfolio, making it the third-largest holding. Other institutional investors have also adjusted their positions, with CWS Financial Advisors LLC boosting its stake by 377.4% to 304,867 shares worth $101,527,000.
Meanwhile, Apple insiders have been selling shares. CEO John Ternus sold 25,412 shares on October 2nd at an average price of $332.94, totaling $8,460,671.28. SVP Jennifer Newstead sold 2,399 shares on September 29th at $336.18 each, amounting to $806,495.82. In total, insiders sold 289,252 shares valued at $96,301,063 during the last quarter.
Analysts have mixed views on Apple. JPMorgan Chase & Co. raised its price target to $360.00 with an "overweight" rating, while Deutsche Bank Aktiengesellschaft downgraded the stock to "hold". The average target price stands at $340.49, with a "Moderate Buy" consensus rating. Apple's stock opened at $344.63 on Friday, with a market capitalization of $5.03 trillion and a P/E ratio of 39.52.
Positive sentiment surrounds Apple's recent acquisitions and product launches, including the purchase of Ascend.io for AI capabilities and the introduction of the foldable iPhone Duo. However, concerns persist over rising flash-memory prices and potential margin pressure. The company's earnings report, due on November 2nd, will be closely watched for signs of revenue growth and AI investment impacts.