Lanark Financial 13F: Cuts Apple (AAPL) Stake by $3.2M
Key Points
- Lanark Financial's stake in Apple Inc. now stands at 127,575 shares, valued at approximately $42.5 million after the reduction.
- The fund's reported value for its entire portfolio is about $273.3 million, with Apple representing 15.55% of that total.
- Apple shares recently traded around $344, about equal to the closing price of $343.91 on October 26, 2026.
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On October 26, 2026, Lanark Financial trimmed its position in Apple Inc. by 9,554 shares, leaving it with a total of 127,575 shares.
AAPL
Apple Inc.
Where Apple Fits in Lanark Financial's Portfolio
Apple now makes up about 15.55% of Lanark Financial's total reported value of $273.3 million. This reduction represents a 6.97% decrease in their holdings, but Apple remains the top position in the fund's portfolio.
Other Institutional Activity in Apple Inc.
Several other funds also adjusted their positions in Apple recently. Tokio Marine Asset Management grew its holdings by 13,001 shares, totaling 696,192 shares worth about $231.8 million. In contrast, Alta Capital Management decreased its stake by 24,476 shares, ending with 77,134 shares valued at approximately $25.7 million. UniSuper Management increased its position by 498,764 shares, bringing its total to 4,832,331 shares.
Apple Inc. Stock Down 1.1%
Apple shares traded recently around $344, which is about equal to the closing price of $343.91 on October 26. This price is above the 50-day moving average by 4.2% and the 200-day moving average by 16.7%. However, the stock is still about 2.2% below its 52-week high of $351.73.
Recent Earnings
Apple reported trailing twelve-month revenue of approximately $466.8 billion, with an earnings per share (EPS) of $8.72. The company has a net margin of 27.6% and a return on equity (ROE) of 148.8%. Its next earnings report is scheduled for November 2, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
10 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 1.1%. Revenue missed estimates by 0.6%.
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Profit surprise
EBITDA beat by 2 percent. Operating income beat by 3 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
10 target raises.
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Earnings quality
Gross margin up 2.2 points. Operating margin up 1.2 points. Positive free cash flow.
Earnings Call Summary
Apple delivered its best-ever quarter with 143.8 billion dollars in revenue, up 16 percent. iPhone surged 23 percent to 85.3 billion dollars driven by strong customer demand for the iPhone 17 lineup and record upgraders in China and India. Services hit an all-time record of 30 billion dollars, up 14 percent, while the installed base reached 2.5 billion active devices. Management highlighted Apple Intelligence features resonating with users and expanded retail presence in India as growth drivers.
Guidance Apple expects March quarter revenue to grow 13 percent to 16 percent year over year, with services growing at a similar rate to December. Gross margin should land between 48 percent to 49 percent. The company faces iPhone supply constraints from advanced chip demand but remains confident in the business outlook.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Apple pays an annual dividend rate of $1.08 per share, which gives it a yield of 0.31%. The dividend payout ratio stands at 12.0%.
Insider Buying and Selling at Apple Inc.
Several insiders sold shares recently. On October 6, 2026, General Counsel Jennifer Newstead sold 2,399 shares at an average price of $332.01, totaling about $796,492. CFO Kevan Parekh and Officer Ben Borders also sold shares on October 16, 2026, with values of $480,315 and $442,108 respectively. Newstead sold an additional 2,399 shares on October 20 at $339.62, valued at approximately $814,748.
Analysts Set New Price Targets
On October 1, 2026, Morgan Stanley maintained an Overweight rating with a price target of $355, while JP Morgan also kept an Overweight rating with a target of $360 on October 12. Loop Capital downgraded its rating to Hold with a target of $330 on October 20, while MoffettNathanson maintained a Neutral rating with a target of $283.
About Apple Inc.
Apple Inc. designs, manufactures, and sells a wide range of consumer electronics, including smartphones, personal computers, tablets, and accessories. The company is known for its innovative products like the iPhone and Mac computers, which contribute significantly to its strong revenue growth.
Bottom Line
Lanark Financial's recent trimming of its Apple stake raises questions about its confidence in the tech giant. Investors should keep an eye on Apple's upcoming earnings report on November 2, 2026, for further insights into its performance.
Related Filing Alerts
Source: Lanark Financial's 13F filing on $AAPL (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts