1,099,172 Shares of Apple Inc. $AAPL Purchased by Glenview Trust Co

Key Points

• Glenview Trust Co. acquired 1,099,172 Apple shares worth approximately $318.1 million in the second quarter, making Apple its fourth-largest holding and about 3% of its portfolio. Institutional investors collectively own 67.73% of Apple.
• Apple’s latest quarterly results exceeded expectations, with earnings per share of $2.02 versus the $1.89 consensus and revenue of $109.42 billion. Revenue increased 16.4% year over year, while the company declared a quarterly dividend of $0.27 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $340.14 price target, though Apple faces concerns including AI competition, potential margin pressure from higher memory costs, legal liabilities and recent insider selling.

Glenview Trust Co purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,099,172 shares of the iPhone maker's stock, valued at approximately $318,056,000. Apple comprises about 3.0% of Glenview Trust Co's portfolio, making the stock its 4th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avenir Tech Ltd acquired a new position in shares of Apple during the second quarter worth $29,000. Longfellow Investment Management Co. LLC acquired a new stake in Apple in the second quarter valued at $30,000. Lifetime Wealth Management P.C. acquired a new stake in Apple in the fourth quarter valued at $41,000. Ascentis Wealth Management LLC lifted its holdings in Apple by 822.7% during the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker's stock worth $85,000 after buying an additional 260,792 shares during the last quarter. Finally, Basso Capital Management L.P. purchased a new stake in Apple during the 4th quarter worth about $88,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 2.7%

NASDAQ:AAPL opened at $329.40 on Wednesday. The stock's 50 day moving average price is $321.83 and its 200 day moving average price is $298.67. The company has a market capitalization of $4.81 trillion, a PE ratio of 37.78, a P/E/G ratio of 2.94 and a beta of 1.08. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52-week low of $243.42 and a 52-week high of $345.34.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 earnings per share. On average, research analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio is 12.39%.

Insiders Place Their Bets

In other Apple news, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $340.06, for a total transaction of $815,803.94. Following the transaction, the senior vice president directly owned 44,391 shares of the company's stock, valued at approximately $15,095,603.46. This trade represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 11,031 shares of company stock worth $3,535,759. 0.06% of the stock is owned by corporate insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: CEO John Ternus is reportedly considering a leaner, engineering-led structure that could eliminate layers of middle management, accelerate product launches and make Apple more experimental. Investors may view the changes as a response to concerns about slower innovation, particularly in artificial intelligence. Apple CEO overhaul report
• Positive Sentiment: Apple Pay is reportedly launching in a key market, potentially expanding transaction volume and services revenue. Separately, Apple remains a major customer for TSMC’s advanced 2-nanometer chips, supporting future device performance and product differentiation. Apple Pay launch report
• Neutral Sentiment: Apple’s large buyback program remains a relative strength among the Magnificent Seven, although the immediate effect is financial support rather than a new growth catalyst. Apple and Nvidia buybacks
• Negative Sentiment: Bank of America warned that Meta’s Muse could change how consumers search, shop and initiate payments. Even if users continue buying iPhones, AI agents could divert discovery and referral activity away from Apple’s ecosystem, putting pressure on services growth and Apple’s AI strategy. Apple faces threat from Meta Muse
• Negative Sentiment: Reports that Ternus may plan layoffs as memory-chip costs rise raise concerns about gross-margin pressure and slower near-term earnings growth. Apple has already indicated that higher memory expenses could reduce profit per device.
• Negative Sentiment: Apple also faces legal and operational overhangs, including a $5.7 billion patent verdict, a revived UK consumer lawsuit involving Amazon marketplace sales, and an emergency iOS security update addressing a flaw that could enable arbitrary code execution. Apple patent verdict

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, September 8th. KeyCorp restated an "underweight" rating on shares of Apple in a research note on Friday, September 4th. BTIG Research assumed coverage on Apple in a report on Monday, August 17th. They issued a "neutral" rating for the company. Daiwa Securities Group increased their price target on shares of Apple from $325.00 to $335.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Finally, UBS Group reissued a "buy" rating on shares of Apple in a report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $340.14.

Apple Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.