133,308 Shares in Apple Inc. $AAPL Purchased by 1ST Source Bank

Key Points

• 1ST Source Bank acquired 133,308 Apple shares worth approximately $38.6 million during the second quarter, making Apple its seventh-largest holding and representing 1.7% of its portfolio.
• Institutional investors remain heavily invested in Apple, with hedge funds and other institutions owning 67.73% of the stock. Major holders including Vanguard, Nuveen, Amundi, Fisher Asset Management and Dimensional Fund Advisors recently increased their positions.
• Analysts maintain a generally positive outlook, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $338.80. Shares opened at $333.08, near their 52-week high, while strong iPhone and foldable-device prospects are balanced by elevated valuation and potential memory-cost pressures.

1ST Source Bank acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 133,308 shares of the iPhone maker's stock, valued at approximately $38,574,000. Apple accounts for about 1.7% of 1ST Source Bank's holdings, making the stock its 7th largest position.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. Nuveen LLC grew its position in shares of Apple by 3.8% during the fourth quarter. Nuveen LLC now owns 75,000,920 shares of the iPhone maker's stock worth $20,389,750,000 after buying an additional 2,725,121 shares in the last quarter. Amundi grew its position in shares of Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after buying an additional 13,780,080 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Apple by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 55,146,752 shares of the iPhone maker's stock worth $14,992,196,000 after buying an additional 704,293 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Apple by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock worth $14,858,200,000 after buying an additional 979,832 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analysts remain bullish on the iPhone cycle. Bank of America reaffirmed its Buy rating and $370 price target, citing encouraging iPhone 18 trends and potential artificial-intelligence upside. JPMorgan also maintained a Buy rating, pointing to the longer-term opportunity from the iPhone 18 cycle and foldable Duo. Apple Buy Rating Reaffirmed
• Positive Sentiment: The iPhone Duo is fueling growth expectations. Analysts and industry observers believe Apple’s first foldable iPhone could expand the premium smartphone market, strengthen the product cycle and create a new source of revenue and earnings growth. Can New iPhone Duo Power Apple's Stock Higher?
• Positive Sentiment: Apple’s antitrust exposure has eased. Elon Musk’s X Corp. and SpaceXAI moved to resolve or dismiss their antitrust claims against Apple related to its ChatGPT integration, reducing one legal overhang, although related claims against OpenAI continue. Musk's X Corp and SpaceXAI Resolve Antitrust Lawsuit
• Neutral Sentiment: iPhone 18 Pro pre-orders are sending mixed signals. Delivery estimates are generally shorter than during last year’s iPhone 17 launch, which could indicate softer demand, but may also reflect supply improvements or customers waiting for the iPhone Duo. Apple iPhone 18 Pro Pre-orders Point to Mixed Demand Signals
• Neutral Sentiment: Apple released iOS 27 with a redesigned Siri. The update expands Apple’s AI capabilities, but the initial waitlist and support for existing devices could limit near-term iPhone replacement demand. Apple Releases Redesigned Siri AI
• Negative Sentiment: Valuation and cost risks remain. With Apple trading near its 52-week high at a premium earnings multiple, investors may demand strong Duo adoption. Reports of sharply higher memory prices could pressure hardware margins or force price increases, while OpenAI’s acquisition of an AI-camera startup founded by former Apple employees highlights intensifying competition in AI-enabled devices. Apple CEO Warns of Memory Price Crisis

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. HSBC reissued a "buy" rating and issued a $366.00 price objective on shares of Apple in a research report on Tuesday, September 8th. Piper Sandler began coverage on shares of Apple in a report on Monday, August 17th. They issued an "overweight" rating on the stock. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Apple in a research report on Sunday. Finally, Argus boosted their target price on shares of Apple from $325.00 to $375.00 in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus target price of $338.80.

Apple Stock Up 0.2%

Shares of NASDAQ:AAPL opened at $333.08 on Tuesday. The company has a market capitalization of $4.86 trillion, a PE ratio of 38.20, a P/E/G ratio of 2.89 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a twelve month low of $235.03 and a twelve month high of $344.57. The firm has a 50 day simple moving average of $318.61 and a 200-day simple moving average of $293.06.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the firm posted $1.57 EPS. The company's revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Activity

In other news, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39. Following the sale, the senior vice president owned 35,790 shares in the company, valued at approximately $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 7,194 shares of company stock worth $2,245,142 over the last 90 days. Company insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its principal products include the iPhone, Mac computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and applications that support its hardware products.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, Apple Fitness+, Apple News+, Apple Pay and iCloud. These services provide digital content, payments, cloud storage and subscription offerings across the company's ecosystem of devices.

Founded in 1976, Apple is headquartered in Cupertino, California, and serves consumers, businesses, educational institutions and government customers worldwide.

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