5,038 Apple Inc. $AAPL Shares Bought by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust increased its Apple stake by 4.6% in the third quarter, purchasing 5,038 shares and bringing its holdings to 115,574 shares valued at approximately $38.1 million. Institutional investors collectively own 67.73% of Apple.
• Apple reported quarterly EPS of $2.02, exceeding the $1.89 analyst consensus, while revenue reached $109.42 billion, up 16.4% year over year. The company also maintains a $0.27 quarterly dividend, equivalent to a 0.3% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $340.39, though concerns remain about Apple’s elevated valuation, AI competitiveness, potential iPhone demand weakness, and ongoing legal and insider-selling developments.

Canandaigua National Bank & Trust Co. raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,574 shares of the iPhone maker's stock after purchasing an additional 5,038 shares during the period. Apple accounts for approximately 3.4% of Canandaigua National Bank & Trust Co.'s investment portfolio, making the stock its 5th biggest position. Canandaigua National Bank & Trust Co.'s holdings in Apple were worth $38,096,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Baring Financial LLC lifted its stake in shares of Apple by 8.8% in the 3rd quarter. Baring Financial LLC now owns 12,162 shares of the iPhone maker's stock valued at $4,050,000 after purchasing an additional 981 shares during the period. Bath Savings Trust Co grew its stake in Apple by 37.5% during the third quarter. Bath Savings Trust Co now owns 365,525 shares of the iPhone maker's stock worth $115,491,000 after purchasing an additional 99,601 shares during the period. Greenfield Savings Bank grew its stake in Apple by 1.1% during the third quarter. Greenfield Savings Bank now owns 65,277 shares of the iPhone maker's stock worth $21,664,000 after purchasing an additional 702 shares during the period. Cassilly Financial Group LLC grew its stake in Apple by 58.7% during the third quarter. Cassilly Financial Group LLC now owns 2,324 shares of the iPhone maker's stock worth $774,000 after purchasing an additional 860 shares during the period. Finally, Rhodes Investment Advisors Inc. ADV increased its holdings in Apple by 0.3% in the third quarter. Rhodes Investment Advisors Inc. ADV now owns 11,943 shares of the iPhone maker's stock worth $3,977,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $342.00 on Friday. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $348.15. The stock has a market cap of $4.99 trillion, a price-to-earnings ratio of 39.22, a PEG ratio of 2.73 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm's 50-day simple moving average is $325.23 and its 200 day simple moving average is $305.90.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. As a group, research analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Robert W. Baird increased their price target on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research report on Wednesday, July 15th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a research note on Friday, September 25th. Raymond James Financial reiterated a "market perform" rating on shares of Apple in a research report on Friday, July 31st. Finally, Arete Research boosted their target price on shares of Apple from $305.00 to $335.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $340.39.

Insider Buying and Selling

In related news, SVP Jennifer Newstead sold 2,399 shares of the company's stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $336.18, for a total transaction of $806,495.82. Following the completion of the sale, the senior vice president owned 41,992 shares in the company, valued at approximately $14,116,870.56. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the completion of the sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. The trade was a 25.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 281,782 shares of company stock worth $93,740,172 in the last ninety days. Corporate insiders own 0.06% of the company's stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple and Meta Platforms are collaborating to let developers run Meta’s large Muse AI model locally on high-end Mac computers. The partnership could strengthen the Mac’s appeal for AI workloads while reducing reliance on cloud computing. Apple and Meta team up to make Muse AI model run on Mac computers
• Positive Sentiment: Apple’s first foldable iPhone, the 7.6-inch iPhone Duo, begins preorders Friday. A successful launch could open a new premium product category and support revenue growth, although its high price makes demand uncertain. iPhone Duo preorders begin Friday
• Positive Sentiment: Apple recently closed above a $5 trillion market capitalization, reinforcing investor confidence and highlighting the stock’s recent momentum. Reports also indicate Apple Intelligence may finally launch in mainland China in December, expanding the potential user base. Apple tops $5 trillion valuation
• Neutral Sentiment: The China AI rollout is reportedly limited and may exclude the upgraded Siri and Genmoji features, making the launch strategically important but less compelling than a full-featured release. Apple Intelligence in China
• Negative Sentiment: Analysts and commentators remain concerned that Apple is spending less on AI than rivals and could fall behind in advanced assistants, while the stock’s elevated valuation leaves less room for execution disappointments. Reported iPhone 18 Pro component-order reductions add to demand concerns. Apple reportedly cuts iPhone 18 orders
• Negative Sentiment: Apple is challenging a $5.7 billion damages ruling in a patent case, while OpenAI alleges that a former employee who joined Apple took confidential information about an unreleased device. Both matters create potential financial and reputational risk. Apple challenges Taction damages ruling
• Negative Sentiment: Senior Vice President Jennifer Newstead sold 2,399 Apple shares for approximately $828,000. The transaction is relatively small compared with Apple’s market value, but insider selling can add modest short-term pressure.

About Apple

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.

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