Apple Inc. $AAPL is AMG National Trust Bank's 9th Largest Position

Key Points

• AMG National Trust Bank boosted its Apple stake by 10.7% in Q4, buying 32,194 more shares and making Apple its 9th-largest holding. The position was worth about $90.2 million at quarter-end.
• Apple is drawing fresh optimism around AI and Siri upgrades, with Bank of America raising its price target to $380 and saying agentic AI could create new revenue opportunities. Reports also suggest Apple is preparing a major Siri overhaul for WWDC.
• The company recently beat earnings expectations, posting $2.01 EPS on $111.18 billion in revenue, and it also increased its quarterly dividend to $0.27 per share. Apple stock was trading near its 12-month high, reflecting strong investor sentiment.

AMG National Trust Bank raised its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 331,808 shares of the iPhone maker's stock after buying an additional 32,194 shares during the period. Apple makes up about 2.1% of AMG National Trust Bank's holdings, making the stock its 9th biggest holding. AMG National Trust Bank's holdings in Apple were worth $90,205,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AAPL. Norges Bank acquired a new stake in shares of Apple in the 2nd quarter valued at about $38,942,255,000. Nuveen LLC acquired a new stake in shares of Apple in the 1st quarter valued at about $17,472,482,000. Laurel Wealth Advisors LLC raised its stake in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Apple by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America raised its price target on Apple to $380 from $330 and kept a Buy rating, saying agentic AI could strengthen Apple’s ecosystem and create meaningful new revenue opportunities.
• Positive Sentiment: Multiple reports say Apple is preparing a major Siri overhaul for WWDC, including a new app-like experience designed to compete more directly with ChatGPT-style assistants, which could improve sentiment around Apple’s AI roadmap.
• Positive Sentiment: Analysts and commentary continue to argue that Apple’s installed base, privacy controls, payments, and device ownership give it a strong position if AI assistants become a primary interface for search, commerce, and productivity.
• Neutral Sentiment: Apple’s stock is already near record territory, so some of the optimism around AI and WWDC may already be reflected in the share price.
• Negative Sentiment: Some articles note that Apple is still viewed by parts of the market as an AI laggard versus rivals, and that its valuation is already rich, which could limit upside if WWDC disappoints.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 0.5%

Apple stock opened at $312.51 on Friday. The firm has a 50 day simple moving average of $274.19 and a 200-day simple moving average of $269.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $4.59 trillion, a PE ratio of 37.79, a price-to-earnings-growth ratio of 2.71 and a beta of 1.06. Apple Inc. has a 12-month low of $195.07 and a 12-month high of $313.26.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.65 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. This is a positive change from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio (DPR) is presently 13.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a research note on Wednesday, March 4th. TD Cowen reiterated a "buy" rating and set a $335.00 price objective (up from $325.00) on shares of Apple in a research note on Friday, May 1st. Rosenblatt Securities increased their price objective on shares of Apple from $268.00 to $276.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Scotiabank set a $330.00 price objective on shares of Apple in a research note on Monday, February 2nd. Finally, Morgan Stanley restated an "overweight" rating and issued a $330.00 price target (up from $315.00) on shares of Apple in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $310.31.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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