Apple Inc. $AAPL is Citizens Financial Group Inc. RI's 2nd Largest Position

Key Points

• Citizens Financial Group Inc. RI trimmed its Apple stake by 1.5% in the first quarter but still held 1,394,254 shares worth about $353.8 million, making Apple its second-largest holding and about 4.9% of its portfolio.
• Apple continues to attract bullish analyst support, with firms like Baird and TD Cowen raising price targets and maintaining positive ratings. The consensus among analysts remains a Moderate Buy, with an average target price of $327.40.
• The company recently reported strong quarterly results, topping EPS and revenue estimates, and also increased its quarterly dividend to $0.27 per share. Apple stock was trading near its 52-week high, reflecting continued investor optimism.

Citizens Financial Group Inc. RI trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,394,254 shares of the iPhone maker's stock after selling 20,825 shares during the period. Apple comprises approximately 4.9% of Citizens Financial Group Inc. RI's investment portfolio, making the stock its 2nd largest holding. Citizens Financial Group Inc. RI's holdings in Apple were worth $353,848,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson grew its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC lifted its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after purchasing an additional 1,155 shares during the period. Institutional investors own 67.73% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Insider Activity at Apple

In other news, insider Ben Borders sold 1,274 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AAPL shares. Robert W. Baird raised their target price on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research report on Friday. TD Cowen increased their price target on Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Wells Fargo & Company restated an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a report on Friday, April 17th. Finally, Royal Bank Of Canada set a $365.00 target price on shares of Apple in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $327.40.

Apple Stock Up 3.5%

AAPL stock opened at $333.02 on Friday. The stock has a 50-day simple moving average of $306.62 and a two-hundred day simple moving average of $279.01. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $334.99. The firm has a market capitalization of $4.89 trillion, a PE ratio of 40.27, a PEG ratio of 2.88 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The company's revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

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

Apple 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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