Apple Inc. $AAPL Shares Purchased by Cornerstone National Bank & Trust Co

Key Points

• Cornerstone National Bank & Trust increased its Apple stake by 49.3% in the third quarter, ending the period with 15,824 shares valued at approximately $5.23 million.
• Apple beat quarterly expectations, reporting $2.10 in earnings per share and $114.48 billion in revenue; revenue rose 11.7% year over year.
• Analyst sentiment was broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $343.74, though some firms downgraded the stock or lowered their targets.

Cornerstone National Bank & Trust Co raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 49.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,824 shares of the iPhone maker's stock after buying an additional 5,228 shares during the quarter. Apple comprises 1.7% of Cornerstone National Bank & Trust Co's portfolio, making the stock its 20th largest holding. Cornerstone National Bank & Trust Co's holdings in Apple were worth $5,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in Apple by 4.7% in the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock valued at $182,897,769,000 after purchasing an additional 28,321,085 shares in the last quarter. Berkshire Hathaway Inc purchased a new stake in Apple during the second quarter valued at about $65,950,297,000. Bank of America Corp DE bought a new position in Apple during the 2nd quarter worth approximately $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple in the second quarter worth $30,443,242,000. Finally, Amundi raised its stake in shares of Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after acquiring an additional 13,780,080 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 46,389 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at $45,615,190.20. The trade was a 25.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ben Borders sold 1,280 shares of the company's stock in a transaction on Friday, October 16th. The shares were sold at an average price of $345.40, for a total value of $442,112.00. Following the completion of the transaction, the insider directly owned 38,288 shares in the company, valued at $13,224,675.20. This trade represents a 3.23% decrease in their position. 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 have sold 291,651 shares of company stock valued at $97,082,537 over the last quarter. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Evercore reiterated an "outperform" rating on shares of Apple in a report on Tuesday, October 27th. China Renaissance downgraded Apple from a "buy" rating to a "hold" rating and reduced their price target for the company from $329.00 to $280.00 in a report on Tuesday, August 4th. Loop Capital lowered shares of Apple from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $370.00 to $330.00 in a report on Tuesday, October 20th. Maxim Group boosted their target price on Apple from $350.00 to $380.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group set a $380.00 price target on Apple in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $343.74.

Apple Trading Down 1.5%

AAPL stock opened at $344.17 on Friday. The company has a market capitalization of $5.00 trillion, a price-to-earnings ratio of 38.37, a PEG ratio of 3.30 and a beta of 1.07. The business has a 50 day simple moving average of $335.46 and a two-hundred day simple moving average of $298.03. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $355.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.99 by $0.11. The business had revenue of $114.48 billion for the quarter, compared to analysts' expectations of $113.40 billion. Apple had a net margin of 27.60% and a return on equity of 125.35%. The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.85 EPS. Research analysts anticipate that Apple Inc. will post 9.64 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple's dividend payout ratio (DPR) is 12.39%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple beat fiscal fourth-quarter earnings and revenue expectations, with revenue of $114.5 billion and solid iPhone and Mac demand. The results support the view that product demand remains healthy. Apple shares fell despite a double beat in Q4
• Positive Sentiment: Bernstein raised its price target to $380 and kept a Buy rating, citing potential upside from Apple’s business prospects. Bernstein rating and price target
• Neutral Sentiment: Apple is reportedly seeking up to $7 billion through a bond offering. The borrowing adds financing flexibility, but the reports did not specify how proceeds would be used. Apple seeks about $7 billion from bond sale
• Negative Sentiment: Management flagged memory-chip costs that could keep rising, along with supply constraints ahead of the December quarter. These pressures may weigh on margins even as demand remains strong. Supply constraints and rising memory costs
• Negative Sentiment: Investors are also scrutinizing earnings quality: tariff refunds boosted reported profit metrics, making the underlying results less straightforward to assess. Investors revisit Apple earnings quality
• Negative Sentiment: Analyst caution and valuation concerns add to the headwinds. DZ Bank cut Apple to Sell, while coverage also points to slower Services growth and a premium share valuation. DZ Bank downgrades Apple

Apple Company Profile

Apple Inc designs, develops and sells 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 applications that support its hardware ecosystem.

Apple's services business includes the App Store, Apple Music, Apple TV, Apple Arcade, iCloud, Apple Pay and other subscription, payment and digital-content offerings.

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