Apple Inc. $AAPL Shares Sold by Evercore Wealth Management LLC

Key Points

• Evercore Wealth Management reduced its Apple stake by 4.6% in the first quarter, selling 72,216 shares and retaining 1.50 million shares worth about $381.8 million. Apple remains the firm’s largest holding and represents roughly 6% of its portfolio.
• Apple reported a strong June quarter, with revenue up 16.4% year over year to $109.42 billion and EPS of $2.02, exceeding analyst expectations. Institutional investors own approximately 67.7% of the company, while Apple continues to pay a quarterly dividend of $0.27 per share.
• Investor concerns center on valuation and rising costs: Jefferies downgraded the stock to Underperform, citing uncertainty around future iPhone upgrades and pricing power, while higher memory and storage costs could pressure margins or force further price increases. Apple nevertheless has a Moderate Buy consensus rating and an average price target of $328.60.

Evercore Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,504,338 shares of the iPhone maker's stock after selling 72,216 shares during the period. Apple accounts for about 6.0% of Evercore Wealth Management LLC's investment portfolio, making the stock its biggest position. Evercore Wealth Management LLC's holdings in Apple were worth $381,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Rainier Family Wealth Inc. lifted its holdings in Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock valued at $6,189,000 after buying an additional 3,014 shares during the period. Eaton Cambridge Inc. grew its holdings in Apple by 21.3% during the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker's stock worth $3,545,000 after acquiring an additional 2,450 shares during the period. Torren Management LLC acquired a new stake in Apple during the 4th quarter worth $1,178,000. Summit Wealth Partners LLC raised its position in shares of Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock valued at $8,880,000 after acquiring an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in shares of Apple during the 4th quarter valued at $105,482,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s latest quarter was its strongest June quarter on record, with revenue rising 16.4% year over year to $109.42 billion and earnings per share of $2.02, ahead of Wall Street expectations. Some investors and analysts, including Gene Munster, view the recent weakness as an attractive accumulation opportunity and anticipate a substantial iPhone upgrade cycle. Apple’s Dip Below $310 is a Great Accumulation Opportunity
• Positive Sentiment: Apple is reportedly exploring alternative memory suppliers, including China’s CXMT, as artificial-intelligence demand tightens global DRAM supplies. Diversifying procurement could help reduce shortages and limit production disruptions, although U.S. restrictions may constrain the opportunity. Apple tests China’s CXMT memory chips
• Neutral Sentiment: Apple is participating in efforts to make AI-generated content traceable, potentially strengthening platform trust and content provenance over time. The initiative is strategically relevant but is unlikely to materially affect near-term earnings. Tech’s Big Push to Make AI Content Traceable
• Neutral Sentiment: Apple Pay and Wallet chief Jennifer Bailey is retiring, creating another senior leadership transition. The impact depends on the successor and execution in financial services. Jennifer Bailey retires
• Negative Sentiment: Jefferies downgraded AAPL from Hold to Underperform and cut its price target to $263.66 from $285.56. The firm cited supply-chain checks suggesting Apple may have abandoned a high-end all-glass iPhone, weakening the case for significantly higher average selling prices. Bloomberg separately reported that the 2027 device may still be on track, leaving uncertainty rather than confirmation. Jefferies downgrades Apple
• Negative Sentiment: Surging memory and storage costs could raise iPhone production expenses by roughly 38%, forcing Apple to choose between higher prices that could pressure demand and lower margins. Reports that iPhone prices have already increased by as much as $300 are intensifying concerns about consumer affordability and pricing power. Apple’s Next iPhone Could Test Pricing Power
• Negative Sentiment: Analyst confidence has cooled despite strong revenue growth, with investors questioning whether Apple can sustain premium-device growth at its roughly $4.45 trillion valuation, particularly as Nvidia and other AI leaders capture more market enthusiasm.

Apple Stock Performance

AAPL stock opened at $304.91 on Wednesday. Apple Inc. has a 1-year low of $223.78 and a 1-year high of $344.57. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4.45 trillion, a PE ratio of 34.97, a P/E/G ratio of 2.64 and a beta of 1.09. The business's 50-day moving average price is $309.28 and its two-hundred day moving average price is $284.26.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. The company 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 revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.57 earnings per share. As a group, research analysts forecast that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple's payout ratio is currently 12.39%.

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AAPL shares. KGI Securities lowered Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a research report on Monday, June 22nd. Evercore reiterated an "outperform" rating on shares of Apple in a report on Wednesday, July 8th. Raymond James Financial reissued a "market perform" rating on shares of Apple in a research note on Friday, July 31st. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Apple from $345.00 to $340.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $328.60.

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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