Apple Inc. $AAPL Stake Lowered by Security National Bank of SO Dak

Key Points

• Security National Bank of South Dakota cut its Apple stake by 11.3% in the second quarter, selling 4,893 shares and retaining 38,468 shares worth approximately $11.1 million.
• Institutional investors own 67.73% of Apple, while insiders sold 279,383 shares worth about $92.9 million over the past three months, primarily to cover tax obligations from vested equity awards.
• Apple reported quarterly revenue of $109.42 billion and earnings of $2.02 per share, exceeding analyst estimates. The stock carries a “Moderate Buy” consensus rating with an average price target of $340.39.

Security National Bank of SO Dak reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,468 shares of the iPhone maker's stock after selling 4,893 shares during the quarter. Apple accounts for about 5.2% of Security National Bank of SO Dak's investment portfolio, making the stock its 2nd largest holding. Security National Bank of SO Dak's holdings in Apple were worth $11,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Security National Bank of Sioux City Iowa IA grew its holdings in Apple by 19.6% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 36,623 shares of the iPhone maker's stock worth $10,597,000 after buying an additional 5,989 shares in the last quarter. Wellington Altus USA Inc. increased its position in Apple by 78.4% in the 2nd quarter. Wellington Altus USA Inc. now owns 10,633 shares of the iPhone maker's stock valued at $3,077,000 after acquiring an additional 4,674 shares during the period. Reynders McVeigh Capital Management LLC raised its stake in Apple by 29.2% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 600,912 shares of the iPhone maker's stock valued at $177,300,000 after acquiring an additional 135,884 shares in the last quarter. Revere Asset Management Inc raised its stake in Apple by 5.1% during the 2nd quarter. Revere Asset Management Inc now owns 1,443 shares of the iPhone maker's stock valued at $418,000 after acquiring an additional 70 shares in the last quarter. Finally, Bullseye Investment Management LLC acquired a new position in Apple during the 2nd quarter worth $284,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, CEO John Ternus sold 25,412 shares of Apple stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer directly owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This trade represents a 29.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. Also, SVP Deirdre O'brien sold 46,389 shares of the firm'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 sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. The trade was a 25.32% 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. In the last three months, insiders have sold 279,383 shares of company stock worth $92,912,517. Insiders own 0.06% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: JPMorgan raised its Apple price target from $340 to $360 and maintained an “Overweight” rating, citing improved iPhone 18 Pro demand. Bank of America reiterated its Buy rating and kept a $370 target, viewing potential Starlink competition as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Apple reportedly reached a 22% share of the global smartphone market in the third quarter, supported by premium iPhone 18 Pro demand despite an overall industry shipment decline. Reports of strong orders for a new foldable iPhone also provided an additional growth narrative. Apple Stock Nears Record High as iPhone Market Share Hits 22%
• Positive Sentiment: Investors are anticipating Apple’s expanded smart-home strategy, including a rumored HomeView hub and updated Apple TV and HomePod mini. A successful launch could strengthen Apple’s ecosystem and open a new product category. Will the HomeView Be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession is proceeding with John Ternus replacing Tim Cook, while Cook becomes executive chairman. Apple also met with Chinese officials, underscoring the importance of maintaining stable business and trade relations in its largest overseas market. Tim Cook Meets China’s Vice Premier
• Negative Sentiment: SpaceX’s planned Starlink mobile service could pressure wireless-carrier subsidies that support iPhone sales and eventually create a competing smartphone ecosystem. SpaceX’s Starlink Could Pose Risks to Apple
• Negative Sentiment: Reported supplier order reductions and rising memory costs are renewing concerns about iPhone 18 demand and margins. Google’s integration of wearable data with more than 160 lab tests also increases competition for Apple’s health-platform advantage. iPhone 18 Demand and Supplier Order Cuts

Apple Trading Up 1.3%

NASDAQ AAPL opened at $340.97 on Tuesday. Apple Inc. has a twelve month low of $243.42 and a twelve month high of $345.34. 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 stock has a market cap of $4.98 trillion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.68 and a beta of 1.07. The firm's 50 day moving average price is $323.36 and its two-hundred day moving average price is $303.99.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion for 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 firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 EPS. Equities analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given 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, August 10th. Apple's payout ratio is currently 12.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AAPL shares. Phillip Securities lifted their price objective on shares of Apple from $290.00 to $300.00 and gave the company a "neutral" rating in a research note on Monday, September 14th. HSBC reiterated a "buy" rating and issued a $366.00 target price on shares of Apple in a research report on Tuesday, September 8th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Thursday, October 1st. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research report on Friday, September 25th. Finally, Arete Research upped their price target on shares of Apple from $305.00 to $335.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $340.39.

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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