Apple Inc. $AAPL Stake Raised by Farmers National Bank

Key Points

• Farmers National Bank increased its Apple stake by 2.9% in the fourth quarter, bringing its holdings to 99,778 shares worth about $27.1 million. Apple remains the bank’s largest portfolio holding, making up roughly 6.1% of its investments.
• Apple reported strong quarterly results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping expectations. Revenue also rose 16.6% year over year, reinforcing ongoing business momentum.
• Analysts remain broadly constructive, with a consensus rating of Moderate Buy and an average price target of $314.85. However, the stock also faces some overhangs, including insider sales and a newly approved UK class-action lawsuit over iCloud fees.

Farmers National Bank raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,778 shares of the iPhone maker's stock after purchasing an additional 2,767 shares during the quarter. Apple accounts for about 6.1% of Farmers National Bank's investment portfolio, making the stock its biggest holding. Farmers National Bank's holdings in Apple were worth $27,126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. First National Bank of Hutchinson raised its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC grew its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC increased its stake in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE lifted its position 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 in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street's Leaning Into Apple's New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory's price surge threatens Apple's 'magic formula' — and the economy

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of Apple stock in a transaction on Thursday, April 2nd. The shares were 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 directly owned 136,810 shares of the company's stock, valued at $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy D. Cook sold 64,949 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 97,875 shares of company stock valued at $24,998,541. Insiders own 0.06% of the company's stock.

Apple Stock Down 0.7%

Shares of AAPL opened at $294.98 on Wednesday. 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 $4.33 trillion, a price-to-earnings ratio of 35.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09. Apple Inc. has a 1 year low of $199.26 and a 1 year high of $317.40. The business's 50 day simple moving average is $291.15 and its 200-day simple moving average is $273.06.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the firm posted $1.65 earnings per share. Apple's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.27 dividend. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio (DPR) is 13.06%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a report on Tuesday, June 9th. Morgan Stanley set a $325.00 price target on Apple in a report on Tuesday, June 9th. DA Davidson reaffirmed a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. Finally, Maxim Group reissued a "buy" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $314.85.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.