Apple Inc. $AAPL Stock Holdings Cut by Bangor Savings Bank

Key Points

• Bangor Savings Bank reduced its Apple stake by 3.2% in the third quarter, selling 1,951 shares and retaining 59,816 shares worth approximately $19.9 million. Apple represents about 1.5% of the bank’s portfolio.
• Other institutional investors largely increased their positions, and hedge funds and institutions collectively own 67.73% of Apple’s shares.
• Apple shares were trading near record highs, giving the company a roughly $5.01 trillion market capitalization; analysts maintain a “Moderate Buy” consensus with an average price target of $340.39, while insiders have sold about $92.9 million of stock over the past 90 days.

Bangor Savings Bank decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,816 shares of the iPhone maker's stock after selling 1,951 shares during the period. Apple comprises about 1.5% of Bangor Savings Bank's holdings, making the stock its 16th largest holding. Bangor Savings Bank's holdings in Apple were worth $19,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Congress Asset Management Co. grew its stake in shares of Apple by 2.9% in the third quarter. Congress Asset Management Co. now owns 1,656,363 shares of the iPhone maker's stock worth $548,018,000 after purchasing an additional 46,617 shares during the last quarter. Bank of New Hampshire increased its holdings in Apple by 7.4% in the third quarter. Bank of New Hampshire now owns 73,396 shares of the iPhone maker's stock valued at $24,067,000 after purchasing an additional 5,047 shares during the period. RVW Wealth LLC increased its holdings in Apple by 5.2% in the third quarter. RVW Wealth LLC now owns 139,003 shares of the iPhone maker's stock valued at $46,085,000 after purchasing an additional 6,846 shares during the period. Boyum Wealth Architects LLC raised its position in Apple by 1.3% during the 3rd quarter. Boyum Wealth Architects LLC now owns 6,411 shares of the iPhone maker's stock worth $2,139,000 after purchasing an additional 80 shares during the last quarter. Finally, Colton Groome Financial Advisors LLC boosted its holdings in Apple by 13.4% in the third quarter. Colton Groome Financial Advisors LLC now owns 37,346 shares of the iPhone maker's stock valued at $12,381,000 after acquiring an additional 4,423 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $332.01, for a total value of $796,491.99. Following the transaction, the senior vice president owned 39,593 shares in the company, valued at $13,145,271.93. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Ternus sold 25,412 shares of the company's 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 sale, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. The trade was a 29.90% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 279,383 shares of company stock worth $92,912,517. 0.06% of the stock is currently owned by insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s $299 HomeView smart-home hub, along with new cameras, a doorbell, smart lock, thermostat and updated Apple TV and HomePod products, gives the company new hardware and ecosystem expansion opportunities. Analysts also see potential for recurring iCloud+ and other Services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Apple reportedly plans to launch Apple Intelligence in mainland China in December, potentially improving access to AI features in a strategically important market. Apple to Release AI Platform in Mainland China
• Positive Sentiment: Apple benefited from news that GlobalFoundries will build two New York fabs with up to $21 billion in U.S.-Japan funding. Apple is expected to source chips from the expanded domestic capacity, supporting supply-chain diversification. GlobalFoundries Secures $21B for New York Fabs
• Positive Sentiment: Investor optimism was reinforced by Apple’s market value reclaiming the $5 trillion milestone, while analyst Dan Ives suggested a stronger AI strategy could support a $400 price target. Apple reaches new highs ahead of iPhone Duo preorders
• Neutral Sentiment: Apple’s iPhone Duo preorders begin October 16. Strong demand could provide a near-term catalyst, but reports of shorter iPhone 18 Pro delivery windows and reduced supplier production have raised questions about demand.
• Neutral Sentiment: Analysts estimate that a paid, more capable Siri could eventually generate substantial Services revenue, but Apple has not announced pricing or a launch date for expanded AI access.
• Negative Sentiment: OpenAI alleges that a former employee who joined Apple transferred more than 100 confidential files concerning an unreleased device. The case could create legal, reputational and product-development risks, although there is no indication Apple used the information. OpenAI alleges former employee took device files to Apple
• Negative Sentiment: Gene Munster warned Apple could lose the AI platform battle if users become loyal to rival assistants such as Meta’s Muse or Grok. Critics also questioned whether HomeView meaningfully addresses Apple’s AI shortcomings.
• Negative Sentiment: With Apple trading near record levels at a rich valuation, investors are concerned that slower growth, margin pressure and uncertain iPhone demand may limit further upside.

Apple Stock Performance

Shares of AAPL opened at $342.96 on Thursday. Apple Inc. has a one year low of $243.42 and a one year high of $348.15. The company has a market cap of $5.01 trillion, a PE ratio of 39.33, a P/E/G ratio of 2.72 and a beta of 1.07. The stock has a 50-day moving average of $324.64 and a 200-day moving average of $305.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the prior year, the business earned $1.57 EPS. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple's dividend payout ratio (DPR) is currently 12.39%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AAPL shares. TD Cowen reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Apple in a research note on Thursday, September 10th. Raymond James Financial reiterated a "market perform" rating on shares of Apple in a report on Friday, July 31st. Wells Fargo & Company reissued an "overweight" rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Friday, July 31st. Daiwa Securities Group boosted their price objective on Apple from $325.00 to $335.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Finally, Bank of America reissued a "buy" rating and issued a $370.00 price objective on shares of Apple in a research note on Wednesday, September 23rd. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $340.39.

Apple Company Profile

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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