Apple Inc. $AAPL Stock Holdings Trimmed by London Co. of Virginia

Key Points

• London Co. of Virginia trimmed its Apple stake by 6.0% in the first quarter, selling 145,948 shares and retaining 2,269,872 shares worth approximately $576.1 million. Apple remains the fund’s largest holding and represents about 3.5% of its portfolio.
• Analyst sentiment remains broadly positive, with Apple receiving a consensus “Moderate Buy” rating and an average price target of $328.60, despite recent downgrades from KGI Securities and Jefferies.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. However, rising memory costs, supply-chain uncertainty and potential iPhone price increases could pressure future margins and demand.

London Co. of Virginia lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,269,872 shares of the iPhone maker's stock after selling 145,948 shares during the quarter. Apple comprises approximately 3.5% of London Co. of Virginia's holdings, making the stock its biggest holding. London Co. of Virginia's holdings in Apple were worth $576,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. First National Bank of Hutchinson raised its holdings in shares of 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 purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC increased its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC raised its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC lifted its position in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its stake 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 worth $12,587,000 after buying an additional 1,155 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on AAPL shares. KGI Securities lowered shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research note on Monday, June 8th. UBS Group reiterated a "neutral" rating on shares of Apple in a research note on Friday, July 31st. Monness Crespi & Hardt boosted their price target on Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, DA Davidson restated a "neutral" rating and issued a $270.00 price target on shares of Apple in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $328.60.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is testing memory chips from China’s CXMT for some iPhones and MacBooks sold in China. If approved by U.S. authorities, the move could provide an additional supply source and help mitigate shortages caused by surging AI-related demand. Apple tests China's CXMT memory chips
• Positive Sentiment: Some Apple-focused investors, including Deepwater Asset Management’s Gene Munster, argue that the shares remain undervalued and that future iPhone price increases, artificial-intelligence features and a potential upgrade cycle could support longer-term growth. Gene Munster disagrees with Apple downgrade
• Neutral Sentiment: Apple is scheduled to pay a quarterly dividend of $0.27 per share on August 13 to eligible shareholders, providing a modest near-term shareholder return. Apple dividend payment
• Negative Sentiment: Jefferies downgraded Apple from Hold to Underperform and cut its price target to $263.66 from $285.56. Analyst Edison Lee reportedly believes Apple has scrapped a planned all-glass iPhone because of production challenges, removing a potential premium product that could have lifted average selling prices and profitability. Apple could underperform without an all-glass iPhone
• Negative Sentiment: Memory and storage costs are rising sharply amid the AI-driven supply crunch; reports suggest iPhone 18 production costs could increase by roughly 38%. Apple may need to raise prices, risking weaker demand, or absorb the costs, pressuring margins. Apple's iPhone 18 costs could jump 38%
• Negative Sentiment: The CXMT testing also introduces geopolitical and execution risks: U.S. restrictions could limit Apple’s access to the supplier, while CXMT’s capacity and technology may lag established memory manufacturers. These issues add uncertainty to Apple’s supply chain and pricing strategy.

Apple Stock Performance

Shares of AAPL opened at $308.26 on Tuesday. The firm has a market cap of $4.50 trillion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.68 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $309.49 and its two-hundred day moving average is $283.86. Apple Inc. has a 52-week low of $223.78 and a 52-week high of $344.57.

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 (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analysts' expectations of $109.04 billion. During the same period in the prior year, the company posted $1.57 earnings per share. The firm's quarterly revenue was up 16.4% on a year-over-year basis. Analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Activity

In other news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company's stock.

About Apple

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source