Apple Inc. $AAPL Stock: Security National Bank of Sioux City Iowa IA Boosts Position

Key Points

• Security National Bank of Sioux City Iowa IA increased its Apple position by 19.6% in the second quarter, holding 36,623 shares worth approximately $10.6 million. Apple represented 4.4% of the bank’s portfolio and was its third-largest holding.
• Institutional ownership stands at 67.73%, while analyst sentiment is broadly positive: Apple has a “Moderate Buy” consensus rating and an average price target of $340.39, supported by several recent price-target increases.
• Apple reported quarterly earnings of $2.02 per share on $109.42 billion in revenue, exceeding expectations, while shares traded near their 52-week high. Recent concerns include insider selling, potential Starlink competition, supplier order reductions and rising memory costs.

Security National Bank of Sioux City Iowa IA boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 19.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,623 shares of the iPhone maker's stock after buying an additional 5,989 shares during the period. Apple makes up about 4.4% of Security National Bank of Sioux City Iowa IA's portfolio, making the stock its 3rd biggest holding. Security National Bank of Sioux City Iowa IA's holdings in Apple were worth $10,597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Berkshire Hathaway Inc purchased a new position in shares of Apple in the 2nd quarter worth $65,950,297,000. Bank of America Corp DE bought a new stake in shares of Apple in the 2nd quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new stake in shares of Apple during the 2nd quarter valued at about $30,443,242,000. Deutsche Bank AG purchased a new stake in shares of Apple during the 2nd quarter valued at about $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Apple during the 2nd quarter valued at about $10,588,946,000. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on AAPL. Citic Securities lifted their price target on Apple from $300.00 to $349.00 in a research report on Thursday, August 6th. CICC Research upped their price objective on Apple from $310.00 to $340.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. Arete Research raised their price objective on Apple from $305.00 to $335.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. BTIG Research began coverage on Apple in a report on Monday, August 17th. They issued a "neutral" rating for the company. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $340.39.

Apple Trading Up 1.3%

Shares of NASDAQ AAPL opened at $340.97 on Tuesday. 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 business's 50 day moving average price is $323.36 and its 200-day moving average price is $303.99. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34. The company 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.

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

Apple Dividend Announcement

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

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total value of $15,467,020.38. Following the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the 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 completion of the transaction, the senior vice president directly owned 39,593 shares in the company, valued at approximately $13,145,271.93. This trade represents a 5.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 279,383 shares of company stock worth $92,912,517. Corporate insiders own 0.06% of the company's stock.

Key Apple News

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 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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