Arlington Trust Co LLC Has $7.30 Million Stock Position in Apple Inc. $AAPL

Key Points

• Arlington Trust increased its Apple stake by 9.8% in the second quarter, holding 25,230 shares valued at approximately $7.30 million. Institutional investors collectively own 67.73% of Apple’s outstanding stock.
• Analyst sentiment remains broadly positive, with Apple carrying a “Moderate Buy” consensus rating and an average price target of $330.53, despite some recent downgrades.
• Apple reported quarterly EPS of $2.02 and revenue of $109.42 billion, exceeding analyst estimates, while shares opened at $316.83 and the company maintained a quarterly dividend of $0.27 per share.

Arlington Trust Co LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,230 shares of the iPhone maker's stock after purchasing an additional 2,251 shares during the period. Apple accounts for approximately 0.6% of Arlington Trust Co LLC's holdings, making the stock its 10th largest position. Arlington Trust Co LLC's holdings in Apple were worth $7,301,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC boosted its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at approximately $65,000. Timmons Wealth Management LLC purchased a new stake in Apple during the 4th quarter valued at approximately $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was 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. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 1,439 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $307.75, for a total value of $442,852.25. Following the sale, the senior vice president owned 40,107 shares in the company, valued at $12,342,929.25. The trade was a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AAPL shares. TD Cowen upped their target price on shares of Apple from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Rosenblatt Securities boosted their price target on shares of Apple from $276.00 to $300.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $285.56 to $263.66 in a report on Monday, August 10th. Finally, Phillip Securities lowered Apple from a "hold" rating to a "moderate sell" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.53.

Apple Trading Up 2.2%

Shares of AAPL opened at $316.83 on Thursday. The company's fifty day moving average is $309.95 and its 200 day moving average is $286.52. Apple Inc. has a fifty-two week low of $223.78 and a fifty-two week high of $344.57. The stock has a market capitalization of $4.62 trillion, a PE ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The business 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%. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 earnings per share. Sell-side analysts expect that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given 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 is 12.39%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analyst upgrade and bullish outlook: Rothschild & Co. Redburn upgraded Apple from “Neutral” to “Buy” and raised its price target to $400, implying substantial upside. Morgan Stanley also identified Apple among large-cap technology stocks showing a bullish technical signal. Apple stock upgrade and price target
• Positive Sentiment: Apple positioned as an AI and volatility hedge: Analysts argue that Apple’s restrained AI infrastructure spending limits capital-expenditure and valuation risk relative to peers committing hundreds of billions of dollars to AI. Some investors also view Apple as an underappreciated AI beneficiary through its installed base and potential improvements to Siri. Apple's low AI spending
• Positive Sentiment: Macro support: Retreating Treasury yields helped restore demand for mega-cap technology stocks, while Apple showed relative strength even as semiconductor shares and parts of the technology sector weakened. Apple stock and Treasury yields
• Positive Sentiment: Product optionality: Reports that a future foldable iPhone could support an estimated 11% increase in average iPhone prices provide a potential catalyst for revenue and margin growth, although the product remains unannounced. Apple foldable iPhone outlook

Apple Company 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.

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