Arvest Bank Trust Division Acquires 11,460 Shares of Apple Inc. $AAPL

Key Points

• Arvest Bank Trust Division increased its Apple stake by 6.6% in the first quarter, acquiring 11,460 additional shares and bringing its holdings to 185,562 shares valued at approximately $47.1 million.
• Institutional investors own 67.73% of Apple’s stock, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $330.44.
• Apple reported quarterly earnings of $2.02 per share and revenue of $109.42 billion, exceeding estimates; it also declared a quarterly dividend of $0.27 per share.

Arvest Bank Trust Division boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 185,562 shares of the iPhone maker's stock after buying an additional 11,460 shares during the period. Apple accounts for approximately 2.6% of Arvest Bank Trust Division's holdings, making the stock its 10th largest holding. Arvest Bank Trust Division's holdings in Apple were worth $47,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Alpha Financial Partners LLC increased its stake in shares of Apple by 5.4% during the 1st quarter. Alpha Financial Partners LLC now owns 7,747 shares of the iPhone maker's stock valued at $1,966,000 after acquiring an additional 394 shares during the last quarter. Summitas Investment Management LLC purchased a new stake in Apple in the first quarter valued at approximately $1,793,000. Alesco Advisors LLC An ESL Co grew its holdings in Apple by 19.0% in the first quarter. Alesco Advisors LLC An ESL Co now owns 36,233 shares of the iPhone maker's stock valued at $9,196,000 after purchasing an additional 5,774 shares during the period. Acumen Wealth Advisors LLC increased its position in Apple by 11.6% during the first quarter. Acumen Wealth Advisors LLC now owns 50,843 shares of the iPhone maker's stock worth $12,904,000 after purchasing an additional 5,280 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Apple by 20.9% during the first quarter. First Trust Advisors LP now owns 5,213,875 shares of the iPhone maker's stock worth $1,323,229,000 after purchasing an additional 900,803 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

AAPL stock opened at $313.33 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52-week low of $219.25 and a 52-week high of $344.57. The stock's 50 day moving average is $309.45 and its two-hundred day moving average is $283.23. The company has a market capitalization of $4.57 trillion, a PE ratio of 35.93, a P/E/G ratio of 2.68 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last released 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. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 earnings per share. Analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AAPL shares. Morgan Stanley lowered their price objective on shares of Apple from $364.00 to $360.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. TD Cowen boosted their price target on Apple from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their price target on Apple from $345.00 to $340.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Finally, Bank of America restated a "buy" rating and issued a $380.00 price objective on shares of Apple in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $330.44.

Insiders Place Their Bets

In other news, insider Ben Borders sold 116 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

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.

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.

Continue following MarketBeat

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

Add As Preferred Source