Bank of America Corp DE Sells 2,883,820 Shares of Apple Inc. $AAPL

Key Points

• Bank of America reduced its Apple stake by 2.3%, selling 2.88 million shares in the first quarter. It still owns 120.7 million shares worth approximately $30.6 billion, making Apple its second-largest holding.
• Apple reported stronger-than-expected quarterly results, with $2.02 in EPS and $109.42 billion in revenue, up 16.4% year over year. The company also paid a quarterly dividend of $0.27 per share.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $328.60, though some have cited valuation, rising component costs and competitive pressure as risks.

Bank of America Corp DE lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,727,964 shares of the iPhone maker's stock after selling 2,883,820 shares during the period. Apple accounts for approximately 2.2% of Bank of America Corp DE's holdings, making the stock its 2nd biggest position. Bank of America Corp DE owned 0.82% of Apple worth $30,639,550,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new stake in shares of Apple in the 4th quarter worth $41,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at about $65,000. Timmons Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $69,000. Finally, Inspire Investing LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

Shares of AAPL stock opened at $305.26 on Friday. Apple Inc. has a 12 month low of $223.78 and a 12 month high of $344.57. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $309.00 and a two-hundred day moving average of $285.04. The company has a market capitalization of $4.46 trillion, a P/E ratio of 35.01, a P/E/G ratio of 2.59 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company's revenue for the quarter 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. As a group, equities analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors 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 dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 12.39%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reportedly received approximately $2.2 billion in tariff refunds, which could support near-term cash flow and earnings. More than 40 S&P 500 companies have reported receiving refunds from the broader tariff program. S&P 500 Companies Claim First Payouts From $100 Billion Tariff Refund Wave
• Positive Sentiment: Apple opened a 20,000-square-foot Advanced Manufacturing Center in Houston, where it plans to assemble Mac mini computers and co-locate advanced AI-server production. The facility strengthens Apple’s U.S. manufacturing narrative and may improve supplier capabilities. Apple's Tim Cook joined by Howard Lutnick in opening Houston manufacturing plant
• Positive Sentiment: Norway’s sovereign wealth fund disclosed Apple as its second-largest global holding, valued at roughly 522 billion Norwegian kroner. The position provides a signal of continued confidence from a major long-term investor. Apple Stock Rises While Norway Fund Reveals Huge Position
• Neutral Sentiment: Apple is negotiating performance-based licensing agreements with publishers to supply current content for an upgraded, AI-powered Siri. The deals could improve Siri’s usefulness, but the potential nine-figure expense would pressure services margins and monetization remains uncertain. Apple in Talks to Pay Publishers to Improve AI-Powered Siri
• Negative Sentiment: Jefferies reduced its Apple price target, questioning whether the company has enough product and artificial-intelligence momentum to justify its premium valuation. Google’s new Pixel 11 lineup also intensifies competition ahead of Apple’s expected Siri and iPhone updates. Apple Stock Falls After Jefferies Slashes Price Target
• Negative Sentiment: Rising memory and other component costs could erode Apple’s margins even if demand remains strong. Apple is testing Chinese supplier CXMT for DRAM, which could diversify supply but introduces geopolitical and quality-related risks. Apple Stock's Biggest Risk Is The Memory Bill, Not Demand
• Negative Sentiment: Senior Vice President Jennifer Newstead sold 1,439 Apple shares for approximately $443,000, reducing her direct stake by 3.46%. The transaction is relatively small but may add modest insider-selling pressure. Apple SEC Form 4 Insider Sale

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of Apple 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 completion of the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Apple stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $307.75, for a total transaction of $442,852.25. Following the transaction, the senior vice president directly owned 40,107 shares of the company's stock, valued at $12,342,929.25. This represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. DZ Bank downgraded Apple from a "buy" rating to a "hold" rating and set a $310.00 price objective on the stock. in a report on Tuesday, August 4th. Robert W. Baird raised their price objective on shares of Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Apple from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. Finally, Wedbush restated an "outperform" rating and issued a $400.00 price objective on shares of Apple in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $328.60.

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