Busey Bank Raises Holdings in Apple Inc. $AAPL

Key Points

• Busey Bank increased its Apple stake by 0.4% in the first quarter, owning 959,110 shares worth about $243.4 million. Apple remains its largest holding, making up 6.6% of the bank’s portfolio.
• Apple reported strong quarterly results, with EPS of $2.01 beating estimates and revenue rising 16.6% year over year to $111.18 billion. The company also raised its quarterly dividend to $0.27 per share.
• Wall Street sentiment remains broadly positive, with several analysts maintaining or upgrading ratings and a consensus Moderate Buy target of $318.43. Recent headlines also highlighted Apple Intelligence progress in China and HSBC’s upgraded price target of $366.

Busey Bank increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 959,110 shares of the iPhone maker's stock after purchasing an additional 4,064 shares during the quarter. Apple makes up 6.6% of Busey Bank's portfolio, making the stock its largest holding. Busey Bank's holdings in Apple were worth $243,413,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. First National Bank of Hutchinson raised its holdings in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its stake 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 acquiring an additional 272 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Apple by 14.8% in the 4th 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 raised its position in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its holdings in Apple by 2.4% during the 4th 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 owned by institutional investors and hedge funds.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: HSBC upgraded Apple Inc. NASDAQ: AAPL to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees "strong cycle ahead"
• Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world's most valuable company
• Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company's stock, valued at $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. This represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,924 shares of company stock worth $825,546 over the last ninety days. Insiders own 0.06% of the company's stock.

Apple Trading Up 0.1%

NASDAQ:AAPL opened at $333.74 on Friday. The firm has a 50-day moving average price of $303.61 and a two-hundred day moving average price of $277.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market cap of $4.90 trillion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 2.90 and a beta of 1.10. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $334.99.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. Apple's revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple's payout ratio is 13.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AAPL shares. Maxim Group reiterated a "buy" rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a report on Tuesday, June 9th. BNP Paribas Exane raised Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Barclays reiterated an "underweight" rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $276.00 price objective on shares of Apple in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $318.43.

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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