Canandaigua National Trust Co of Florida Acquires 13,991 Shares of Apple Inc. $AAPL

Key Points

• Canandaigua National Trust Co. of Florida acquired 13,991 Apple shares worth approximately $4.66 million, making Apple its sixth-largest holding at 2.6% of the portfolio.
• Institutional investors own 67.73% of Apple, with major firms including State Street, Berkshire Hathaway, Bank of America and Amundi recently increasing or initiating positions.
• Apple reported quarterly earnings and revenue above analyst expectations, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $340.39; insiders have also sold shares primarily to cover tax obligations.

Canandaigua National Trust Co of Florida acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,991 shares of the iPhone maker's stock, valued at approximately $4,659,000. Apple comprises 2.6% of Canandaigua National Trust Co of Florida's portfolio, making the stock its 6th biggest holding.

A number of other institutional investors also recently bought and sold shares of AAPL. State Street Corp increased its holdings in Apple by 4.7% during the second quarter. State Street Corp now owns 630,662,494 shares of the iPhone maker's stock valued at $182,897,769,000 after buying an additional 28,321,085 shares during the last quarter. Berkshire Hathaway Inc bought a new position in Apple in the second quarter worth approximately $65,950,297,000. Bank of America Corp DE bought a new position in Apple in the second quarter worth approximately $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple during the 2nd quarter worth $30,443,242,000. Finally, Amundi grew its position in shares of Apple by 23.2% during the 1st quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock valued at $18,547,637,000 after acquiring an additional 13,780,080 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.3%

Shares of AAPL opened at $342.00 on Friday. The firm has a market cap of $4.99 trillion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1 year low of $243.42 and a 1 year high of $348.15. The company has a 50 day simple moving average of $325.23 and a two-hundred day simple moving average of $305.90.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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 company had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share. On average, equities analysts expect that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Announces Dividend

The company 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 payout ratio is 12.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research note on Friday, September 25th. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. China Renaissance lowered Apple from a "buy" rating to a "hold" rating and cut their price target for the company from $329.00 to $280.00 in a report on Tuesday, August 4th. TD Cowen reissued a "buy" rating and set a $400.00 price target on shares of Apple in a report on Thursday, September 10th. Finally, Seaport Research Partners cut Apple from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $340.39.

Insider Activity

In other news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the sale, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy Cook sold 191,753 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the completion of the sale, the insider directly owned 3,264,168 shares in the company, valued at approximately $1,086,837,377.28. This represents a 5.55% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 281,782 shares of company stock worth $93,740,172. 0.06% of the stock is currently owned by insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple and Meta Platforms are collaborating to let developers run Meta’s large Muse AI model locally on high-end Mac computers. The partnership could strengthen the Mac’s appeal for AI workloads while reducing reliance on cloud computing. Apple and Meta team up to make Muse AI model run on Mac computers
• Positive Sentiment: Apple’s first foldable iPhone, the 7.6-inch iPhone Duo, begins preorders Friday. A successful launch could open a new premium product category and support revenue growth, although its high price makes demand uncertain. iPhone Duo preorders begin Friday
• Positive Sentiment: Apple recently closed above a $5 trillion market capitalization, reinforcing investor confidence and highlighting the stock’s recent momentum. Reports also indicate Apple Intelligence may finally launch in mainland China in December, expanding the potential user base. Apple tops $5 trillion valuation
• Neutral Sentiment: The China AI rollout is reportedly limited and may exclude the upgraded Siri and Genmoji features, making the launch strategically important but less compelling than a full-featured release. Apple Intelligence in China
• Negative Sentiment: Analysts and commentators remain concerned that Apple is spending less on AI than rivals and could fall behind in advanced assistants, while the stock’s elevated valuation leaves less room for execution disappointments. Reported iPhone 18 Pro component-order reductions add to demand concerns. Apple reportedly cuts iPhone 18 orders
• Negative Sentiment: Apple is challenging a $5.7 billion damages ruling in a patent case, while OpenAI alleges that a former employee who joined Apple took confidential information about an unreleased device. Both matters create potential financial and reputational risk. Apple challenges Taction damages ruling
• Negative Sentiment: Senior Vice President Jennifer Newstead sold 2,399 Apple shares for approximately $828,000. The transaction is relatively small compared with Apple’s market value, but insider selling can add modest short-term pressure.

Apple Company 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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