Community Bank N.A. Sells 1,842 Shares of Apple Inc. $AAPL

Key Points

• Community Bank N.A. reduced its Apple stake by 1,842 shares, leaving it with 371,053 shares valued at approximately $107.4 million. Apple remains the bank’s largest holding, representing about 11.6% of its portfolio.
• Institutional investors own 67.73% of Apple’s shares, while the stock recently traded near $336.64. Apple reported quarterly earnings of $2.02 per share and revenue of $109.42 billion, exceeding analyst expectations.
• Analyst sentiment remains broadly positive but risks persist: Apple has a “Moderate Buy” consensus rating and a $340.02 average price target, while concerns include its elevated valuation, possible iPhone demand weakness, margin pressure and recent insider selling.

Community Bank N.A. decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 371,053 shares of the iPhone maker's stock after selling 1,842 shares during the quarter. Apple accounts for about 11.6% of Community Bank N.A.'s investment portfolio, making the stock its largest holding. Community Bank N.A.'s holdings in Apple were worth $107,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AAPL. Berkshire Hathaway Inc purchased a new position in Apple during the second quarter valued at approximately $65,950,297,000. Bank of America Corp DE purchased a new position in shares of Apple during the 2nd quarter valued at $36,986,090,000. Legal & General Group Plc acquired a new position in shares of Apple in the second quarter worth $30,443,242,000. Deutsche Bank AG acquired a new position in shares of Apple in the second quarter worth $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Apple in the second quarter worth $10,588,946,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 1.1%

Shares of NASDAQ AAPL opened at $336.64 on Friday. 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 Inc. has a 52 week low of $243.42 and a 52 week high of $345.34. The stock has a market capitalization of $4.91 trillion, a P/E ratio of 38.61, a PEG ratio of 2.68 and a beta of 1.07. The stock's fifty day moving average is $322.61 and its 200 day moving average is $302.99.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. Apple's revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.3%. Apple's dividend payout ratio (DPR) is currently 12.39%.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 46,389 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the sale, the senior vice president directly owned 136,810 shares in the company, valued at $45,615,190.20. This represents a 25.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 2,399 shares of the firm's stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the completion of the sale, the senior vice president owned 39,593 shares in the company, valued at approximately $13,145,271.93. The trade was a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 279,383 shares of company stock worth $92,912,517. 0.06% of the stock is owned by company insiders.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent research reports. Royal Bank Of Canada set a $365.00 price objective on Apple in a report on Wednesday, July 15th. Morgan Stanley set a $355.00 price objective on Apple and gave the company an "overweight" rating in a research report on Thursday, October 1st. Weiss Ratings upgraded Apple from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. KGI Securities lowered Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a research report on Monday, June 22nd. Finally, Barclays reaffirmed an "underweight" rating and issued a $245.00 target price (down from $253.00) on shares of Apple in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $340.02.

Apple 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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