Glenview Trust Co Has $279.49 Million Position in Apple Inc. $AAPL

Key Points

• Glenview Trust increased its Apple stake by 3.1% in the first quarter, bringing its holdings to 1.10 million shares valued at approximately $279.5 million. Apple represents 4.4% of the firm’s portfolio and is its second-largest position.
• Apple reported a strong fiscal third quarter, with revenue up 16.4% year over year to $109.42 billion and EPS of $2.02, exceeding analyst estimates. However, slower Services growth, rising memory costs, valuation concerns and CEO-transition uncertainty remain risks.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $330.44, while Apple continues paying a quarterly dividend of $0.27 per share.

Glenview Trust Co raised its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,101,275 shares of the iPhone maker's stock after acquiring an additional 32,927 shares during the quarter. Apple makes up about 4.4% of Glenview Trust Co's portfolio, making the stock its 2nd biggest position. Glenview Trust Co's holdings in Apple were worth $279,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. JMG Financial Group Ltd. grew its position in shares of Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker's stock worth $1,295,000 after buying an additional 35 shares during the last quarter. Reyes Financial Architecture Inc. boosted its stake in Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after acquiring an additional 37 shares in the last quarter. WESPAC Advisors LLC grew its holdings in Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after purchasing an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. increased its position in shares of Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock worth $286,000 after purchasing an additional 40 shares in the last quarter. Finally, Sugar Maple Asset Management LLC lifted its holdings in shares of Apple by 2.0% during the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after purchasing an additional 40 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: App Store revenue rose 0.6% year over year to $3.4 billion during the first 35 days of Apple’s fiscal fourth quarter, despite a 4% decline in iPhone and iPad downloads. Revenue per download increased 4.7% to $1.02, suggesting stronger monetization and supporting the Services business. Apple App Store revenue ticks up despite falling downloads
• Positive Sentiment: Apple’s fiscal third-quarter revenue reached a June-quarter record of $109.4 billion, up 16% year over year, while earnings exceeded estimates. Reports also point to broad iPhone, Mac and Services demand, resilient iPhone sales and continued growth in India, providing a fundamental counterweight to recent market concerns. Apple’s Quarterly iPhone Sales Were Even Better Than They Seem
• Positive Sentiment: Some analysts and market commentators continue to recommend buying the pullback, arguing that Apple’s ecosystem, product pipeline and long-term earnings potential remain attractive despite near-term volatility. 3 Reasons to Buy Apple Stock on the Dip
• Neutral Sentiment: OpenAI asked a federal judge to dismiss Apple’s trade-secrets lawsuit, denying that it misappropriated confidential information through former Apple employees. The filing creates legal and reputational uncertainty, although the financial impact is not yet clear. OpenAI asks US judge to dismiss Apple’s trade secrets case
• Negative Sentiment: Analysts at Phillip Securities, DZ Bank and China Renaissance lowered their views on Apple to Moderate Sell or Hold. Concerns include slowing Services growth, elevated memory costs, supply constraints, policy risks and Apple’s premium valuation.
• Negative Sentiment: Services revenue grew about 12% to $30.7 billion, making it the slowest-growing of Apple’s three largest businesses. Tim Cook also warned that rising memory prices could pressure margins, while the CEO transition adds uncertainty after a record quarter. Tim Cook’s Last Quarter as CEO

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 116 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider directly 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 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. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of several research analyst reports. UBS Group restated a "neutral" rating on shares of Apple in a research note on Friday, July 31st. Morgan Stanley dropped their price target on Apple from $364.00 to $360.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Robert W. Baird increased their price objective on shares of Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Royal Bank Of Canada set a $365.00 target price on shares of Apple in a research note on Wednesday, July 15th. Finally, Evercore reissued an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $330.44.

Apple Price Performance

Shares of NASDAQ AAPL opened at $312.41 on Friday. Apple Inc. has a 52 week low of $216.58 and a 52 week high of $344.57. The business's 50 day moving average price is $309.43 and its 200 day moving average price is $283.02. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4.56 trillion, a P/E ratio of 35.83, a P/E/G ratio of 2.67 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The business 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 business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 EPS. On average, sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors 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 12.39%.

Apple 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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