Iowa State Bank Purchases 10,803 Shares of Apple Inc. $AAPL

Key Points

• Iowa State Bank increased its Apple stake by 14.5% in the third quarter, acquiring 10,803 additional shares for a total of 85,537 shares valued at approximately $28.5 million. Apple now represents 4.6% of the bank’s portfolio and is its fifth-largest holding.
• Apple reported quarterly earnings of $2.02 per share on $109.42 billion in revenue, beating analyst expectations, while revenue rose 16.4% year over year. The stock carries a “Moderate Buy” consensus rating with an average price target of $340.39.
• Institutional investors own 67.73% of Apple, although company insiders sold about $92.9 million of stock over the past three months. Apple also pays a quarterly dividend of $0.27 per share, equivalent to a 0.3% yield.

Iowa State Bank grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 85,537 shares of the iPhone maker's stock after acquiring an additional 10,803 shares during the period. Apple comprises 4.6% of Iowa State Bank's holdings, making the stock its 5th largest holding. Iowa State Bank's holdings in Apple were worth $28,486,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Berkshire Hathaway Inc bought a new position in shares of Apple during the 2nd quarter worth approximately $65,950,297,000. Bank of America Corp DE bought a new stake in shares of Apple in the 2nd quarter valued at $36,986,090,000. Legal & General Group Plc bought a new stake in shares of Apple in the 2nd quarter valued at $30,443,242,000. Deutsche Bank AG bought a new stake in shares of Apple in the 2nd quarter valued at $13,658,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Apple during the 2nd quarter valued at $10,588,946,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Up 0.5%

AAPL opened at $342.96 on Thursday. The company has a 50 day moving average of $324.64 and a 200 day moving average of $305.24. The company has a market cap of $5.01 trillion, a PE ratio of 39.33, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $348.15. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's payout ratio is 12.39%.

Analyst Ratings Changes

A number of equities research analysts have commented on AAPL shares. Deutsche Bank Aktiengesellschaft cut shares of Apple from a "buy" rating to a "hold" rating in a report on Monday, August 17th. Raymond James Financial reiterated a "market perform" rating on shares of Apple in a report on Friday, July 31st. Bank of America reissued a "buy" rating and set a $370.00 price objective on shares of Apple in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. raised their target price on Apple from $340.00 to $360.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Royal Bank Of Canada set a $365.00 target price on Apple in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.39.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 46,389 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 136,810 shares of the company's stock, valued at $45,615,190.20. This represents a 25.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $336.18, for a total transaction of $806,495.82. Following the sale, the senior vice president owned 41,992 shares in the company, valued at approximately $14,116,870.56. This trade represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 279,383 shares of company stock valued at $92,912,517 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s $299 HomeView smart-home hub, along with new cameras, a doorbell, smart lock, thermostat and updated Apple TV and HomePod products, gives the company new hardware and ecosystem expansion opportunities. Analysts also see potential for recurring iCloud+ and other Services revenue. Apple releases HomeView smart home hub with screen as showcase for Siri AI
• Positive Sentiment: Apple reportedly plans to launch Apple Intelligence in mainland China in December, potentially improving access to AI features in a strategically important market. Apple to Release AI Platform in Mainland China
• Positive Sentiment: Apple benefited from news that GlobalFoundries will build two New York fabs with up to $21 billion in U.S.-Japan funding. Apple is expected to source chips from the expanded domestic capacity, supporting supply-chain diversification. GlobalFoundries Secures $21B for New York Fabs
• Positive Sentiment: Investor optimism was reinforced by Apple’s market value reclaiming the $5 trillion milestone, while analyst Dan Ives suggested a stronger AI strategy could support a $400 price target. Apple reaches new highs ahead of iPhone Duo preorders
• Neutral Sentiment: Apple’s iPhone Duo preorders begin October 16. Strong demand could provide a near-term catalyst, but reports of shorter iPhone 18 Pro delivery windows and reduced supplier production have raised questions about demand.
• Neutral Sentiment: Analysts estimate that a paid, more capable Siri could eventually generate substantial Services revenue, but Apple has not announced pricing or a launch date for expanded AI access.
• Negative Sentiment: OpenAI alleges that a former employee who joined Apple transferred more than 100 confidential files concerning an unreleased device. The case could create legal, reputational and product-development risks, although there is no indication Apple used the information. OpenAI alleges former employee took device files to Apple
• Negative Sentiment: Gene Munster warned Apple could lose the AI platform battle if users become loyal to rival assistants such as Meta’s Muse or Grok. Critics also questioned whether HomeView meaningfully addresses Apple’s AI shortcomings.
• Negative Sentiment: With Apple trading near record levels at a rich valuation, investors are concerned that slower growth, margin pressure and uncertain iPhone demand may limit further upside.

About Apple

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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