Keybank National Association OH Reduces Stock Holdings in Apple Inc. $AAPL

Key Points

• Keybank National Association OH trimmed its Apple stake by 0.4% in the first quarter, selling 20,005 shares but still holding 4.83 million shares worth about $1.23 billion. Apple remains the fund’s second-largest position and accounts for 4.5% of its holdings.
• Apple continues to draw broad institutional and analyst support, with several funds increasing positions and Wall Street maintaining a Moderate Buy consensus. The average price target is $316.32, while some firms, including Citi and Wedbush, see further upside.
• The article also highlights strong recent fundamentals, including better-than-expected quarterly earnings and revenue growth, plus a small dividend increase to $0.27 per share. Apple’s stock has also been trading near record highs, reflecting continued investor optimism.

Keybank National Association OH lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,829,888 shares of the iPhone maker's stock after selling 20,005 shares during the quarter. Apple makes up 4.5% of Keybank National Association OH's holdings, making the stock its 2nd biggest position. Keybank National Association OH's holdings in Apple were worth $1,225,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Stevens Capital Partners increased its holdings in Apple by 9.7% during the first quarter. Stevens Capital Partners now owns 19,723 shares of the iPhone maker's stock worth $5,006,000 after buying an additional 1,744 shares during the last quarter. Physician Wealth Advisors Inc. lifted its stake in Apple by 0.5% in the first quarter. Physician Wealth Advisors Inc. now owns 62,645 shares of the iPhone maker's stock valued at $15,899,000 after acquiring an additional 340 shares during the last quarter. Able Wealth Management LLC lifted its stake in Apple by 1,377.5% in the first quarter. Able Wealth Management LLC now owns 17,538 shares of the iPhone maker's stock valued at $4,451,000 after acquiring an additional 16,351 shares during the last quarter. Heritage Oak Wealth Advisors LLC grew its position in shares of Apple by 6.2% in the 1st quarter. Heritage Oak Wealth Advisors LLC now owns 17,478 shares of the iPhone maker's stock valued at $4,436,000 after acquiring an additional 1,023 shares during the period. Finally, TSG Advice Partners LLC increased its stake in shares of Apple by 3.2% during the 1st quarter. TSG Advice Partners LLC now owns 66,812 shares of the iPhone maker's stock worth $16,956,000 after purchasing an additional 2,098 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 from $315 and kept a Buy rating, saying Apple should keep gaining market share and may benefit from premium iPhone demand, selective price increases, and an upcoming iPhone 18 launch as a catalyst. Article Title
• Positive Sentiment: Several reports highlighted Apple’s stock hitting record highs, with analysts arguing the company is benefiting from relative restraint on AI spending versus peers and that investors still see more upside after the recent rally. Article Title
• Positive Sentiment: Apple was also tied to a reported acquisition of open-source observability developer SigScalr, which could support its internal data and software tooling efforts. Article Title
• Neutral Sentiment: News that Apple sued OpenAI over alleged trade-secret theft is generating headlines and could help Apple strategically if it protects future AI hardware plans, but it also adds legal uncertainty and keeps pressure on the company’s AI narrative. Article Title
• Neutral Sentiment: Commentary around Apple’s AI strategy, including reports that it may accelerate chip releases, reflects investor focus on whether the company can keep up in AI-enabled hardware without ramping spending as aggressively as rivals. Article Title
• Negative Sentiment: The OpenAI lawsuit could intensify Apple’s legal battles, including renewed scrutiny of App Store fees and broader competitive risks, which may create headline volatility even if the core business remains strong. Article Title

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ben Borders sold 116 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,924 shares of company stock valued at $825,546 in the last three months. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAPL. Barclays reaffirmed an "underweight" rating on shares of Apple in a report on Tuesday, June 9th. DA Davidson reissued a "neutral" rating and set a $270.00 price target on shares of Apple in a research report on Friday, May 1st. Wedbush restated an "outperform" rating and issued a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research report on Friday, June 26th. Finally, BNP Paribas Exane upgraded Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price for the company in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $316.32.

Apple Price Performance

Apple stock opened at $317.31 on Tuesday. The company has a market capitalization of $4.66 trillion, a price-to-earnings ratio of 38.37, a PEG ratio of 2.74 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $323.45. The stock's 50 day moving average is $300.47 and its 200-day moving average is $275.60.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. Equities research analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is 13.06%.

About Apple

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.