NBT Bank N.A. cut its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,533 shares of the iPhone maker's stock after selling 14,284 shares during the quarter. Apple accounts for 4.9% of NBT Bank N.A.'s portfolio, making the stock its 2nd largest position. NBT Bank N.A.'s holdings in Apple were worth $74,230,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rainier Family Wealth Inc. boosted its holdings in shares of Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock worth $6,189,000 after purchasing an additional 3,014 shares during the period. Eaton Cambridge Inc. increased its stake in Apple by 21.3% in the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker's stock valued at $3,545,000 after buying an additional 2,450 shares during the period. Torren Management LLC purchased a new stake in Apple in the 4th quarter worth approximately $1,178,000. Summit Wealth Partners LLC boosted its stake in shares of Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock valued at $8,880,000 after buying an additional 18,188 shares during the period. Finally, Davis R M Inc. boosted its stake in shares of Apple by 2.1% during the 1st quarter. Davis R M Inc. now owns 1,151,352 shares of the iPhone maker's stock valued at $292,202,000 after buying an additional 23,162 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Apple
In other news, insider Ben Borders sold 116 shares of the 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 owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $317.01, for a total value of $456,177.39. Following the completion of the transaction, the senior vice president directly owned 35,790 shares in the company, valued at $11,345,787.90. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,872 shares of company stock valued at $1,823,201 in the last ninety days. Insiders own 0.06% of the company's stock.
Analyst Ratings Changes
AAPL has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Apple from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 31st. Oppenheimer restated a "market perform" rating on shares of Apple in a research note on Friday, July 31st. KeyCorp reaffirmed an "underweight" rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities raised their price target on Apple from $300.00 to $303.00 and gave the stock a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $330.61.
Get Our Latest Stock Analysis on AAPL
Apple Stock Performance
Shares of AAPL opened at $328.21 on Friday. The firm has a market cap of $4.79 trillion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The company's fifty day moving average is $314.94 and its 200-day moving average is $290.13. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12 month low of $225.95 and a 12 month high of $344.57.
Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (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 analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 EPS. Equities analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's payout ratio is currently 12.39%.
More Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Investor optimism is building ahead of Apple’s September 9 product event, the first major launch under new CEO John Ternus. Ternus described the event as “phenomenal,” raising expectations for new premium iPhones and the company’s first foldable iPhone. Apple’s New CEO Teases “Phenomenal” iPhone Launch
- Positive Sentiment: The foldable iPhone could provide a significant new growth catalyst. Morgan Stanley estimates the device could contribute approximately $14 billion to the December quarter, while other projections suggest strong market share and premium pricing potential if demand materializes. Apple’s Foldable iPhone May Contribute $14 Billion
- Positive Sentiment: Morgan Stanley reaffirmed its Overweight rating and set a $360 price target, supporting the view that Apple’s product pipeline and earnings growth can justify its premium valuation. Apple’s services business also continues to benefit from price increases to Apple TV and Apple One. Apple TV Price Hike
- Neutral Sentiment: John Ternus has formally succeeded Tim Cook, while Cook remains executive chairman. The structure provides continuity and preserves Cook’s government and China relationships, but Ternus must prove that a product-focused strategy can improve Apple’s position in AI. Apple Leadership Transition
- Negative Sentiment: Jefferies downgraded Apple to Underperform, reportedly citing the cancellation of an all-glass MacBook or foldable MacBook project and skepticism that the foldable iPhone will be more than a niche product. Jefferies Downgrades Apple
- Negative Sentiment: Apple faces a £2 billion ($2.7 billion) UK lawsuit alleging that its App Tracking Transparency rules unfairly restrict third-party developers while favoring Apple’s own advertising services. BASF has also filed a separate patent lawsuit over face-authentication technology. BASF Patent Lawsuit
- Negative Sentiment: Rising memory-chip costs could lift iPhone production expenses sharply, forcing Apple to raise prices, accept lower margins or risk weaker demand. Analysts remain divided, with DA Davidson maintaining a Neutral rating and a $270 price target. Apple Product and Leadership Outlook
- Negative Sentiment: An Apple senior vice president sold 1,439 shares worth about $456,000. The sale was relatively small, leaving the executive with nearly 35,800 shares, but it may add modestly to near-term investor caution. Apple Insider Trading Filing
Apple Profile
(
Free Report)
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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