Nixon Peabody Trust Co. Sells 16,203 Shares of Apple Inc. $AAPL

Key Points

• Nixon Peabody Trust Co. cut its Apple stake by 6.3% in the first quarter, selling 16,203 shares and leaving it with 242,934 shares worth about $61.7 million. Apple remains the firm’s third-largest holding and makes up 4.9% of its portfolio.
• Apple recently beat quarterly earnings expectations, reporting $2.01 EPS on $111.18 billion in revenue, while also raising its quarterly dividend to $0.27 per share. Analysts currently rate the stock a Moderate Buy with a consensus target price of $318.43.
• Recent insider sales included CFO Kevan Parekh and insider Ben Borders, while Apple shares were trading near $333 and close to their 52-week high. The article also notes mixed news around Apple’s AI rollout, including approval in China alongside concerns about rising costs and regulatory scrutiny.

Nixon Peabody Trust Co. lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 242,934 shares of the iPhone maker's stock after selling 16,203 shares during the period. Apple comprises about 4.9% of Nixon Peabody Trust Co.'s investment portfolio, making the stock its 3rd biggest holding. Nixon Peabody Trust Co.'s holdings in Apple were worth $61,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Lifetime Wealth Management P.C. bought a new stake in Apple in the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management bought a new position in shares of Apple during the fourth quarter worth about $65,000. Timmons Wealth Management LLC bought a new position in shares of Apple during the fourth quarter worth about $69,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the 4th quarter worth about $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. TD Cowen boosted their price objective on Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Oppenheimer restated a "market perform" rating on shares of Apple in a research report on Tuesday, June 9th. Maxim Group reaffirmed a "buy" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. UBS Group set a $250.00 price target on Apple in a research report on Tuesday. Finally, Citigroup reissued a "buy" rating and issued a $365.00 price target (up from $315.00) on shares of Apple in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $318.43.

Insider Activity

In other news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on 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 of the company's stock, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ben Borders sold 1,274 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,924 shares of company stock valued at $825,546. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $333.26 on Friday. The stock's fifty day simple moving average is $302.80 and its 200 day simple moving average is $276.70. The stock has a market capitalization of $4.89 trillion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.84 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $334.68.

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, beating analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $1.65 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, clearing a major hurdle for Apple’s delayed AI rollout in its biggest international market. Reports also say Alibaba’s Qwen and Baidu models will help power the experience, which should support Apple’s AI adoption story. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Several market commentators say Apple is benefiting from a “standard oil” style strategy: keep monetizing a massive installed base through hardware, services, and selective ecosystem expansion rather than chasing capital-intensive AI infrastructure. That narrative is helping justify the stock’s record highs. Why Apple's 'Standard Oil' Strategy Is Driving the Stock to All-Time Highs
• Positive Sentiment: Warren Buffett reiterated that Apple remains one of Berkshire Hathaway’s favorite holdings, easing some investor concern about the planned CEO transition from Tim Cook. Warren Buffett Just Reaffirmed Apple as One of His Favorite Stocks
• Neutral Sentiment: KeyCorp raised earnings estimates for Apple for several future periods, but kept an Underweight rating and a $250 price target, signaling improving fundamentals while still warning that valuation is rich. Apple Inc. research notes and analyst updates
• Neutral Sentiment: Apple is reportedly exploring acquisitions of chip startups to strengthen its AI server and custom silicon efforts. That could help long-term competitiveness, but the impact is still speculative. Apple chasing AI chip company deals, The Information reports
• Negative Sentiment: Some reports say Apple’s iPhone manufacturing costs are rising because of higher component prices, and that could pressure margins if Apple can’t fully offset those costs with pricing or mix improvements. Apple's New iPhone Is Going to Cost Significantly More Than Last Year
• Negative Sentiment: Apple is also facing scrutiny from U.S. lawmakers over its China memory-chip sourcing plans, adding a political and supply-chain overhang to the AI and hardware story. AAPL's China Memory Chip Plans Draw National Security Scrutiny

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.

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