Rockland Trust Co. Has $94.05 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• Rockland Trust reduced its Apple position by 2% in the second quarter, selling 6,470 shares. It still held 325,023 shares valued at approximately $94.05 million, making Apple its fifth-largest portfolio holding.
• Analysts maintain a “Moderate Buy” consensus on Apple, with an average price target of $330.53, although ratings and targets varied widely from bullish to underperforming.
• Apple reported quarterly earnings and revenue above expectations, with revenue up 16.4% year over year, and paid a quarterly dividend of $0.27 per share. Insiders sold 2,994 shares worth about $919,567 over the past three months.

Rockland Trust Co. reduced its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,023 shares of the iPhone maker's stock after selling 6,470 shares during the quarter. Apple makes up about 3.7% of Rockland Trust Co.'s investment portfolio, making the stock its 5th largest holding. Rockland Trust Co.'s holdings in Apple were worth $94,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Lifetime Wealth Management P.C. purchased a new stake in Apple in the 4th quarter worth $41,000. ROSS JOHNSON & Associates LLC lifted its position in shares of Apple by 1,800.0% in 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 in the last quarter. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter valued at about $65,000. Timmons Wealth Management LLC bought a new position in shares of Apple in the fourth quarter worth about $69,000. Finally, Inspire Investing LLC bought a new position in shares of Apple in the fourth quarter worth about $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Wells Fargo & Company reissued an "overweight" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Friday, July 31st. TD Cowen upped their price target on Apple from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. DZ Bank lowered shares of Apple from a "buy" rating to a "hold" rating and set a $310.00 price objective for the company. in a report on Tuesday, August 4th. Jefferies Financial Group cut shares of Apple from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $285.56 to $263.66 in a research report on Monday, August 10th. Finally, Maxim Group reissued a "buy" rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $330.53.

Insiders Place Their Bets

In related news, SVP Jennifer Newstead sold 1,439 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $307.49, for a total value of $442,478.11. Following the sale, the senior vice president owned 38,668 shares in the company, valued at approximately $11,890,023.32. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 2,994 shares of company stock valued at $919,567. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

NASDAQ:AAPL opened at $309.35 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.51 trillion, a P/E ratio of 35.48, a P/E/G ratio of 2.65 and a beta of 1.09. Apple Inc. has a 12 month low of $224.69 and a 12 month high of $344.57. The business's 50-day moving average is $310.63 and its 200 day moving average is $287.04.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The firm's revenue was up 16.4% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Incoming CEO John Ternus is expected to reassess Apple’s research-and-development budget and potentially increase spending on AI. Analysts see stronger investment in Siri and other AI products as a way to close the gap with technology rivals. Apple Could Get a New R&D and AI Budget
• Positive Sentiment: Potential product catalysts include an AI-enhanced Siri expected later this year, camera-equipped AI AirPods targeted for 2027 and a foldable iPhone that one analyst estimates could sell 14 million units by 2027. Successful launches could support a major upgrade cycle. Apple Wants to Pay Publishers to Improve Siri
• Positive Sentiment: Walmart’s nationwide rollout of contactless payments will add Apple Pay acceptance across its U.S. stores, websites and apps. The move expands Apple Pay’s reach and strengthens Apple’s services ecosystem. Walmart Adds Apple Pay Nationwide
• Neutral Sentiment: Options activity showed a modestly bullish bias, with calls outnumbering puts, while implied volatility remained below its 52-week median. However, the signal was not strong enough to establish a decisive near-term direction. Apple Options Sentiment
• Neutral Sentiment: Apple’s leadership change on September 1 is creating both opportunity and uncertainty. Bank of America maintains a Buy view but says Ternus must deliver more surprising products and technologies because the company has become increasingly predictable. Apple Must Relearn How to Surprise
• Negative Sentiment: Apple reportedly cut more than 200 positions tied to Siri and the Vision Pro headset while redirecting resources toward future devices. The restructuring may improve efficiency, but it also highlights execution challenges in AI and spatial computing.
• Negative Sentiment: Analysts have warned that Apple’s insulation from macroeconomic and competitive headwinds is fading. With shares trading at a high earnings multiple, investors may be less tolerant of slower growth, regulatory pressure and delays in AI products. Apple’s Immunity to Headwinds Is Fading
• Negative Sentiment: Reports that Apple is quietly shifting attention toward China add geopolitical and demand risk, while its substantial tax settlement and filings highlighting large profits routed through Ireland could renew regulatory scrutiny.
• Negative Sentiment: Senior Vice President Jennifer Newstead sold 1,439 shares under a prearranged Rule 10b5-1 plan. The transaction is relatively small and does not necessarily signal a change in fundamentals, but it provides a modest negative headline.

Apple Company 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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