Washington Trust Advisors Inc. Sells 14,715 Shares of Apple Inc. $AAPL

Key Points

• Washington Trust Advisors reduced its Apple position by 5.2%, selling 14,715 shares in the second quarter and retaining 266,099 shares valued at approximately $77 million. Apple remains the firm’s third-largest holding and represents about 5.7% of its portfolio.
• Institutional sentiment was mixed: several investment firms increased their Apple holdings, while hedge funds and other institutions collectively own 67.73% of the company’s shares.
• Apple shares were trading near record highs at $340.42, but analysts continue to flag valuation, margin, and AI-execution risks. The stock has a “Moderate Buy” consensus rating with an average price target of $340.02, while recent insider sales were primarily attributed to tax-withholding obligations.

Washington Trust Advisors Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,099 shares of the iPhone maker's stock after selling 14,715 shares during the period. Apple accounts for about 5.7% of Washington Trust Advisors Inc.'s portfolio, making the stock its 3rd largest holding. Washington Trust Advisors Inc.'s holdings in Apple were worth $76,998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Ameritas Advisory Services LLC boosted its stake in shares of Apple by 41.8% in the second quarter. Ameritas Advisory Services LLC now owns 430,305 shares of the iPhone maker's stock worth $124,513,000 after acquiring an additional 126,894 shares during the last quarter. Trevian Wealth Management LLC raised its stake in Apple by 3.3% in the 2nd quarter. Trevian Wealth Management LLC now owns 7,782 shares of the iPhone maker's stock valued at $2,252,000 after purchasing an additional 249 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its stake in Apple by 35.5% in the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 7,267 shares of the iPhone maker's stock valued at $2,103,000 after purchasing an additional 1,905 shares during the last quarter. Wedmont Private Capital lifted its holdings in Apple by 5.8% in the 2nd quarter. Wedmont Private Capital now owns 301,877 shares of the iPhone maker's stock valued at $95,188,000 after purchasing an additional 16,505 shares in the last quarter. Finally, Kintra Wealth LLC lifted its holdings in Apple by 30.4% in the 2nd quarter. Kintra Wealth LLC now owns 133,385 shares of the iPhone maker's stock valued at $40,717,000 after purchasing an additional 31,081 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: AI monetization opportunity: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by leveraging more than 2.5 billion active devices and its Services ecosystem. He sees the opportunity adding as much as $75 per share to Apple’s valuation. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple is expected to unveil new connected-home products, potentially including a doorbell, thermostat, lock and other accessories developed with LG Electronics, at its October 13 “Welcome Home” event. The initiative could broaden Apple’s hardware and Services opportunity while strengthening HomeKit against Amazon and Google. Apple Smart Home Push
• Positive Sentiment: M&A leadership change: Apple appointed veteran insider Steve Smith as head of mergers and acquisitions, replacing Adrian Perica, who is moving to the Services division. Investors may view the change as support for a more active acquisition strategy and tighter alignment between dealmaking and Services growth. Apple Names Steve Smith New M&A Chief
• Positive Sentiment: Tokenized-stock exposure: Securitize launched tokenized versions of Apple and 11 other major U.S. stocks on Solana. The offering could increase visibility for Apple’s shares and reflects broader demand for digital access to large-cap equities, although the direct financial effect on Apple is limited. Securitize Launches Tokenized U.S. Equities
• Neutral Sentiment: Management is pursuing faster execution: CEO John Ternus is reportedly considering more frequent product releases and fewer management layers. The changes could improve innovation, but commentary also highlights that Siri and Apple’s AI execution remain areas where investors want faster progress. Apple Is Speeding Up, Siri Isn’t
• Negative Sentiment: Valuation and margin risks: Apple trades at a premium earnings multiple after a strong year-to-date advance. Morgan Stanley lowered its price target to $355 despite raising revenue estimates, citing softer iPhone pricing and higher memory-chip costs. Bank of America also warned that Meta’s AI developments could challenge Apple’s Services ecosystem. Morgan Stanley Is Bullish on Apple With a Catch
• Negative Sentiment: Insider selling and concentration concerns: Senior Vice President Jennifer Newstead sold 2,399 shares, a relatively small transaction that may nevertheless add to investor caution. Separately, Apple’s huge weighting in the S&P 500 leaves index investors vulnerable if the stock or other mega-cap technology shares retreat. Apple Insider Transaction Filing

Insider Activity at Apple

In related news, CEO John Ternus sold 25,412 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $332.94, for a total transaction of $8,460,671.28. Following the completion of the transaction, the chief executive officer owned 59,567 shares of the company's stock, valued at approximately $19,832,236.98. This trade represents a 29.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total transaction of $15,467,020.38. Following the completion of the sale, the senior vice president owned 136,810 shares of the company's stock, valued at $45,615,190.20. This trade represents a 25.32% decrease in their position. 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. In the last quarter, insiders have sold 279,383 shares of company stock valued at $92,912,517. 0.06% of the stock is owned by insiders.

Apple Trading Up 1.1%

Shares of Apple stock opened at $340.42 on Friday. The firm has a market capitalization of $4.97 trillion, a price-to-earnings ratio of 39.04, a PEG ratio of 2.68 and a beta of 1.07. Apple Inc. has a fifty-two week low of $243.42 and a fifty-two week high of $345.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a 50 day moving average of $322.06 and a 200 day moving average of $302.76.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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 for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. The company's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced 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 yield of 0.3%. Apple's dividend payout ratio is presently 12.39%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AAPL shares. Moffett Nathanson reaffirmed a "neutral" rating and set a $304.00 target price (up from $270.00) on shares of Apple in a report on Tuesday, September 8th. HSBC reissued a "buy" rating and issued a $366.00 price target on shares of Apple in a research note on Tuesday, September 8th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $303.00 price objective on shares of Apple in a research note on Thursday, September 10th. The Goldman Sachs Group started coverage on shares of Apple in a report on Monday, August 17th. They issued a "buy" rating for the company. Finally, Raymond James Financial reissued a "market perform" rating on shares of Apple in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $340.02.

Apple Company Profile

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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