Apple Inc. $AAPL is Private Trust Co. NA’s Largest Position

Private Trust Co. NA lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,311 shares of the iPhone maker’s stock after selling 4,679 shares during the quarter. Apple comprises approximately 3.3% of Private Trust Co. NA’s portfolio, making the stock its biggest position. Private Trust Co. NA’s holdings in Apple were worth $37,329,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Key Capital Management INC purchased a new position in Apple in the fourth quarter worth $1,948,000. Mirae Asset Global Investments Co. Ltd. raised its position in Apple by 10.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,226,979 shares of the iPhone maker’s stock worth $1,964,727,000 after acquiring an additional 696,388 shares in the last quarter. PDS Planning Inc raised its position in Apple by 5.6% in the fourth quarter. PDS Planning Inc now owns 130,608 shares of the iPhone maker’s stock worth $35,507,000 after acquiring an additional 6,914 shares in the last quarter. Baxter Bros Inc. raised its position in Apple by 1.5% in the fourth quarter. Baxter Bros Inc. now owns 27,675 shares of the iPhone maker’s stock worth $7,524,000 after acquiring an additional 398 shares in the last quarter. Finally, Forteris Wealth Management Inc. purchased a new position in Apple in the fourth quarter worth $5,042,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 96,485 shares of company stock valued at $24,594,845 over the last quarter. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus set a $330.00 price objective on Apple in a research report on Monday, March 2nd. KGI Securities upgraded Apple to an “outperform” rating and set a $306.00 price objective for the company in a research report on Friday, January 30th. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective (up from $350.00) on shares of Apple in a research report on Friday. Robert W. Baird set a $310.00 price objective on Apple in a research report on Friday, May 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.74.

Apple Stock Down 0.0%

Apple stock opened at $293.25 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06. Apple Inc. has a fifty-two week low of $193.46 and a fifty-two week high of $294.76. The stock’s fifty day moving average is $261.85 and its two-hundred day moving average is $266.04.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for 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%.The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. Analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is 12.58%.

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.