Evercore Wealth Management LLC Cuts Holdings in Apple Inc. $AAPL

Evercore Wealth Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,504,338 shares of the iPhone maker’s stock after selling 72,216 shares during the quarter. Apple accounts for about 6.0% of Evercore Wealth Management LLC’s investment portfolio, making the stock its biggest holding. Evercore Wealth Management LLC’s holdings in Apple were worth $381,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Mittelman Wealth Management grew its stake in shares of Apple by 44.8% during the 1st quarter. Mittelman Wealth Management now owns 2,013 shares of the iPhone maker’s stock worth $511,000 after acquiring an additional 623 shares in the last quarter. Excelsior Advisor Network LLC lifted its position in shares of Apple by 29.6% in the first quarter. Excelsior Advisor Network LLC now owns 29,545 shares of the iPhone maker’s stock worth $7,498,000 after purchasing an additional 6,751 shares in the last quarter. Clough Capital Partners L P lifted its position in shares of Apple by 34.2% in the first quarter. Clough Capital Partners L P now owns 152,956 shares of the iPhone maker’s stock worth $38,819,000 after purchasing an additional 39,004 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Apple by 11.7% during the first quarter. Lazard Asset Management LLC now owns 8,235,113 shares of the iPhone maker’s stock worth $2,089,989,000 after purchasing an additional 865,600 shares during the last quarter. Finally, ABS Direct Equity Fund LLC acquired a new position in Apple during the first quarter worth $360,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AAPL shares. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 31st. Raymond James Financial reiterated a “market perform” rating on shares of Apple in a report on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and set a $360.00 price target (down from $370.00) on shares of Apple in a research report on Friday, July 31st. Barclays restated an “underweight” rating and issued a $245.00 price target (down from $253.00) on shares of Apple in a research note on Friday, July 31st. Finally, Weiss Ratings raised Apple from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $328.60.

Apple Price Performance

NASDAQ:AAPL opened at $304.91 on Wednesday. Apple Inc. has a 12-month low of $223.78 and a 12-month high of $344.57. The firm has a market capitalization of $4.45 trillion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 2.64 and a beta of 1.09. The stock’s 50 day moving average price is $309.28 and its two-hundred day moving average price is $284.26. 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 (NASDAQ:AAPL) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 EPS. On average, analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 12.39%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s latest quarter was its strongest June quarter on record, with revenue rising 16.4% year over year to $109.42 billion and earnings per share of $2.02, ahead of Wall Street expectations. Some investors and analysts, including Gene Munster, view the recent weakness as an attractive accumulation opportunity and anticipate a substantial iPhone upgrade cycle. Apple’s Dip Below $310 is a Great Accumulation Opportunity
• Positive Sentiment: Apple is reportedly exploring alternative memory suppliers, including China’s CXMT, as artificial-intelligence demand tightens global DRAM supplies. Diversifying procurement could help reduce shortages and limit production disruptions, although U.S. restrictions may constrain the opportunity. Apple tests China’s CXMT memory chips
• Neutral Sentiment: Apple is participating in efforts to make AI-generated content traceable, potentially strengthening platform trust and content provenance over time. The initiative is strategically relevant but is unlikely to materially affect near-term earnings. Tech’s Big Push to Make AI Content Traceable
• Neutral Sentiment: Apple Pay and Wallet chief Jennifer Bailey is retiring, creating another senior leadership transition. The impact depends on the successor and execution in financial services. Jennifer Bailey retires
• Negative Sentiment: Jefferies downgraded AAPL from Hold to Underperform and cut its price target to $263.66 from $285.56. The firm cited supply-chain checks suggesting Apple may have abandoned a high-end all-glass iPhone, weakening the case for significantly higher average selling prices. Bloomberg separately reported that the 2027 device may still be on track, leaving uncertainty rather than confirmation. Jefferies downgrades Apple
• Negative Sentiment: Surging memory and storage costs could raise iPhone production expenses by roughly 38%, forcing Apple to choose between higher prices that could pressure demand and lower margins. Reports that iPhone prices have already increased by as much as $300 are intensifying concerns about consumer affordability and pricing power. Apple’s Next iPhone Could Test Pricing Power
• Negative Sentiment: Analyst confidence has cooled despite strong revenue growth, with investors questioning whether Apple can sustain premium-device growth at its roughly $4.45 trillion valuation, particularly as Nvidia and other AI leaders capture more market enthusiasm.

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 116 shares of Apple 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 completion of the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

Apple 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.