Apple Inc. $AAPL Stake Cut by Independence Bank of Kentucky

Independence Bank of Kentucky cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,073 shares of the iPhone maker’s stock after selling 3,407 shares during the period. Apple accounts for approximately 3.7% of Independence Bank of Kentucky’s investment portfolio, making the stock its 3rd biggest holding. Independence Bank of Kentucky’s holdings in Apple were worth $29,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. First National Bank of Hutchinson increased its position in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its holdings in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC boosted its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its stake in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $333.02 on Friday. The business’s 50-day moving average is $306.62 and its two-hundred day moving average is $279.01. The company has a market capitalization of $4.89 trillion, a P/E ratio of 40.27, a P/E/G ratio of 2.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $334.99.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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%.The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. Research analysts predict that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is 13.06%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Insider Transactions at Apple

In other Apple news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $276.00 price objective on shares of Apple in a research report on Tuesday, June 9th. Monness Crespi & Hardt upped their price target on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Friday, April 17th. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price objective for the company. in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $327.40.

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.