London Co. of Virginia Cuts Holdings in Apple Inc. $AAPL

London Co. of Virginia reduced its stake in Apple Inc. (NASDAQ:AAPL) by 6.0% in the first quarter, HoldingsChannel.com reports. The fund owned 2,269,872 shares of the iPhone maker’s stock after selling 145,948 shares during the quarter. Apple accounts for 3.5% of London Co. of Virginia’s portfolio, making the stock its biggest position. London Co. of Virginia’s holdings in Apple were worth $576,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in AAPL. Rainier Family Wealth Inc. lifted its position in shares of Apple by 14.1% in the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after acquiring an additional 3,014 shares in the last quarter. Eaton Cambridge Inc. grew its position in Apple by 21.3% during the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker’s stock worth $3,545,000 after purchasing an additional 2,450 shares in the last quarter. Torren Management LLC acquired a new stake in Apple during the 4th quarter valued at $1,178,000. Summit Wealth Partners LLC raised its stake in Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after purchasing an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp purchased a new stake in shares of Apple in the fourth quarter valued at $105,482,000. 67.73% of the stock is owned by institutional investors.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is testing memory chips from China’s CXMT for some iPhones and MacBooks sold in China. If approved by U.S. authorities, the move could provide an additional supply source and help mitigate shortages caused by surging AI-related demand. Apple tests China’s CXMT memory chips
• Positive Sentiment: Some Apple-focused investors, including Deepwater Asset Management’s Gene Munster, argue that the shares remain undervalued and that future iPhone price increases, artificial-intelligence features and a potential upgrade cycle could support longer-term growth. Gene Munster disagrees with Apple downgrade
• Neutral Sentiment: Apple is scheduled to pay a quarterly dividend of $0.27 per share on August 13 to eligible shareholders, providing a modest near-term shareholder return. Apple dividend payment
• Negative Sentiment: Jefferies downgraded Apple from Hold to Underperform and cut its price target to $263.66 from $285.56. Analyst Edison Lee reportedly believes Apple has scrapped a planned all-glass iPhone because of production challenges, removing a potential premium product that could have lifted average selling prices and profitability. Apple could underperform without an all-glass iPhone
• Negative Sentiment: Memory and storage costs are rising sharply amid the AI-driven supply crunch; reports suggest iPhone 18 production costs could increase by roughly 38%. Apple may need to raise prices, risking weaker demand, or absorb the costs, pressuring margins. Apple’s iPhone 18 costs could jump 38%
• Negative Sentiment: The CXMT testing also introduces geopolitical and execution risks: U.S. restrictions could limit Apple’s access to the supplier, while CXMT’s capacity and technology may lag established memory manufacturers. These issues add uncertainty to Apple’s supply chain and pricing strategy.

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by insiders.

Apple Trading Down 1.6%

Shares of NASDAQ AAPL opened at $308.26 on Tuesday. The business has a 50 day simple moving average of $309.49 and a 200 day simple moving average of $283.86. Apple Inc. has a 52 week low of $223.78 and a 52 week high of $344.57. The stock has a market cap of $4.50 trillion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL) last posted 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. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is currently 12.39%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAPL. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Apple in a research report on Friday, July 31st. Jefferies Financial Group downgraded Apple from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $285.56 to $263.66 in a research note on Monday. Rosenblatt Securities raised their price objective on Apple from $276.00 to $300.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Morgan Stanley lowered their target price on Apple from $364.00 to $360.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, DZ Bank lowered shares of Apple from a “buy” rating to a “hold” rating and set a $310.00 price target for the company. in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $328.60.

About Apple

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.