Apple Inc. $AAPL Shares Sold by Trust Asset Management LLC

Trust Asset Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 163,144 shares of the iPhone maker’s stock after selling 4,448 shares during the period. Trust Asset Management LLC’s holdings in Apple were worth $47,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rainier Family Wealth Inc. increased its stake 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 buying an additional 3,014 shares during the period. Eaton Cambridge Inc. lifted its holdings in Apple by 21.3% during the first quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker’s stock worth $3,545,000 after acquiring an additional 2,450 shares in the last quarter. Torren Management LLC bought a new stake in shares of Apple in the fourth quarter valued at about $1,178,000. Summit Wealth Partners LLC lifted its holdings in shares of Apple by 108.3% in the first 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 in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in shares of Apple in the fourth quarter valued at about $105,482,000. Institutional investors own 67.73% of the company’s stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Orderly CEO succession: Tim Cook is leaving the CEO role after 15 years but will remain Apple’s executive chairman. Cook strongly endorsed successor John Ternus, a longtime hardware leader, potentially reducing fears of an abrupt management break. Tim Cook’s parting message: Apple is in the hands of a product builder
• Positive Sentiment: Product catalysts ahead: Apple’s first major product event under Ternus is expected September 9, with reports pointing to new iPhones and a possible foldable model. Strong iPhone demand, potential iOS market-share gains and rising interest in Mac hardware for AI workloads could support future revenue. Apple Valuation Nears $5T as John Ternus Steps Up as New CEO
• Neutral Sentiment: Strong track record and support: Cook’s tenure produced substantial shareholder gains, while Apple’s latest quarter delivered revenue growth and an earnings beat. Analysts’ median price target remains above the current quotation, although the stock’s elevated valuation leaves less room for disappointment.
• Negative Sentiment: AI strategy concerns: Ternus inherits an artificial-intelligence strategy that relies heavily on outside partners, leaving Apple behind leading rivals in some areas. Investors will look for evidence that the new CEO can accelerate AI-powered Siri and on-device capabilities. Apple’s New CEO Inherits an AI Strategy Built on Outsiders
• Negative Sentiment: Execution and valuation risks: Commentators warn that App Store pressure, supply-chain challenges, potential memory-cost inflation and a trailing P/E near 37 make Apple vulnerable if the September launch disappoints. Apple TV+’s latest price increase could also slow subscriber growth. Apple Is Facing One of Its Most Challenging Times in a Decade

Apple Stock Down 1.9%

Shares of AAPL traded down $6.07 during trading hours on Monday, hitting $313.63. The stock had a trading volume of 15,356,139 shares, compared to its average volume of 49,963,801. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $312.24 and a 200-day simple moving average of $288.52. The firm has a market capitalization of $4.58 trillion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. Apple Inc. has a 1-year low of $225.95 and a 1-year high of $344.57.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The business 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 company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. Sell-side analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 12.39%.

Insider Activity at Apple

In other Apple news, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total transaction of $447,457.05. Following the transaction, the senior vice president owned 37,229 shares of the company’s stock, valued at $11,576,357.55. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 4,433 shares of company stock worth $1,367,024. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $400.00 target price on shares of Apple in a report on Friday, June 5th. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Morgan Stanley lowered their price target on Apple from $364.00 to $360.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Rosenblatt Securities upped their target price on Apple from $276.00 to $300.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, UBS Group reaffirmed a “neutral” rating on shares of Apple in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $330.53.

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.