Glenview Trust Co Decreases Position in Apple Inc. $AAPL

Glenview Trust Co decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,068,348 shares of the iPhone maker’s stock after selling 4,402 shares during the period. Apple accounts for 4.5% of Glenview Trust Co’s portfolio, making the stock its 2nd largest position. Glenview Trust Co’s holdings in Apple were worth $290,441,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Reyes Financial Architecture Inc. boosted its holdings in Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC boosted its holdings in Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after acquiring an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. boosted its holdings in Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after acquiring an additional 40 shares during the last quarter. American Alpha Advisors LLC boosted its holdings in Apple by 3.7% in the third quarter. American Alpha Advisors LLC now owns 1,151 shares of the iPhone maker’s stock valued at $293,000 after acquiring an additional 41 shares during the last quarter. Finally, Seven Springs Wealth Group LLC boosted its holdings in Apple by 0.3% in the third quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock valued at $3,934,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Tigress Financial reiterated a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. UBS Group restated a “neutral” rating on shares of Apple in a report on Wednesday. Citigroup restated a “buy” rating on shares of Apple in a report on Monday, June 1st. TD Cowen restated a “buy” rating and set a $335.00 target price (up from $325.00) on shares of Apple in a report on Friday, May 1st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.82.

Apple Price Performance

Shares of AAPL opened at $307.34 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 1 year low of $195.07 and a 1 year high of $316.94. The stock has a market cap of $4.51 trillion, a P/E ratio of 37.16, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The stock’s 50-day moving average price is $281.39 and its two-hundred day moving average price is $271.39.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company 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%.Apple’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share. On average, equities analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is 13.06%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s WWDC keynote is expected to highlight a revamped Siri, Apple Intelligence updates, and a broader AI strategy, which could act as a near-term catalyst if the company shows meaningful progress. Will WWDC Drive Apple Stock (AAPL) Higher? Here’s What Analysts Expect
• Positive Sentiment: Analysts remain constructive, with Citi reiterating a Buy and Wedbush reaffirming Outperform with a $400 target, citing Apple’s AI inflection point and resilient iPhone fundamentals. Asiya Merchant Reiterates Buy on Apple, Citing AI Strategy Inflection and Resilient iPhone Fundamentals
• Positive Sentiment: Apple’s App Store update showed $1.4 trillion in sales and billings last year, reinforcing the scale of its Services ecosystem even as most transactions did not carry a commission. Apple touts $1.4 trillion in App Store billings and sales, 90% without a commission
• Positive Sentiment: Foxconn raised its second-quarter outlook, a constructive signal for Apple’s supply chain and iPhone demand, since Foxconn is Apple’s top iPhone assembler. Taiwan’s Foxconn raises guidance for second-quarter outlook
• Neutral Sentiment: Reports that Apple may rely on Google cloud infrastructure and Nvidia chips to power a redesigned Siri suggest the company is prioritizing speed to market, but they also underscore that Apple is leaning on outside partners for its AI push. Apple Taps Google to Prep Siri For September Revamp
• Negative Sentiment: Some coverage warns that Apple still faces a high bar to justify its valuation, and UBS noted decelerating App Store growth could pressure the Services growth story if AI execution disappoints. Investors Should Worry About Apple’s (AAPL) Decelerating App Store Growth, Says UBS

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares of the company’s stock, valued at $34,934,433.50. This trade represents a 17.99% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was 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. This represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by company insiders.

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.