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

Independence Bank of Kentucky lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,073 shares of the iPhone maker’s stock after selling 3,407 shares during the period. Apple comprises about 3.7% of Independence Bank of Kentucky’s portfolio, making the stock its 3rd largest holding. Independence Bank of Kentucky’s holdings in Apple were worth $29,458,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Overbrook Management Corp raised its holdings in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after acquiring an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. boosted its stake in shares of Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after acquiring an additional 3,014 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $1,178,000. Summit Wealth Partners LLC increased its position in shares of Apple by 108.3% during the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after purchasing an additional 18,188 shares in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new position in Apple in the 4th quarter valued at $105,482,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred 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 sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company’s stock.

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.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Royal Bank Of Canada set a $365.00 price objective on Apple in a report on Wednesday, July 15th. HSBC raised shares of Apple from a “hold” rating to a “buy” rating and upped their target price for the stock from $260.00 to $366.00 in a report on Thursday, July 16th. Tigress Financial restated 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. Oppenheimer reaffirmed a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $327.40.

Apple Trading Up 3.5%

Shares of AAPL stock opened at $333.02 on Friday. 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 twelve month low of $201.50 and a twelve month high of $334.99. The company’s 50-day moving average price is $306.62 and its 200-day moving average price is $279.01. The stock has a market cap of $4.89 trillion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.78 and a beta of 1.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the business earned $1.65 earnings per share. Apple’s revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

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

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.