Texas Bank & Trust Co Sells 2,279 Shares of Apple Inc. $AAPL

Texas Bank & Trust Co reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,185 shares of the iPhone maker’s stock after selling 2,279 shares during the quarter. Apple accounts for about 6.3% of Texas Bank & Trust Co’s investment portfolio, making the stock its largest holding. Texas Bank & Trust Co’s holdings in Apple were worth $16,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the 4th quarter worth about $41,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management bought a new stake in shares of Apple during the 4th quarter valued at about $65,000. Timmons Wealth Management LLC acquired a new stake in Apple during the fourth quarter worth about $69,000. Finally, 49 Wealth Management LLC raised its stake in Apple by 15.7% during the third quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock worth $76,000 after acquiring an additional 40,543 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of Apple stock in a transaction 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 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 position. The sale was disclosed in a legal 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.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford will integrate Apple Maps and Apple software into upcoming lower-cost EVs and self-driving features, expanding Apple’s automotive footprint and creating another potential platform for its services ecosystem. Ford Will Use Apple Software in New Self-Driving System
• Positive Sentiment: Reports that Apple is preparing a smarter shopping assistant for the App Store and testing a more AI-driven buying experience suggest new ways to improve commerce, engagement, and monetization across its ecosystem. Apple Tests Smarter Shopping Experience
• Positive Sentiment: Wall Street sentiment remains constructive in places, with Morgan Stanley reportedly raising its Apple target and several pieces arguing Apple could be an underappreciated AI beneficiary as it readies new Macs, iMacs, and other hardware built for AI demand. Apple Plans To Overhaul Computers to Meet AI Demand
• Neutral Sentiment: Samsung’s new foldables and the broader “AI hardware” race are keeping Apple in the spotlight, but the news is mostly competitive context rather than a direct near-term catalyst.
• Negative Sentiment: Apple lost a key court bid, leaving a $634 million Apple Watch blood-oxygen patent verdict in place, which keeps legal overhangs alive and could raise investor concern about additional costs or product restrictions. Apple Fails to Overturn $634 Million Masimo Verdict
• Negative Sentiment: Multiple market notes point to Apple’s valuation being rich and the stock being vulnerable to volatility into earnings, with some analysts warning that momentum may be peaking after a strong run.

Apple Price Performance

NASDAQ AAPL opened at $321.66 on Friday. The company has a 50-day moving average price of $305.96 and a two-hundred day moving average price of $278.63. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $334.99. The stock has a market cap of $4.72 trillion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 2.81 and a beta of 1.10. 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 (NASDAQ:AAPL) last released its quarterly earnings results 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 company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. Analysts forecast that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore restated an “outperform” rating on shares of Apple in a research note on Wednesday, July 8th. Citigroup reiterated a “buy” rating and set a $365.00 price target (up from $315.00) on shares of Apple in a research report on Monday, July 13th. Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. DA Davidson restated a “neutral” rating and set a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Finally, Barclays restated an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.83.

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.