Nixon Peabody Trust Co. Sells 2,418 Shares of Apple Inc. $AAPL

Nixon Peabody Trust Co. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,516 shares of the iPhone maker’s stock after selling 2,418 shares during the quarter. Apple makes up about 4.9% of Nixon Peabody Trust Co.’s investment portfolio, making the stock its 4th largest position. Nixon Peabody Trust Co.’s holdings in Apple were worth $69,596,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. MontVue Capital Management Inc. boosted its holdings in Apple by 74.3% during the second quarter. MontVue Capital Management Inc. now owns 4,474 shares of the iPhone maker’s stock worth $1,295,000 after buying an additional 1,907 shares during the last quarter. Generate Investment Management Ltd raised its stake in Apple by 2.8% during the 2nd quarter. Generate Investment Management Ltd now owns 420,426 shares of the iPhone maker’s stock worth $121,654,000 after buying an additional 11,383 shares during the period. Valley Brook Capital Group Inc. grew its position in shares of Apple by 1.2% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 43,403 shares of the iPhone maker’s stock valued at $12,559,000 after purchasing an additional 495 shares during the period. Independent Wealth Advisors LLC boosted its holdings in shares of Apple by 3.0% in the second quarter. Independent Wealth Advisors LLC now owns 4,574 shares of the iPhone maker’s stock valued at $1,324,000 after buying an additional 132 shares during the period. Finally, Ascentis Wealth Management LLC raised its holdings in shares of Apple by 27,622.7% during the second quarter. Ascentis Wealth Management LLC now owns 8,788,371 shares of the iPhone maker’s stock worth $2,543,003,000 after acquiring an additional 8,756,670 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Apple stock traded down $5.57 during mid-day trading on Monday, reaching $314.13. 15,789,602 shares of the company were exchanged, compared to its average volume of 49,966,969. The company has a fifty day simple moving average of $312.24 and a 200-day simple moving average of $288.52. The firm has a market cap of $4.58 trillion, a PE ratio of 36.02, a PEG ratio of 2.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 12 month low of $225.95 and a 12 month high of $344.57.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 EPS. As a group, equities research analysts expect that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Rothschild & Co Redburn set a $400.00 target price on Apple and gave the company a “buy” rating in a research report on Monday, August 17th. Raymond James Financial reaffirmed a “market perform” rating on shares of Apple in a research report on Friday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 31st. Evercore reiterated an “outperform” rating on shares of Apple in a research note on Tuesday, August 25th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $330.53.

More Apple News

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

Insider Buying and Selling

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

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.