Apple Inc. $AAPL Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,967,095 shares of the iPhone maker’s stock after selling 119,220 shares during the quarter. Apple comprises about 2.8% of PNC Financial Services Group Inc.’s portfolio, making the stock its 3rd biggest position. PNC Financial Services Group Inc.’s holdings in Apple were worth $4,813,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Norges Bank acquired a new stake in Apple in the 4th quarter valued at $52,266,468,000. Nuveen LLC acquired a new position in Apple during the first quarter worth $17,472,482,000. Cardano Risk Management B.V. raised its holdings in Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock worth $11,413,990,000 after buying an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC lifted its stake in shares of Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after buying an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AAPL shares. Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating in a report on Monday. Wedbush reissued an “outperform” rating and set a $400.00 price objective on shares of Apple in a report on Friday, June 5th. KeyCorp reissued an “underweight” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, July 28th. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Friday, April 17th. Finally, HSBC raised Apple from a “hold” rating to a “buy” rating and lifted their target price for the company from $260.00 to $366.00 in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $330.44.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: App Store revenue rose 0.6% year over year to $3.4 billion during the first 35 days of Apple’s fiscal fourth quarter, despite a 4% decline in iPhone and iPad downloads. Revenue per download increased 4.7% to $1.02, suggesting stronger monetization and supporting the Services business. Apple App Store revenue ticks up despite falling downloads
• Positive Sentiment: Apple’s fiscal third-quarter revenue reached a June-quarter record of $109.4 billion, up 16% year over year, while earnings exceeded estimates. Reports also point to broad iPhone, Mac and Services demand, resilient iPhone sales and continued growth in India, providing a fundamental counterweight to recent market concerns. Apple’s Quarterly iPhone Sales Were Even Better Than They Seem
• Positive Sentiment: Some analysts and market commentators continue to recommend buying the pullback, arguing that Apple’s ecosystem, product pipeline and long-term earnings potential remain attractive despite near-term volatility. 3 Reasons to Buy Apple Stock on the Dip
• Neutral Sentiment: OpenAI asked a federal judge to dismiss Apple’s trade-secrets lawsuit, denying that it misappropriated confidential information through former Apple employees. The filing creates legal and reputational uncertainty, although the financial impact is not yet clear. OpenAI asks US judge to dismiss Apple’s trade secrets case
• Negative Sentiment: Analysts at Phillip Securities, DZ Bank and China Renaissance lowered their views on Apple to Moderate Sell or Hold. Concerns include slowing Services growth, elevated memory costs, supply constraints, policy risks and Apple’s premium valuation.
• Negative Sentiment: Services revenue grew about 12% to $30.7 billion, making it the slowest-growing of Apple’s three largest businesses. Tim Cook also warned that rising memory prices could pressure margins, while the CEO transition adds uncertainty after a record quarter. Tim Cook’s Last Quarter as CEO

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was 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 in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $312.41 on Friday. Apple Inc. has a fifty-two week low of $216.58 and a fifty-two week high of $344.57. The firm has a 50-day moving average of $309.43 and a 200 day moving average of $283.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. The firm has a market cap of $4.56 trillion, a P/E ratio of 35.83, a PEG ratio of 2.67 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 earnings per share. On average, research analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Dividend Announcement

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

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.