Apple Inc. $AAPL Holdings Lowered by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 63,965 shares of the iPhone maker’s stock after selling 1,868 shares during the quarter. Apple accounts for about 5.0% of Indiana Trust & Investment Management Co’s holdings, making the stock its 3rd biggest holding. Indiana Trust & Investment Management Co’s holdings in Apple were worth $16,234,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake 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. State Street Corp increased its holdings in shares of Apple by 1.1% in the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after buying an additional 6,555,392 shares during the period. Geode Capital Management LLC lifted its stake in shares of Apple by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after acquiring an additional 1,866,103 shares during the last quarter. Morgan Stanley boosted its holdings in Apple by 0.6% during the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after acquiring an additional 1,379,651 shares during the period. Finally, Norges Bank purchased a new stake in Apple during the 4th quarter valued at about $52,266,468,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

AAPL opened at $333.74 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $4.90 trillion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock’s 50 day moving average price is $303.61 and its 200-day moving average price is $277.09. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $334.99.

Apple (NASDAQ:AAPL) last announced 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 during 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%.The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. On average, equities research analysts predict that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

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

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,924 shares of company stock worth $825,546 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AAPL shares. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, June 22nd. Monness Crespi & Hardt increased their price objective on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Rosenblatt Securities reissued a “neutral” rating and set a $276.00 price objective on shares of Apple in a research note on Tuesday, June 9th. Evercore restated an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. Finally, TD Cowen lifted their target price on shares of Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $318.43.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: HSBC upgraded Apple Inc. (NASDAQ: AAPL) to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees “strong cycle ahead”
• Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world’s most valuable company
• Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification

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.