Whittier Trust Co. of Nevada Inc. Has $270.26 Million Holdings in Apple Inc. $AAPL

Whittier Trust Co. of Nevada Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,044,044 shares of the iPhone maker’s stock after selling 43,780 shares during the period. Apple accounts for 5.5% of Whittier Trust Co. of Nevada Inc.’s portfolio, making the stock its 2nd largest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Apple were worth $270,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Overbrook Management Corp lifted its position in Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after acquiring an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. grew its position 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 valued at $6,189,000 after purchasing an additional 3,014 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Apple in the fourth quarter valued at about $1,178,000. Summit Wealth Partners LLC increased its stake in shares of Apple by 108.3% in 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 during the period. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple in the fourth quarter worth about $105,482,000. Institutional investors own 67.73% of the company’s stock.

Apple Trading Up 0.1%

Apple stock opened at $333.74 on Friday. The business has a 50 day moving average price of $303.61 and a two-hundred day moving average price of $277.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $334.99. The stock has a market cap of $4.90 trillion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 2.90 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion for 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%.Apple’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. As a group, equities analysts forecast that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

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

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Rosenblatt Securities restated a “neutral” rating and set a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. TD Cowen lifted their price target on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Evercore reiterated an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. Bank of America reissued a “buy” rating and issued a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. Finally, Barclays restated an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $318.43.

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ben Borders sold 116 shares of the stock in a transaction 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 completion of the transaction, the insider 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 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 sold a total of 2,924 shares of company stock worth $825,546 in the last three months. Insiders own 0.06% of the company’s stock.

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.