Trust Co of the South Has $27.19 Million Stake in Apple Inc. $AAPL

Trust Co of the South lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,977 shares of the iPhone maker’s stock after selling 2,181 shares during the quarter. Apple accounts for approximately 3.8% of Trust Co of the South’s holdings, making the stock its 8th largest holding. Trust Co of the South’s holdings in Apple were worth $27,193,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC raised its stake 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 worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in Apple in the fourth quarter valued at $65,000. Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at about $69,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the fourth quarter valued at approximately $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Jennifer Newstead sold 1,439 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $307.75, for a total transaction of $442,852.25. Following the completion of the sale, the senior vice president directly owned 40,107 shares of the company’s stock, valued at $12,342,929.25. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 stock opened at $305.59 on Tuesday. Apple Inc. has a 12-month low of $223.78 and a 12-month high of $344.57. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $309.06 and its 200 day simple moving average is $285.73. The firm has a market cap of $4.46 trillion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. On average, analysts expect that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s dividend payout ratio is 12.39%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Rothschild & Co. Redburn upgraded Apple to Buy from Neutral and raised its price target to $400 from $260. The firm cited potential growth from a premium foldable iPhone and a strategic reset of Apple Intelligence, while suggesting Apple could use Nvidia’s open-source AI models to improve its position. Apple Stock Got an Upgrade. It Could Be the AI Gatekeeper.
• Positive Sentiment: Antitrust relief removes a legal overhang. Apple reportedly won significant relief in an antitrust battle, potentially reducing regulatory risk around its App Store and business practices. Apple Wins Major Relief in Antitrust Battle
• Positive Sentiment: Pre-iPhone event demand appears supportive. A KeyBanc survey indicated improving consumer spending ahead of Apple’s expected September product launch, providing a potential near-term catalyst for iPhone sales. Why Investors Should Consider Buying Apple Stock Ahead of Its September iPhone Event
• Neutral Sentiment: Apple is changing European app-tracking consent rules following a German competition investigation. The changes may benefit Meta and advertisers, but could reduce some of Apple’s control over data-related monetization. Apple to change app data consent rules, German regulator says
• Negative Sentiment: Memory-chip sourcing is a growing risk. The Trump administration urged Apple not to buy Chinese memory chips because of national-security concerns. Complying could raise component costs, while defying the request could create political or supply-chain complications. Apple May Buy Chinese Memory Chips Despite US Request
• Negative Sentiment: Valuation and execution concerns remain. At roughly $306 and about 35 times earnings, bearish commentary argues that much of Apple’s quality is already reflected in the price and that AI progress may not justify a higher multiple. Apple’s Red Flags Are Real and Signal Trouble
• Negative Sentiment: Security and App Store-management reports add reputational risk. Investigators reported an unusually large number of spyware alerts affecting Apple users, while DefiLlama said fake apps delayed its launch. Apple has also patched a critical macOS flaw exploited for cryptocurrency mining. Unprecedented number of Apple users received recent spyware alert

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. HSBC raised shares of Apple from a “hold” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $366.00 in a report on Thursday, July 16th. Barclays reissued an “underweight” rating and set a $245.00 target price (down from $253.00) on shares of Apple in a report on Friday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 31st. Oppenheimer reissued a “market perform” rating on shares of Apple in a research note on Friday, July 31st. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $330.53.

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.