Whittier Trust Co. of Nevada Inc. Sells 26,010 Shares of Apple Inc. $AAPL

Whittier Trust Co. of Nevada Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,018,034 shares of the iPhone maker’s stock after selling 26,010 shares during the period. Apple comprises approximately 5.9% of Whittier Trust Co. of Nevada Inc.’s holdings, making the stock its 2nd largest position. Whittier Trust Co. of Nevada Inc.’s holdings in Apple were worth $316,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Rainier Family Wealth Inc. grew its holdings in 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 period. Eaton Cambridge Inc. boosted its holdings in shares of Apple by 21.3% in the 1st quarter. Eaton Cambridge Inc. now owns 13,968 shares of the iPhone maker’s stock valued at $3,545,000 after purchasing an additional 2,450 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Apple during the 4th quarter valued at $1,178,000. Summit Wealth Partners LLC increased its holdings in shares of Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after buying an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new position in Apple in the fourth quarter valued at $105,482,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s leadership handoff could support innovation: Ternus is a longtime hardware executive and product builder, while Cook will remain with Apple as executive chairman. Investors are also looking ahead to the company’s September 9 product event, which could feature new iPhones and other devices. Apple To Begin New Chapter With CEO John Ternus
• Positive Sentiment: Several reports highlight continuing operating strengths, including strong iPhone share, potential gains as global smartphone shipments weaken, robust recent earnings, and increased fiscal-year EPS estimates. Apple’s planned U.S. manufacturing and AI-server investment could also reduce tariff and supply-chain exposure. Global Phone Shipments Drop, but Apple Positioned for Record iOS Market Share Gain
• Neutral Sentiment: Cook’s departure is being viewed as both a successful succession plan and a major test. His final message endorsed Ternus and emphasized continuity, but investors will judge the new CEO quickly based on the fall product cycle, Siri and Apple’s broader AI strategy. John Ternus to lead Apple into the age of AI
• Negative Sentiment: Apple’s AI strategy remains a key concern because it relies substantially on outside partners while rivals are perceived as farther ahead. At the same time, veteran executive Phil Schiller relinquished oversight of the App Store and product events, adding uncertainty during the CEO change. Apple’s top App Store executive departs operational roles
• Negative Sentiment: Rising memory costs reportedly prompted significant Mac and iPad price increases, potentially pressuring demand. Apple also disclosed allegations in a trade-secret lawsuit that an OpenAI employee accessed a circuit schematic, creating legal and competitive-risk headlines. Apple alleges OpenAI employee accessed circuit plans
• Negative Sentiment: Monday’s wider market selloff, linked to escalating U.S.-Iran tensions, also weighed on large technology stocks and added pressure to AAPL.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Morgan Stanley lowered their price target on Apple from $364.00 to $360.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Oppenheimer restated a “market perform” rating on shares of Apple in a report on Friday, July 31st. DA Davidson reiterated a “neutral” rating and set a $270.00 price objective on shares of Apple in a research note on Friday, July 31st. HSBC raised Apple from a “hold” rating to a “buy” rating and upped their target price for the stock from $260.00 to $366.00 in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada set a $365.00 price target on shares of Apple in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.53.

Insiders Place Their Bets

In related news, SVP Jennifer Newstead sold 1,439 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $310.95, for a total value of $447,457.05. Following the completion of the transaction, the senior vice president owned 37,229 shares in the company, valued at $11,576,357.55. This represents a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ben Borders sold 116 shares of the firm’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 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 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 4,433 shares of company stock worth $1,367,024 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $316.85 on Tuesday. Apple Inc. has a 12 month low of $225.95 and a 12 month high of $344.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The company has a market cap of $4.62 trillion, a P/E ratio of 36.34, a PEG ratio of 2.74 and a beta of 1.09. The stock has a fifty day moving average price of $312.63 and a 200 day moving average price of $288.83.

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

Apple Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s dividend payout ratio (DPR) is 12.39%.

Apple 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.