W.G. Shaheen & Associates DBA Whitney & Co Has $145.08 Million Stake in Apple Inc. $AAPL

W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 571,663 shares of the iPhone maker’s stock after acquiring an additional 1,945 shares during the quarter. Apple accounts for approximately 12.1% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Apple were worth $145,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Rainier Family Wealth Inc. lifted its position in shares of Apple by 14.1% during the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after buying an additional 3,014 shares in the last quarter. Torren Management LLC purchased a new position in shares of Apple in the 4th quarter worth approximately $1,178,000. Summit Wealth Partners LLC grew its holdings 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 valued at $8,880,000 after acquiring an additional 18,188 shares in the last quarter. Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple in the fourth quarter valued at approximately $105,482,000. Finally, KBC Group NV increased its position in shares of Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock valued at $1,915,172,000 after acquiring an additional 214,215 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank Of Canada set a $365.00 price target on Apple in a report on Wednesday, July 15th. Monness Crespi & Hardt upped 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. DA Davidson reaffirmed a “neutral” rating and set a $270.00 target price on shares of Apple in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $400.00 target price on shares of Apple in a research note on Friday, June 5th. Finally, BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $331.60.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $308.91 on Friday. The business’s 50 day simple moving average is $309.51 and its 200 day simple moving average is $281.45. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $344.57. The company has a market cap of $4.54 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.88 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a return on equity of 142.29% and a net margin of 27.62%.The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the business posted $1.57 earnings per share. Sell-side analysts forecast that Apple Inc. will post 8.76 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%.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

About Apple

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.