Indiana Trust & Investment Management Co Sells 1,868 Shares of Apple Inc. $AAPL

Indiana Trust & Investment Management Co lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,965 shares of the iPhone maker’s stock after selling 1,868 shares during the quarter. Apple comprises 5.0% of Indiana Trust & Investment Management Co’s investment portfolio, making the stock its 3rd biggest holding. Indiana Trust & Investment Management Co’s holdings in Apple were worth $16,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ascentis Independent Advisors increased its holdings in shares of Apple by 133.8% during the first quarter. Ascentis Independent Advisors now owns 247,516 shares of the iPhone maker’s stock valued at $62,818,000 after acquiring an additional 141,635 shares in the last quarter. Seascape Capital Management lifted its holdings in shares of Apple by 0.6% in the 1st quarter. Seascape Capital Management now owns 29,047 shares of the iPhone maker’s stock worth $7,372,000 after purchasing an additional 185 shares in the last quarter. B.O.S.S. Retirement Advisors LLC grew its position in Apple by 16.4% in the 1st quarter. B.O.S.S. Retirement Advisors LLC now owns 19,291 shares of the iPhone maker’s stock valued at $4,896,000 after purchasing an additional 2,722 shares during the period. Raleigh Capital Management Inc. grew its position in Apple by 13.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 22,614 shares of the iPhone maker’s stock valued at $5,739,000 after purchasing an additional 2,633 shares during the period. Finally, Lee Danner & Bass Inc. raised its holdings in shares of Apple by 0.7% in the 1st quarter. Lee Danner & Bass Inc. now owns 222,332 shares of the iPhone maker’s stock worth $56,426,000 after acquiring an additional 1,627 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Trending Headlines about 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

Insiders Place Their Bets

In other news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 Price Performance

Apple stock opened at $333.74 on Friday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $334.99. The business has a 50-day simple moving average of $303.61 and a 200 day simple moving average 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. The stock has a market cap of $4.90 trillion, a price-to-earnings ratio of 40.36, a PEG ratio of 2.89 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the company earned $1.65 EPS. The company’s quarterly revenue was up 16.6% 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 fiscal year.

Apple Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird set a $310.00 price objective on shares of Apple in a research report on Friday, May 1st. TD Cowen boosted their price objective on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a research report on Monday, June 22nd. Evercore reaffirmed an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. Finally, Maxim Group reiterated a “buy” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.43.

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.