Apple Inc. $AAPL Shares Acquired by Chemung Canal Trust Co.

Chemung Canal Trust Co. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,912 shares of the iPhone maker’s stock after acquiring an additional 3,447 shares during the period. Apple makes up approximately 2.9% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 8th largest holding. Chemung Canal Trust Co.’s holdings in Apple were worth $14,190,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. State Street Corp lifted its stake in shares of Apple by 1.1% during the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after buying an additional 6,555,392 shares during the period. Geode Capital Management LLC grew its holdings in shares of Apple by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after buying an additional 1,866,103 shares during the last quarter. Morgan Stanley increased its position in shares of Apple by 0.6% in the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after acquiring an additional 1,379,651 shares during the period. Finally, Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at $52,266,468,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 1.3%

NASDAQ AAPL opened at $312.66 on Tuesday. The company has a market capitalization of $4.59 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a fifty day moving average of $295.25 and a 200 day moving average of $273.84. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating 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 net margin of 27.15% and a return on equity of 146.69%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 earnings per share. Research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Monday, June 1st. Oppenheimer reiterated a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. Barclays reissued an “underweight” rating on shares of Apple in a report on Tuesday, June 9th. KeyCorp restated a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple extended its long-running Broadcom chip partnership through 2031, supporting its custom AI chip and device roadmap and reinforcing supply-chain stability for future products. Broadcom, Apple extend chip supply deal through 2031
• Positive Sentiment: Reports that Apple is planning a first foldable iPhone and an “Ultra” tier have added fresh growth catalysts, with analysts arguing the premium devices could drive upgrades and pricing power. Is Apple (AAPL) Already Priced In Following Its Broadcom Deal And New iPhone Plans?
• Positive Sentiment: Commentary around a high-priced foldable iPhone suggests demand could be strong despite the steep tag, which supports bullish expectations for Apple’s premium product mix. Apple’s $2,500 foldable iPhone could sell out instantly
• Neutral Sentiment: Some analysts warn the first foldable iPhone may face limited supply and launch delays, which could temper near-term enthusiasm even if long-term demand remains intact. AAPL Stock Dips Premarket: Analyst Warns Foldable iPhone Supply Issues Could Blow September Launch Window
• Negative Sentiment: There is also skepticism that the foldable iPhone alone can reignite Apple’s growth rate, suggesting investors may be debating whether the recent rally has already priced in the upside. Apple Plans Major Updates to iPad Pro and MacBook Pro for 2027. It’s Not Enough to Reignite Growth.

Insider Transactions at Apple

In other news, insider Ben Borders sold 116 shares of the company’s stock in a transaction dated 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 owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $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 2,924 shares of company stock worth $825,546 in the last 90 days. Company insiders own 0.06% of the company’s stock.

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.