Avalon Trust Co Boosts Stake in Apple Amid Record Revenue

Avalon Trust Co has increased its stake in Apple Inc., buying an additional 5,000 shares in the first quarter. This brought Avalon's total holdings to 416,025 shares of AAPL stock, making it the company's second-largest holding at 7.3% of its portfolio.

The value of Avalon's Apple holdings is approximately $105,583,000 as per its most recent SEC filing. Other institutional investors and hedge funds have also been actively buying or selling AAPL shares. ROSS JOHNSON & Associates LLC, for instance, boosted its position in Apple by 1,800% in the first quarter.

Apple's latest earnings report showed a record-breaking revenue of $109.4 billion in June, with diluted EPS of $2.02 exceeding Wall Street expectations. The company has also declared a quarterly dividend of $0.27 per share, payable on August 13 to shareholders of record on August 10.

Wall Street analysts forecast continued growth for Apple, with an average rating of 'Moderate Buy' and a consensus target price of $331.60. However, some firms have trimmed their estimates, and others remain bullish on the stock, maintaining Buy or Overweight ratings.