Apple Inc. (NASDAQ:AAPL) Position Decreased by GR Financial Group LLC

GR Financial Group LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,187 shares of the iPhone maker’s stock after selling 97 shares during the period. Apple makes up about 0.5% of GR Financial Group LLC’s portfolio, making the stock its 4th biggest holding. GR Financial Group LLC’s holdings in Apple were worth $2,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Access Investment Management LLC purchased a new position in shares of Apple during the 1st quarter valued at about $140,000. Hoese & Co LLP grew its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new position in shares of Apple during the 2nd quarter valued at approximately $206,000. Benchmark Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at $208,000. Finally, Sequent Asset Management LLC purchased a new stake in Apple during the second quarter worth $214,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AAPL. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Citigroup lifted their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 target price on shares of Apple in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.91.

Insider Buying and Selling at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock valued at $114,786,399 over the last 90 days. 0.06% of the stock is owned by insiders.

Apple Stock Up 0.4 %

AAPL stock opened at $231.41 on Monday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The firm has a market cap of $3.55 trillion, a PE ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. The firm’s 50 day moving average price is $226.86 and its 200-day moving average price is $210.64. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.