Granite Harbor Advisors Inc. Buys 3,697 Shares of Apple Inc. (NASDAQ:AAPL)

Granite Harbor Advisors Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,306 shares of the iPhone maker’s stock after purchasing an additional 3,697 shares during the period. Apple makes up approximately 4.2% of Granite Harbor Advisors Inc.’s portfolio, making the stock its 6th biggest holding. Granite Harbor Advisors Inc.’s holdings in Apple were worth $7,294,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Verus Financial Partners Inc. lifted its position in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory lifted its position in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. lifted its position in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the last quarter. Lowery Thomas LLC lifted its position in shares of Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ:AAPL opened at $242.65 on Wednesday. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.35 and a beta of 1.23. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average is $229.59 and its two-hundred day moving average is $220.74. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $242.76.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. Apple’s dividend payout ratio is presently 16.45%.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Apple in a research report on Friday, November 29th. Finally, Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

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.