Apple Inc. (NASDAQ:AAPL) Shares Sold by Gruss & Co. LLC

Gruss & Co. LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 54.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the iPhone maker’s stock after selling 4,500 shares during the period. Apple comprises approximately 6.8% of Gruss & Co. LLC’s holdings, making the stock its 5th biggest position. Gruss & Co. LLC’s holdings in Apple were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Swedbank AB bought a new position in Apple during the 1st quarter worth $3,026,492,000. Strategic Financial Concepts LLC grew its position in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the period. Finally, William Blair Investment Management LLC bought a new position in Apple in the 2nd quarter worth about $834,368,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Down 0.1 %

Shares of NASDAQ:AAPL opened at $242.84 on Monday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $244.63. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.94, a P/E/G ratio of 2.38 and a beta of 1.23. The company’s fifty day moving average is $230.53 and its 200-day moving average is $221.83. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Apple in a research report on Friday, November 29th. Finally, KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Two 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Apple Company Profile

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.