Gray Private Wealth LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Gray Private Wealth LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,037 shares of the iPhone maker’s stock after selling 201 shares during the period. Apple comprises 1.7% of Gray Private Wealth LLC’s holdings, making the stock its 11th biggest holding. Gray Private Wealth LLC’s holdings in Apple were worth $2,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. High Net Worth Advisory Group LLC boosted its position in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Granite Investment Partners LLC raised its position in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp raised its stake in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares during the period. Finally, CHICAGO TRUST Co NA grew its position in shares of Apple by 15.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after acquiring an additional 19,670 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Up 0.4 %

Shares of AAPL stock opened at $247.77 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $248.21. The firm has a market cap of $3.75 trillion, a P/E ratio of 40.75, a PEG ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm’s 50-day simple moving average is $230.80 and its 200-day simple moving average is $222.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s dividend payout ratio (DPR) is 16.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AAPL shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Citigroup upped their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp downgraded 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. Barclays lowered their price target on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 over the last 90 days. Insiders own 0.06% of the company’s stock.

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.