Glassy Mountain Advisors Inc. Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Glassy Mountain Advisors Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,524 shares of the iPhone maker’s stock after selling 5,357 shares during the quarter. Apple comprises 5.9% of Glassy Mountain Advisors Inc.’s portfolio, making the stock its 2nd biggest holding. Glassy Mountain Advisors Inc.’s holdings in Apple were worth $16,665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its holdings in Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after purchasing an additional 2,361 shares in the last quarter. Guardian Asset Advisors LLC raised its position in shares of Apple by 0.8% during the second quarter. Guardian Asset Advisors LLC now owns 92,133 shares of the iPhone maker’s stock valued at $19,408,000 after buying an additional 732 shares during the last quarter. Strong Tower Advisory Services raised its position in shares of Apple by 19.4% during the second quarter. Strong Tower Advisory Services now owns 59,684 shares of the iPhone maker’s stock valued at $12,571,000 after buying an additional 9,679 shares during the last quarter. PCG Wealth Advisors LLC raised its position in shares of Apple by 10.6% during the second quarter. PCG Wealth Advisors LLC now owns 9,426 shares of the iPhone maker’s stock valued at $1,985,000 after buying an additional 907 shares during the last quarter. Finally, Signature Wealth Management Group raised its position in shares of Apple by 4.4% during the second quarter. Signature Wealth Management Group now owns 9,129 shares of the iPhone maker’s stock valued at $1,923,000 after buying an additional 386 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $243.36 on Monday. The company has a market capitalization of $3.68 trillion, a PE ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a 50-day simple moving average of $238.91 and a two-hundred day simple moving average of $229.08. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The firm’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 fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Wedbush boosted their price target on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. Sanford C. Bernstein boosted their price target on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. New Street Research reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.03.

Apple 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.