Graves Light Lenhart Wealth Inc. Sells 983 Shares of Apple Inc. (NASDAQ:AAPL)

Graves Light Lenhart Wealth Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,620 shares of the iPhone maker’s stock after selling 983 shares during the period. Apple makes up about 3.8% of Graves Light Lenhart Wealth Inc.’s holdings, making the stock its 5th largest position. Graves Light Lenhart Wealth Inc.’s holdings in Apple were worth $30,206,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after acquiring an additional 93,886,664 shares during the period. State Street Corp boosted its position in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares in the last quarter. Geode Capital Management LLC boosted its position in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC grew its holdings in Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value 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 $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $247.10 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a 50 day moving average of $240.39 and a two-hundred day moving average of $233.12. The company has a market cap of $3.71 trillion, a P/E ratio of 39.22, a P/E/G ratio of 2.44 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is 15.87%.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Barclays boosted their price objective on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Bank of America lifted their price objective on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $244.85.

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.