Parisi Gray Wealth Management Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Parisi Gray Wealth Management lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,458 shares of the iPhone maker’s stock after selling 47 shares during the quarter. Apple makes up 4.1% of Parisi Gray Wealth Management’s portfolio, making the stock its 6th biggest position. Parisi Gray Wealth Management’s holdings in Apple were worth $12,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC boosted its position in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in Apple during the second quarter valued at $42,000. Access Investment Management LLC bought a new stake in shares of Apple during the 1st quarter valued at $140,000. Hoese & Co LLP boosted its stake in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new stake in shares of Apple in the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $229.87 on Friday. The stock has a 50-day moving average price of $227.73 and a 200 day moving average price of $217.81. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. Equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is currently 16.45%.

Insiders Place Their Bets

In related news, 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 value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. TD Cowen increased their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and upped their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.25.

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.