Grace & White Inc. NY Has $3.33 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Grace & White Inc. NY decreased its position in Apple Inc. (NASDAQ:AAPL) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,283 shares of the iPhone maker’s stock after selling 3,306 shares during the period. Grace & White Inc. NY’s holdings in Apple were worth $3,328,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Builder Investment Group Inc. ADV raised its stake in shares of Apple by 0.7% in the 3rd quarter. Builder Investment Group Inc. ADV now owns 11,484 shares of the iPhone maker’s stock valued at $2,676,000 after buying an additional 79 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in Apple by 17.0% in the third quarter. Foundations Investment Advisors LLC now owns 341,617 shares of the iPhone maker’s stock valued at $79,597,000 after acquiring an additional 49,749 shares during the period. Telos Capital Management Inc. raised its position in Apple by 0.7% in the third quarter. Telos Capital Management Inc. now owns 233,615 shares of the iPhone maker’s stock worth $54,432,000 after purchasing an additional 1,678 shares in the last quarter. Trellis Wealth Advisors LLC lifted its stake in Apple by 67.9% during the third quarter. Trellis Wealth Advisors LLC now owns 6,865 shares of the iPhone maker’s stock worth $1,600,000 after purchasing an additional 2,777 shares during the period. Finally, Integrity Financial Corp WA boosted its holdings in Apple by 18.8% during the third quarter. Integrity Financial Corp WA now owns 32,980 shares of the iPhone maker’s stock valued at $7,684,000 after purchasing an additional 5,225 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays cut their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. Rosenblatt Securities upped their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Finally, New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 1.0 %

NASDAQ AAPL opened at $253.48 on Wednesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $253.83. The stock has a 50-day simple moving average of $233.64 and a 200 day simple moving average of $224.73. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.83 trillion, a PE ratio of 41.69, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 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 company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business posted $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s dividend payout ratio is 16.45%.

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.