Apple Inc. (NASDAQ:AAPL) Shares Acquired by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 6,880.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,279,502 shares of the iPhone maker’s stock after buying an additional 2,246,848 shares during the quarter. Apple accounts for about 4.8% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 7th biggest holding. Granite Bay Wealth Management LLC’s holdings in Apple were worth $480,109,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Newman Dignan & Sheerar Inc. lifted its holdings in shares of Apple by 17.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 75,329 shares of the iPhone maker’s stock valued at $15,866,000 after buying an additional 11,263 shares during the period. RFG Advisory LLC lifted its holdings in shares of Apple by 0.3% in the 2nd quarter. RFG Advisory LLC now owns 170,149 shares of the iPhone maker’s stock valued at $35,837,000 after buying an additional 539 shares during the period. Dnca Finance acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $9,004,000. Verum Partners LLC lifted its holdings in shares of Apple by 2.4% in the 2nd quarter. Verum Partners LLC now owns 23,967 shares of the iPhone maker’s stock valued at $5,048,000 after buying an additional 557 shares during the period. Finally, Sharp Financial Services LLC acquired a new stake in shares of Apple in the 2nd quarter valued at approximately $931,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 0.7 %

Shares of AAPL opened at $222.38 on Friday. The stock’s 50-day moving average is $222.89 and its two-hundred day moving average is $196.88. The stock has a market cap of $3.41 trillion, a PE ratio of 34.58, a P/E/G ratio of 2.69 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Equities analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. KeyCorp reaffirmed a “hold” rating and set a $247.61 price objective on shares of Apple in a report on Wednesday, August 28th. Oppenheimer lifted their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, TD Cowen lifted their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $238.62.

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.