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

Parisi Gray Wealth Management lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,505 shares of the iPhone maker’s stock after selling 841 shares during the quarter. Apple accounts for approximately 4.0% of Parisi Gray Wealth Management’s investment portfolio, making the stock its 7th biggest position. Parisi Gray Wealth Management’s holdings in Apple were worth $11,269,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new position in Apple in the 1st quarter valued at $35,000. Fidelis Capital Partners LLC raised its stake in Apple by 17.9% in 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. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the fourth quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. grew its stake in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in Apple in the 4th quarter valued at about $85,000. 60.41% of the stock is owned by institutional investors.

Apple Trading Up 0.7 %

AAPL opened at $222.38 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a fifty day moving average of $222.89 and a 200-day moving average of $196.88. The stock has a market cap of $3.41 trillion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. On average, sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Tuesday, August 27th. Barclays reduced their target price on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. KeyCorp reissued a “hold” rating and set a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 price objective (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Finally, TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.62.

Apple Company 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.