Graybill Wealth Management LTD. Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

Graybill Wealth Management LTD. reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,012 shares of the iPhone maker’s stock after selling 1,105 shares during the period. Apple makes up about 5.3% of Graybill Wealth Management LTD.’s investment portfolio, making the stock its biggest position. Graybill Wealth Management LTD.’s holdings in Apple were worth $13,061,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in shares of Apple during the 1st quarter valued at about $35,000. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the fourth quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. increased its holdings 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 valued at $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. bought a new position in Apple in the fourth quarter worth approximately $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.3 %

AAPL opened at $228.20 on Friday. The stock has a 50-day moving average of $222.41 and a 200 day moving average of $200.19. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The firm has a market cap of $3.50 trillion, a P/E ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. UBS Group increased their target price on shares of Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Citigroup reaffirmed a “buy” rating and set a $255.00 price target on shares of Apple in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on 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 owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’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 completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Over the last quarter, 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.

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.