Grassi Investment Management decreased its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 340,872 shares of the iPhone maker’s stock after selling 653 shares during the period. Apple makes up about 6.9% of Grassi Investment Management’s portfolio, making the stock its 2nd biggest position. Grassi Investment Management’s holdings in Apple were worth $79,423,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AAPL. Westwood Holdings Group Inc. increased its position in Apple by 2.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker’s stock valued at $130,629,000 after acquiring an additional 17,519 shares during the period. PGGM Investments boosted its position in shares of Apple by 13.7% during the 1st quarter. PGGM Investments now owns 991,643 shares of the iPhone maker’s stock worth $170,047,000 after purchasing an additional 119,866 shares in the last quarter. Dodds Wealth LLC lifted its holdings in shares of Apple by 6.6% in the 1st quarter. Dodds Wealth LLC now owns 12,707 shares of the iPhone maker’s stock worth $2,179,000 after purchasing an additional 784 shares in the last quarter. Invst LLC raised its holdings in shares of Apple by 0.8% in the 1st quarter. Invst LLC now owns 49,814 shares of the iPhone maker’s stock worth $8,470,000 after acquiring an additional 404 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its position in shares of Apple by 1.1% during the first quarter. Cetera Advisor Networks LLC now owns 2,568,133 shares of the iPhone maker’s stock valued at $440,383,000 after buying an additional 29,162 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the subject of a number of research analyst reports. Citigroup increased their price target on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Loop Capital lowered their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Friday, December 13th. Finally, Maxim Group boosted their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.
Insider Buying and Selling
In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by company insiders.
Apple Price Performance
Shares of NASDAQ AAPL opened at $254.49 on Friday. The firm has a market cap of $3.85 trillion, a P/E ratio of 41.86, a PEG ratio of 2.41 and a beta of 1.23. The company has a 50 day moving average of $234.97 and a 200 day moving average of $225.70. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is 16.45%.
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.
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