Gray Private Wealth LLC Sells 492 Shares of Apple Inc. (NASDAQ:AAPL)

Gray Private Wealth LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,238 shares of the iPhone maker’s stock after selling 492 shares during the period. Apple comprises about 1.7% of Gray Private Wealth LLC’s investment portfolio, making the stock its 11th biggest holding. Gray Private Wealth LLC’s holdings in Apple were worth $2,578,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Christopher J. Hasenberg Inc purchased a new position in Apple during the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the fourth quarter worth $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 valued at $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in Apple during the fourth quarter valued at approximately $85,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated 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 $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 price target (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Thursday, September 19th. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Bank of America restated a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Apple Trading Up 0.4 %

NASDAQ AAPL opened at $227.37 on Wednesday. The company has a fifty day simple moving average of $222.10 and a two-hundred day simple moving average of $201.22. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.49 trillion, a P/E ratio of 35.36, a P/E/G ratio of 2.62 and a beta of 1.24.

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

Apple Dividend Announcement

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

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.