Gray Private Wealth LLC Sells 201 Shares of Apple Inc. (NASDAQ:AAPL)

Gray Private Wealth LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,037 shares of the iPhone maker’s stock after selling 201 shares during the quarter. Apple comprises about 1.7% of Gray Private Wealth LLC’s investment portfolio, making the stock its 11th largest position. Gray Private Wealth LLC’s holdings in Apple were worth $2,805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Cordant Inc. lifted its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new position in shares of Apple during the second quarter valued at $206,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Loop Capital cut their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Finally, Maxim Group lifted their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.4 %

Shares of NASDAQ:AAPL opened at $247.77 on Wednesday. The business has a 50-day moving average price of $230.80 and a 200-day moving average price of $222.26. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.38 and a beta of 1.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $248.21.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple’s dividend payout ratio (DPR) is presently 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.