Grant GrossMendelsohn LLC Has $4.53 Million Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Mar 21st, 2023

Grant GrossMendelsohn LLC lessened its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,924 shares of the iPhone maker’s stock after selling 2,427 shares during the period. Apple comprises approximately 2.3% of Grant GrossMendelsohn LLC’s holdings, making the stock its 14th biggest holding. Grant GrossMendelsohn LLC’s holdings in Apple were worth $4,527,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Robinson Value Management Ltd. acquired a new position in shares of Apple in the 3rd quarter valued at approximately $28,000. Hanseatic Management Services Inc. grew its position in shares of Apple by 75.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 107 shares during the period. Bluestem Financial Advisors LLC grew its position in shares of Apple by 5,935.2% in the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 229,929 shares during the period. HBC Financial Services PLLC grew its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Finally, Ramsey Quantitative Systems acquired a new position in shares of Apple in the 2nd quarter valued at approximately $55,000. 57.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AAPL. Raymond James decreased their price objective on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Oppenheimer reduced their price target on Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, December 12th. Sanford C. Bernstein set a $125.00 price objective on Apple in a report on Tuesday, January 24th. The Goldman Sachs Group started coverage on Apple in a report on Sunday, March 5th. They issued a “buy” rating and a $199.00 price objective for the company. Finally, National Bank Financial dropped their price target on Apple to $54.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $168.24.

Apple Stock Performance

Apple stock opened at $157.40 on Tuesday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76. The business’s 50-day moving average price is $147.18 and its two-hundred day moving average price is $145.23. The stock has a market cap of $2.49 trillion, a PE ratio of 26.72, a P/E/G ratio of 2.05 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a net margin of 24.56% and a return on equity of 163.45%. The business had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The business’s revenue was down 5.5% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 6.04 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a dividend of $0.23 per share. This is a boost from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, February 10th. Apple’s payout ratio is 15.62%.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.