Greystone Financial Group LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 10.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,840 shares of the iPhone maker’s stock after selling 9,080 shares during the period. Apple makes up about 3.4% of Greystone Financial Group LLC’s investment portfolio, making the stock its 5th largest position. Greystone Financial Group LLC’s holdings in Apple were worth $14,517,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Berkshire Hathaway Inc increased its stake in shares of Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after buying an additional 20,424,207 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after buying an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Apple by 0.9% in the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock worth $46,918,015,000 after buying an additional 2,421,295 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Apple by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after buying an additional 7,736,013 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $215.00 price target on shares of Apple in a research note on Monday, September 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Bank of America reiterated a “neutral” rating and set a $208.00 target price on shares of Apple in a research note on Friday, September 22nd. Piper Sandler boosted their target price on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $220.00 target price on shares of Apple in a research note on Friday, September 15th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.54.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 455,004 shares of company stock worth $79,238,767. Company insiders own 0.06% of the company’s stock.
Apple Price Performance
Shares of Apple stock opened at $179.80 on Thursday. The company’s 50-day moving average price is $178.31 and its two-hundred day moving average price is $178.16. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The stock has a market cap of $2.81 trillion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.53%. Apple’s payout ratio is presently 16.13%.
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.
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