Grant Street Asset Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 22.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 15,352 shares of the iPhone maker’s stock after selling 4,569 shares during the period. Apple makes up about 1.1% of Grant Street Asset Management Inc.’s portfolio, making the stock its 14th largest position. Grant Street Asset Management Inc.’s holdings in Apple were worth $2,628,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Conservest Capital Advisors Inc. boosted its stake in shares of Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after buying an additional 55 shares in the last quarter. Mokosak Advisory Group LLC boosted its position in Apple by 1.1% during the second quarter. Mokosak Advisory Group LLC now owns 5,562 shares of the iPhone maker’s stock worth $1,079,000 after purchasing an additional 59 shares in the last quarter. Kraft Davis & Associates LLC boosted its position in Apple by 0.9% during the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock worth $1,155,000 after purchasing an additional 59 shares in the last quarter. MKT Advisors LLC boosted its position in Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares in the last quarter. Finally, Cassia Capital Partners LLC boosted its position in Apple by 1.2% during the third quarter. Cassia Capital Partners LLC now owns 5,209 shares of the iPhone maker’s stock worth $892,000 after purchasing an additional 60 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.
Apple Price Performance
Shares of AAPL opened at $172.62 on Friday. The firm has a market cap of $2.67 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.06 and a beta of 1.29. Apple Inc. has a 52 week low of $151.64 and a 52 week high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The stock has a 50 day moving average of $183.39 and a 200-day moving average of $183.34.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. As a group, analysts forecast that Apple Inc. will post 6.55 EPS for the current year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio (DPR) is 14.95%.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Apple in a report on Friday, February 2nd. Monness Crespi & Hardt boosted their price target on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target on shares of Apple in a report on Friday, February 2nd. Barclays dropped their target price on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research note on Friday, February 2nd. Finally, Morgan Stanley upped their target price on Apple from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, December 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $205.27.
Get Our Latest Stock Analysis on AAPL
Insider Buying and Selling
In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.
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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