Grandview Asset Management LLC Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Grandview Asset Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,881 shares of the iPhone maker’s stock after selling 1,451 shares during the period. Apple comprises approximately 8.2% of Grandview Asset Management LLC’s portfolio, making the stock its biggest holding. Grandview Asset Management LLC’s holdings in Apple were worth $14,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Elk River Wealth Management LLC boosted its stake in shares of Apple by 49.0% during the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after purchasing an additional 54,989 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Apple by 8.3% in the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after acquiring an additional 5,703 shares during the period. Piscataqua Savings Bank lifted its stake in Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after acquiring an additional 684 shares during the period. Harbor Capital Advisors Inc. bought a new position in Apple in the first quarter worth $171,000. Finally, Chico Wealth RIA bought a new position in Apple in the first quarter worth $7,794,000. 57.72% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AAPL shares. set a $175.00 price target on Apple in a report on Friday, July 29th. Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a report on Thursday, August 4th. Sanford C. Bernstein set a $170.00 price objective on Apple in a report on Monday, September 12th. Itaú Unibanco began coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Finally, Wedbush lifted their price objective on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.68.

Apple Stock Down 2.0 %

Shares of AAPL opened at $153.72 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock’s 50 day moving average is $160.23 and its two-hundred day moving average is $155.88. The firm has a market cap of $2.47 trillion, a P/E ratio of 25.37, a PEG ratio of 2.00 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. Analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. Apple’s dividend payout ratio is presently 15.18%.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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