Glassy Mountain Advisors Inc. Has $10.35 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Glassy Mountain Advisors Inc. decreased its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,727 shares of the iPhone maker’s stock after selling 1,478 shares during the period. Apple makes up approximately 6.2% of Glassy Mountain Advisors Inc.’s holdings, making the stock its biggest position. Glassy Mountain Advisors Inc.’s holdings in Apple were worth $10,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Elk River Wealth Management LLC lifted its stake in shares of Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after acquiring an additional 54,989 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Apple by 8.3% in the 1st 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 shares of Apple by 1.5% in the 1st 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. acquired a new stake in shares of Apple in the 1st quarter worth approximately $171,000. Finally, Chico Wealth RIA acquired a new stake in shares of Apple in the 1st quarter worth approximately $7,794,000. Institutional investors own 57.72% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $152.74 on Friday. The company’s fifty day moving average is $160.31 and its 200-day moving average is $155.83. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The firm has a market cap of $2.45 trillion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the prior year, the business posted $1.30 EPS. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.11 EPS 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Credit Suisse Group set a $201.00 target price on shares of Apple in a research note on Thursday, September 8th. Fundamental Research set a $177.07 target price on shares of Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Evercore ISI increased their target price on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Barclays set a $169.00 target price on shares of Apple in a research note on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $181.68.

Insider Buying and Selling

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

Apple Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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