Apple Inc. (NASDAQ:AAPL) Stock Holdings Reduced by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,485 shares of the iPhone maker’s stock after selling 2,861 shares during the quarter. Apple makes up approximately 5.2% of Griffin Asset Management Inc.’s holdings, making the stock its 2nd biggest position. Griffin Asset Management Inc.’s holdings in Apple were worth $38,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Parker Financial LLC boosted its position in Apple by 1.2% in the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after buying an additional 54 shares during the last quarter. MKT Advisors LLC boosted its position in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 60 shares during the last quarter. Professional Financial Advisors LLC boosted its position in Apple by 0.5% in the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock valued at $2,563,000 after buying an additional 62 shares during the last quarter. Aspire Capital Advisors LLC boosted its position in Apple by 0.5% in the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock valued at $2,321,000 after buying an additional 64 shares during the last quarter. Finally, Legacy Financial Group LLC boosted its position in Apple by 0.6% in the 2nd quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock valued at $2,124,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $189.69 on Monday. The stock has a market capitalization of $2.95 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.60 and a beta of 1.30. The business has a 50-day moving average of $176.91 and a 200-day moving average of $180.85. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The business had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. During the same quarter last year, the company posted $1.29 earnings per share. Apple’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 6.56 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s payout ratio is currently 15.69%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,806 shares of Apple stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $184.04, for a total transaction of $884,496.24. Following the completion of the transaction, the insider now owns 34,687 shares in the company, valued at $6,383,795.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Chris Kondo sold 4,806 shares of Apple stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $184.04, for a total transaction of $884,496.24. Following the completion of the transaction, the insider now owns 34,687 shares in the company, valued at $6,383,795.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the sale, the chief financial officer now owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,391 shares of company stock worth $77,370,046. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird increased their price objective on Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Evercore ISI restated an “outperform” rating and issued a $210.00 price target on shares of Apple in a research report on Thursday, September 28th. Credit Suisse Group restated an “outperform” rating and issued a $220.00 price target on shares of Apple in a research report on Friday, September 15th. Jefferies Financial Group reduced their price target on Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Apple in a research report on Thursday, September 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $198.25.

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.