Jackson Grant Investment Advisers Inc. Sells 10,095 Shares of Apple Inc. (NASDAQ:AAPL)

Jackson Grant Investment Advisers Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 33.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,822 shares of the iPhone maker’s stock after selling 10,095 shares during the quarter. Apple accounts for approximately 1.8% of Jackson Grant Investment Advisers Inc.’s investment portfolio, making the stock its 12th biggest holding. Jackson Grant Investment Advisers Inc.’s holdings in Apple were worth $3,845,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AAPL. Atlantic Private Wealth LLC bought a new stake in Apple during the first quarter worth $30,000. Summit Wealth Group LLC raised its position in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC raised its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC raised its position in shares of Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the period. Finally, Magellan Asset Management Ltd raised its position in shares of Apple by 10.6% in the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after purchasing an additional 127 shares during the period. Institutional investors own 58.51% of the company’s stock.

Apple Stock Up 0.9 %

Shares of NASDAQ AAPL opened at $191.45 on Tuesday. The company has a 50 day simple moving average of $177.15 and a 200 day simple moving average of $181.03. The firm has a market cap of $2.98 trillion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.30. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. 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 (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $1.29 EPS. On average, research analysts forecast that Apple Inc. will post 6.56 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 dividend on an annualized basis and a yield of 0.50%. Apple’s dividend payout ratio (DPR) is presently 15.69%.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the transaction, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 567,839 shares of company stock worth $100,675,794 in the last quarter. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Barclays dropped their price objective on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research report on Monday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a research report on Thursday, September 21st. Credit Suisse Group reissued an “outperform” rating and issued a $220.00 price objective on shares of Apple in a research report on Friday, September 15th. Finally, UBS Group restated a “neutral” rating and issued a $190.00 price target on shares of Apple in a research note on Wednesday, September 27th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.25.

Apple Company Profile

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.