Granite Harbor Advisors Inc. Sells 353 Shares of Apple Inc. (NASDAQ:AAPL)

Granite Harbor Advisors Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,303 shares of the iPhone maker’s stock after selling 353 shares during the period. Apple comprises about 3.7% of Granite Harbor Advisors Inc.’s holdings, making the stock its 7th largest holding. Granite Harbor Advisors Inc.’s holdings in Apple were worth $4,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Conservest Capital Advisors Inc. increased its position in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares during the last quarter. High Pines Wealth Management LLC increased its position in Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares during the last quarter. Kraft Davis & Associates LLC increased 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 valued at $1,155,000 after acquiring an additional 59 shares during the last quarter. Asset Planning Corporation increased its position in Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares during the last quarter. Finally, MKT Advisors LLC increased 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 valued at $1,777,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler Companies cut shares of Apple to a “neutral” rating and cut their price objective for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 price target on the stock. in a report on Wednesday, January 10th. Barclays cut their price target on shares of Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a report on Friday, February 2nd. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Apple in a report on Tuesday. Finally, Oppenheimer restated an “outperform” rating and issued a $200.00 price target on shares of Apple in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $204.08.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

AAPL opened at $169.38 on Wednesday. Apple Inc. has a 52-week low of $162.80 and a 52-week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The company has a market cap of $2.62 trillion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. The firm’s 50-day moving average price is $176.00 and its 200-day moving average price is $182.31.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.55 EPS for the current fiscal year.

Apple Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

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.