Apple Inc. (NASDAQ:AAPL) is Grimes & Company Inc.’s 9th Largest Position

Grimes & Company Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 407,409 shares of the iPhone maker’s stock after purchasing an additional 4,948 shares during the quarter. Apple comprises 2.6% of Grimes & Company Inc.’s portfolio, making the stock its 9th largest position. Grimes & Company Inc.’s holdings in Apple were worth $78,438,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AAPL. Wyrmwood Management LLC lifted its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC raised its holdings in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the last quarter. PayPay Securities Corp raised its holdings in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares during the last quarter. Cordant Inc. lifted its position in Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Apple during the 4th quarter valued at $132,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group restated a “hold” rating and issued a $190.00 price target on shares of Apple in a research note on Monday, March 25th. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, April 9th. Maxim Group assumed coverage on shares of Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target on the stock. DZ Bank reissued a “hold” rating and set a $180.00 price objective on shares of Apple in a report on Thursday, March 28th. Finally, Monness Crespi & Hardt raised their target price on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.62.

Apple Price Performance

NASDAQ:AAPL opened at $173.50 on Tuesday. The firm has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.04 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The business has a 50 day simple moving average of $172.86 and a 200-day simple moving average of $181.77. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same period last year, the company earned $1.88 earnings per share. Apple’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s dividend payout ratio is presently 14.95%.

Insider Activity at Apple

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 366,271 shares of company stock worth $63,653,887. Insiders own 0.06% of the company’s stock.

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.