Gradient Capital Advisors LLC Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Gradient Capital Advisors LLC trimmed its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,721 shares of the iPhone maker’s stock after selling 5,849 shares during the period. Apple comprises about 5.6% of Gradient Capital Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Gradient Capital Advisors LLC’s holdings in Apple were worth $15,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Norges Bank bought a new position in Apple in the 4th quarter valued at $33,912,466,000. International Assets Investment Management LLC raised its position in shares of Apple by 14,395.4% during the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after acquiring an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Global Assets Advisory LLC raised its position in shares of Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Apple by 130.1% during the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after acquiring an additional 5,331,439 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 0.4 %

Shares of AAPL stock opened at $228.68 on Wednesday. The stock’s fifty day moving average price is $199.69 and its two-hundred day moving average price is $186.66. The company has a market cap of $3.51 trillion, a PE ratio of 35.56, a P/E/G ratio of 2.75 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $229.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPLGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the prior year, the company earned $1.52 EPS. Apple’s revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.59 EPS for the current fiscal year.

Apple announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,355 shares of company stock worth $34,771,329. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Evercore ISI restated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, July 4th. Monness Crespi & Hardt restated a “buy” rating and set a $205.00 target price on shares of Apple in a research report on Thursday, June 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $216.00 price objective on shares of Apple in a research note on Tuesday, June 11th. UBS Group reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, July 1st. Finally, Piper Sandler lifted their price objective on Apple from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.29.

View Our Latest Analysis on AAPL

About Apple

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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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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