Apple Inc. (NASDAQ:AAPL) is Gray Private Wealth LLC’s 10th Largest Position

Gray Private Wealth LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,848 shares of the iPhone maker’s stock after selling 189 shares during the period. Apple makes up about 1.8% of Gray Private Wealth LLC’s holdings, making the stock its 10th largest position. Gray Private Wealth LLC’s holdings in Apple were worth $2,967,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the period. State Street Corp boosted its holdings in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Geode Capital Management LLC lifted its holdings in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after buying an additional 20,483,787 shares in the last quarter. FMR LLC increased its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker’s stock valued at $2,411,260,000 after acquiring an additional 9,590,933 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 15.3 %

AAPL opened at $198.85 on Thursday. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company’s 50 day moving average price is $224.31 and its two-hundred day moving average price is $231.59. The firm has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Maxim Group upped their price target on shares of Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Evercore ISI increased their price target on shares of Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Redburn Partners set a $230.00 price target on Apple in a report on Friday, January 31st. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, April 2nd. Finally, Argus upgraded shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.26.

Apple 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.