Graney & King LLC Purchases 118 Shares of Apple Inc. $AAPL

Graney & King LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,704 shares of the iPhone maker’s stock after purchasing an additional 118 shares during the period. Apple comprises about 1.4% of Graney & King LLC’s investment portfolio, making the stock its 15th largest position. Graney & King LLC’s holdings in Apple were worth $1,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Landscape Capital Management L.L.C. increased its position in shares of Apple by 2.6% during the first quarter. Landscape Capital Management L.L.C. now owns 17,895 shares of the iPhone maker’s stock valued at $3,975,000 after purchasing an additional 451 shares during the period. Okabena Investment Services Inc. increased its position in shares of Apple by 31.7% during the first quarter. Okabena Investment Services Inc. now owns 29,924 shares of the iPhone maker’s stock valued at $6,647,000 after purchasing an additional 7,199 shares during the period. OMERS ADMINISTRATION Corp increased its position in shares of Apple by 13.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 2,366,248 shares of the iPhone maker’s stock valued at $525,615,000 after purchasing an additional 286,753 shares during the period. Truvestments Capital LLC boosted its stake in Apple by 10.6% in the 1st quarter. Truvestments Capital LLC now owns 46,687 shares of the iPhone maker’s stock valued at $10,371,000 after buying an additional 4,466 shares in the last quarter. Finally, Wealth Preservation Advisors LLC bought a new stake in Apple in the first quarter valued at $8,142,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of analyst reports. Rosenblatt Securities upped their price target on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America upped their price target on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $270.00 price target on shares of Apple in a research report on Tuesday. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Wednesday. Finally, Barclays upped their price target on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $240.80.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $230.03 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $3.41 trillion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The business has a fifty day moving average of $221.08 and a 200-day moving average of $212.48.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the company posted $1.40 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is 15.78%.

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.