Apple Inc. $AAPL Shares Sold by Graves Light Lenhart Wealth Inc.

Graves Light Lenhart Wealth Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,948 shares of the iPhone maker’s stock after selling 7,134 shares during the period. Apple comprises approximately 2.7% of Graves Light Lenhart Wealth Inc.’s holdings, making the stock its 10th largest position. Graves Light Lenhart Wealth Inc.’s holdings in Apple were worth $22,558,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Life Planning Partners Inc acquired a new stake in Apple in the fourth quarter valued at about $47,000. Elite Financial Inc. purchased a new position in Apple in the first quarter valued at about $58,000. Conquis Financial LLC purchased a new position in Apple in the fourth quarter valued at about $63,000. Finally, LSV Asset Management purchased a new position in Apple in the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. JPMorgan Chase & Co. increased their target price on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Morgan Stanley set a $240.00 target price on shares of Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. UBS Group reaffirmed a “neutral” rating on shares of Apple in a report on Monday, September 8th. Bank of America increased their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.66.

Apple Trading Down 0.8%

Shares of AAPL opened at $252.31 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $227.04 and a 200-day simple moving average of $212.78. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the company posted $1.40 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.