Graypoint LLC Decreases Holdings in Apple Inc. $AAPL

Graypoint LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,083 shares of the iPhone maker’s stock after selling 10,480 shares during the quarter. Apple makes up 2.3% of Graypoint LLC’s portfolio, making the stock its 8th biggest holding. Graypoint LLC’s holdings in Apple were worth $40,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AAPL. Home Federal Bank of Tennessee increased its holdings in Apple by 1.7% in the 2nd quarter. Home Federal Bank of Tennessee now owns 28,836 shares of the iPhone maker’s stock worth $5,916,000 after acquiring an additional 479 shares in the last quarter. tru Independence LLC boosted its position in shares of Apple by 8.7% in the second quarter. tru Independence LLC now owns 38,021 shares of the iPhone maker’s stock worth $7,801,000 after purchasing an additional 3,039 shares during the period. BCS Wealth Management increased its stake in shares of Apple by 44.6% in the second quarter. BCS Wealth Management now owns 24,987 shares of the iPhone maker’s stock worth $5,127,000 after purchasing an additional 7,701 shares in the last quarter. Kagan Cocozza Asset Management increased its stake in shares of Apple by 4.9% in the second quarter. Kagan Cocozza Asset Management now owns 1,609 shares of the iPhone maker’s stock worth $330,000 after purchasing an additional 75 shares in the last quarter. Finally, Charter Capital Management LLC DE purchased a new position in shares of Apple during the 2nd quarter valued at $617,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Seaport Res Ptn raised Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Evercore ISI set a $290.00 target price on Apple and gave the stock an “outperform” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. boosted their price target on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a research note on Saturday, September 27th. Finally, Loop Capital reduced their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.49.

Apple Price Performance

NASDAQ:AAPL opened at $256.69 on Tuesday. The firm has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.95, a PEG ratio of 2.51 and a beta of 1.09. 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 business has a 50 day simple moving average of $233.94 and a 200-day simple moving average of $214.96. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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

Apple Announces Dividend

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

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,922 shares of company stock worth $64,320,190. Insiders own 0.06% of the company’s stock.

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.