Gray Private Wealth LLC Buys 1,262 Shares of Apple Inc. $AAPL

Gray Private Wealth LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,434 shares of the iPhone maker’s stock after acquiring an additional 1,262 shares during the period. Apple comprises approximately 1.4% of Gray Private Wealth LLC’s holdings, making the stock its 11th largest position. Gray Private Wealth LLC’s holdings in Apple were worth $2,551,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. First National Bank of Hutchinson grew its position in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC grew its position in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC grew its position in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its position in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its position in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.4%

AAPL opened at $259.58 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $265.29. The firm’s fifty day moving average is $243.53 and its 200 day moving average is $218.56. The stock has a market cap of $3.85 trillion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released 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 net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the previous year, the company earned $1.40 EPS. Apple’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded shares of Apple from a “moderate sell” rating to a “strong sell” rating in a research report on Monday. Sanford C. Bernstein initiated coverage on shares of Apple in a research report on Monday, September 15th. They issued an “outperform” rating and a $290.00 target price for the company. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Barclays boosted their price objective on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Finally, Morgan Stanley set a $298.00 price objective on shares of Apple and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $252.47.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,121 shares of company stock worth $65,358,981 in the last quarter. 0.06% of the stock is owned by company insiders.

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.