Apple Inc. (NASDAQ:AAPL) Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,772 shares of the iPhone maker’s stock after selling 2,123 shares during the quarter. Apple makes up approximately 7.2% of GraniteShares Advisors LLC’s investment portfolio, making the stock its largest position. GraniteShares Advisors LLC’s holdings in Apple were worth $13,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Joseph Group Capital Management purchased a new stake in Apple in the 4th quarter valued at $1,631,000. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new stake in Apple in the 4th quarter valued at $41,000. Emerson Wealth LLC grew its holdings in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp grew its holdings in shares of Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after purchasing an additional 95 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. set a $175.00 price target on Apple in a research report on Friday, July 29th. Morgan Stanley reduced their price target on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Itau BBA Securities initiated coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Finally, Fundamental Research set a $177.07 price target on Apple and gave the company a “buy” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.18.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 1.5 %

Shares of AAPL stock opened at $158.91 on Wednesday. The business’s 50 day moving average is $155.68 and its two-hundred day moving average is $156.99. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a market capitalization of $2.55 trillion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 6.1 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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