Greystone Financial Group LLC Has $22.26 Million Holdings in Apple Inc. $AAPL

Greystone Financial Group LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.1% in the 4th quarter, HoldingsChannel reports. The firm owned 81,873 shares of the iPhone maker’s stock after selling 3,526 shares during the quarter. Apple makes up about 3.5% of Greystone Financial Group LLC’s holdings, making the stock its 5th biggest holding. Greystone Financial Group LLC’s holdings in Apple were worth $22,258,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Apple by 5.9% in the fourth quarter. Brighton Jones LLC now owns 565,008 shares of the iPhone maker’s stock worth $153,603,000 after buying an additional 31,280 shares during the period. Legacy Advisors LLC increased its holdings in shares of Apple by 8.0% in the fourth quarter. Legacy Advisors LLC now owns 126,601 shares of the iPhone maker’s stock worth $34,418,000 after buying an additional 9,342 shares during the period. Bolthouse Investments LLC increased its holdings in shares of Apple by 1.5% in the fourth quarter. Bolthouse Investments LLC now owns 22,406 shares of the iPhone maker’s stock worth $6,091,000 after buying an additional 324 shares during the period. MontVue Capital Management Inc. increased its holdings in shares of Apple by 1.7% in the fourth quarter. MontVue Capital Management Inc. now owns 2,830 shares of the iPhone maker’s stock worth $769,000 after buying an additional 48 shares during the period. Finally, Stone Summit Wealth LLC increased its holdings in shares of Apple by 4.2% in the fourth quarter. Stone Summit Wealth LLC now owns 18,605 shares of the iPhone maker’s stock worth $5,058,000 after buying an additional 747 shares during the period. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AAPL shares. JPMorgan Chase & Co. boosted their price target on Apple from $315.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, January 30th. UBS Group set a $296.00 price target on Apple and gave the company a “neutral” rating in a report on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Wednesday, March 4th. TD Cowen restated a “buy” rating and set a $335.00 price target (up from $325.00) on shares of Apple in a report on Friday, May 1st. Finally, Evercore restated an “outperform” rating and set a $365.00 price target on shares of Apple in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.74.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 97,759 shares of company stock valued at $24,964,305. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $300.23 on Monday. The stock’s 50 day simple moving average is $265.37 and its two-hundred day simple moving average is $267.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market cap of $4.41 trillion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.61 and a beta of 1.06. Apple Inc. has a fifty-two week low of $193.46 and a fifty-two week high of $303.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 EPS. As a group, analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
• Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
• Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
• Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
• Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
• Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic’s Mythos Helped Find Bugs in Apple’s Desktop Operating System

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.