Graybill Wealth Management LTD. Raises Stock Position in Apple Inc. $AAPL

Graybill Wealth Management LTD. raised its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,328 shares of the iPhone maker’s stock after purchasing an additional 1,865 shares during the period. Apple accounts for 4.5% of Graybill Wealth Management LTD.’s holdings, making the stock its biggest holding. Graybill Wealth Management LTD.’s holdings in Apple were worth $13,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Baker Boyer National Bank boosted its holdings in Apple by 0.3% in the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after acquiring an additional 47 shares in the last quarter. Salus Financial Advisors LLC lifted its holdings in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares in the last quarter. Red Tortoise LLC grew its position in Apple by 0.9% in the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 49 shares during the period. SigFig Wealth Management LLC grew its position in Apple by 2.8% in the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after purchasing an additional 50 shares during the period. Finally, Shariaportfolio Inc. increased its stake in Apple by 1.3% during the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 228,052 shares of company stock worth $58,604,588 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. DZ Bank raised shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 4th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Bank of America lifted their price target on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Melius Research set a $345.00 price objective on Apple in a research note on Friday, October 31st. Finally, Wall Street Zen lowered Apple from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Price Performance

Apple stock opened at $277.55 on Thursday. The stock has a market cap of $4.10 trillion, a P/E ratio of 42.12, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company’s 50 day moving average price is $261.82 and its two-hundred day moving average price is $230.80. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $280.38.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. During the same period last year, the business posted $1.64 earnings per share. Apple’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is presently 13.92%.

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.