Apple Inc. (NASDAQ:AAPL) Shares Sold by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 98.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,293 shares of the iPhone maker's stock after selling 2,243,209 shares during the period. Apple makes up 4.7% of Granite Bay Wealth Management LLC's holdings, making the stock its 7th biggest position. Granite Bay Wealth Management LLC's holdings in Apple were worth $8,456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the period. Capital International Investors lifted its position in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker's stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. American Century Companies Inc. raised its position in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker's stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker's stock valued at $5,061,296,000 after buying an additional 485,873 shares during the last quarter. Institutional investors own 60.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Wedbush restated an "outperform" rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. New Street Research reissued a "neutral" rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and increased their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy 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 price target of $235.25.

Apple Trading Down 0.6 %

Shares of Apple stock traded down $1.27 on Wednesday, reaching $227.01. 14,730,447 shares of the company's stock were exchanged, compared to its average volume of 58,315,543. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The firm's 50-day moving average is $227.34 and its two-hundred day moving average is $217.31. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.43 trillion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is 16.45%.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 408,170 shares of company stock valued at $92,007,745. Insiders own 0.06% of the company's stock.

Apple Company 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.