Graypoint LLC Sells 4,020 Shares of Apple Inc. (NASDAQ:AAPL)

Graypoint LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 218,290 shares of the iPhone maker's stock after selling 4,020 shares during the quarter. Apple comprises 3.3% of Graypoint LLC's portfolio, making the stock its 5th biggest holding. Graypoint LLC's holdings in Apple were worth $50,862,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of AAPL. High Net Worth Advisory Group LLC increased its stake in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. Granite Investment Partners LLC grew its holdings in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock worth $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp increased its stake in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after buying an additional 126,210 shares during the period. Sterling Investment Counsel LLC boosted its position in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock valued at $16,269,000 after buying an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners boosted its position in Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker's stock valued at $59,122,000 after buying an additional 28,799 shares during the period. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America reaffirmed a "buy" rating and set a $256.00 target price on shares of Apple in a research report on Friday, January 3rd. Maxim Group increased their target price on shares of Apple from $203.00 to $215.00 and gave the stock a "hold" rating in a report on Friday, November 1st. UBS Group restated a "neutral" rating and issued a $236.00 price target on shares of Apple in a report on Monday, December 2nd. StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $239.85.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ:AAPL traded down $5.85 during trading hours on Friday, hitting $236.85. 61,642,168 shares of the stock were exchanged, compared to its average volume of 46,857,012. The firm's fifty day moving average price is $240.18 and its 200 day moving average price is $230.22. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a market cap of $3.58 trillion, a P/E ratio of 38.96, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter last year, the firm posted $1.46 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate 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. Stockholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple's dividend payout ratio (DPR) is presently 16.45%.

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.