Grandview Asset Management LLC Has $19.74 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Grandview Asset Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 4.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 84,711 shares of the iPhone maker’s stock after selling 3,807 shares during the period. Apple comprises 11.3% of Grandview Asset Management LLC’s holdings, making the stock its 2nd largest position. Grandview Asset Management LLC’s holdings in Apple were worth $19,738,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Hershey Financial Advisers LLC bought a new position in shares of Apple during the second quarter valued at approximately $42,000. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP increased its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in shares of Apple during the second quarter valued at approximately $208,000. 60.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Evercore ISI reissued a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Citigroup raised their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Tigress Financial raised their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird raised their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.25.

Apple Price Performance

AAPL stock opened at $228.44 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average price of $227.59 and a 200 day moving average price of $217.47. The stock has a market cap of $3.45 trillion, a PE ratio of 37.57, a P/E/G ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

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

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. Company 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.