Apple Inc. (NASDAQ:AAPL) Stake Decreased by Parisi Gray Wealth Management

Parisi Gray Wealth Management cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,458 shares of the iPhone maker’s stock after selling 47 shares during the period. Apple makes up 4.1% of Parisi Gray Wealth Management’s portfolio, making the stock its 6th largest holding. Parisi Gray Wealth Management’s holdings in Apple were worth $12,456,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Verus Financial Partners Inc. increased its stake in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory boosted its stake in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its position in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC increased its position in shares of Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. raised its stake in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction 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 transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

Shares of Apple stock opened at $229.87 on Friday. The stock has a 50-day simple moving average of $227.73 and a 200-day simple moving average of $217.81. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AAPL. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Moffett Nathanson cut their target price on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

About Apple

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.