Grandfield & Dodd LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Grandfield & Dodd LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,557 shares of the iPhone maker’s stock after selling 132 shares during the period. Grandfield & Dodd LLC’s holdings in Apple were worth $22,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. EULAV Asset Management boosted its position in Apple by 4.8% in the third quarter. EULAV Asset Management now owns 87,056 shares of the iPhone maker’s stock worth $20,284,000 after purchasing an additional 4,003 shares during the last quarter. Howe & Rusling Inc. lifted its position in shares of Apple by 2.1% during the 3rd quarter. Howe & Rusling Inc. now owns 155,331 shares of the iPhone maker’s stock valued at $36,192,000 after buying an additional 3,236 shares during the last quarter. NS Partners Ltd lifted its position in shares of Apple by 2.6% during the 3rd quarter. NS Partners Ltd now owns 583,676 shares of the iPhone maker’s stock valued at $135,997,000 after buying an additional 14,733 shares during the last quarter. Strategy Asset Managers LLC lifted its position in shares of Apple by 0.8% during the 3rd quarter. Strategy Asset Managers LLC now owns 62,281 shares of the iPhone maker’s stock valued at $14,511,000 after buying an additional 513 shares during the last quarter. Finally, Sachetta LLC lifted its position in shares of Apple by 0.8% during the 3rd quarter. Sachetta LLC now owns 33,268 shares of the iPhone maker’s stock valued at $7,751,000 after buying an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Tuesday, January 21st. Raymond James upped their price target on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Wedbush reaffirmed an “outperform” rating and set a $325.00 price target on shares of Apple in a research report on Thursday, January 23rd. UBS Group reaffirmed a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $238.05.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred 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 transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value 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 represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $239.36 on Thursday. The stock has a market cap of $3.60 trillion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 2.19 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 Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The stock’s 50-day moving average is $241.17 and its 200 day moving average is $230.75.

Apple (NASDAQ:AAPL) 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. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

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.