Gradient Capital Advisors LLC Has $16.96 Million Holdings in Apple Inc. $AAPL

Key Points

• Gradient Capital Advisors LLC has decreased its stake in Apple Inc. by 4.0%, owning 76,347 shares, which accounts for 5.5% of their portfolio.
• Apple's recent earnings report showed EPS of $1.57, exceeding analyst estimates, with quarterly revenue of $94.04 billion up 9.6% from last year.
• Several institutional investors have increased their holdings in Apple, including Creekmur Asset Management LLC, which boosted its shares by 25.0% in the first quarter of this year.

Gradient Capital Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,347 shares of the iPhone maker's stock after selling 3,209 shares during the quarter. Apple accounts for 5.5% of Gradient Capital Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Gradient Capital Advisors LLC's holdings in Apple were worth $16,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Conquis Financial LLC purchased a new stake in shares of Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at approximately $65,000. Elite Financial Inc. acquired a new stake in Apple during the 1st quarter valued at $58,000. Pillar Financial Advisors LLC purchased a new stake in Apple during the 4th quarter worth about $82,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Apple during the 4th quarter worth about $147,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

AAPL stock traded down $3.28 during trading on Tuesday, reaching $228.86. 20,054,462 shares of the company's stock were exchanged, compared to its average volume of 56,619,484. The firm has a market cap of $3.40 trillion, a PE ratio of 34.72, a P/E/G ratio of 2.42 and a beta of 1.11. The company's fifty day moving average price is $216.40 and its 200-day moving average price is $212.63. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $1.40 earnings per share. On average, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is 15.78%.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Barclays boosted their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Morgan Stanley boosted their price target on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Bank of America restated a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Monday, August 25th. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and an average target price of $237.37.

Apple 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.