Apple Inc. (NASDAQ:AAPL) Shares Sold by Graves Light Lenhart Wealth Inc.

Graves Light Lenhart Wealth Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,082 shares of the iPhone maker's stock after selling 3,538 shares during the quarter. Apple accounts for 3.2% of Graves Light Lenhart Wealth Inc.'s portfolio, making the stock its 7th largest holding. Graves Light Lenhart Wealth Inc.'s holdings in Apple were worth $26,007,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AAPL. Vanguard Group Inc. grew its position in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares during the period. Norges Bank acquired a new stake in shares of Apple in the 4th quarter valued at $46,868,648,000. Northern Trust Corp grew its holdings in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AAPL shares. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Evercore ISI lifted their target price on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Tigress Financial increased their price target on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. UBS Group reiterated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Finally, KeyCorp raised Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $234.39.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company's stock, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 over the last three months. Company insiders own 0.06% of the company's stock.

Apple Trading Up 2.0%

AAPL traded up $4.09 during mid-day trading on Monday, hitting $205.17. The stock had a trading volume of 91,511,325 shares, compared to its average volume of 53,513,950. The stock's fifty day simple moving average is $202.61 and its 200-day simple moving average is $219.83. The firm has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple announced that its Board of Directors has approved a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.