Gradient Capital Advisors LLC Sells 2,380 Shares of Apple Inc. $AAPL

Key Points

• Gradient Capital Advisors LLC reduced its holdings in Apple Inc. by 3.1%, selling 2,380 shares, which left them with 73,967 shares valued at $15,176,000.
• Recent insider trading at Apple saw SVP Deirdre O'Brien and SVP Katherine L. Adams sell over 90,000 shares collectively, resulting in significant decreases in their ownership.
• Apple's stock has a market capitalization of $3.64 trillion and is currently trading around $245.27, reflecting a 3.5% decline.

Gradient Capital Advisors LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,967 shares of the iPhone maker's stock after selling 2,380 shares during the period. Apple comprises 4.5% of Gradient Capital Advisors LLC's portfolio, making the stock its 2nd largest holding. Gradient Capital Advisors LLC's holdings in Apple were worth $15,176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AAPL. Ryan Investment Management Inc. acquired a new position in shares of Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new stake in Apple during the first quarter worth approximately $58,000. LSV Asset Management acquired a new position in Apple during the fourth quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC bought a new position in shares of Apple in the first quarter valued at approximately $99,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 43,013 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,922 shares of company stock worth $64,320,190. Insiders own 0.06% of the company's stock.

Apple Trading Down 3.5%

AAPL stock opened at $245.27 on Friday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a fifty day moving average price of $237.61 and a 200 day moving average price of $215.88.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. 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. Investors of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is 15.78%.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. Morgan Stanley set a $298.00 target price on shares of Apple and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Moffett Nathanson raised Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. DA Davidson restated a "neutral" rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Rosenblatt Securities raised their price target on shares of Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Finally, Jefferies Financial Group cut Apple from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $205.82 to $205.16 in a research report on Friday, October 3rd. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $248.29.

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.

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