Grimes & Company Inc. Has $78.44 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Grimes & Company Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 407,409 shares of the iPhone maker’s stock after purchasing an additional 4,948 shares during the quarter. Apple accounts for about 2.6% of Grimes & Company Inc.’s portfolio, making the stock its 9th largest position. Grimes & Company Inc.’s holdings in Apple were worth $78,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AAPL. International Assets Investment Management LLC increased its holdings in Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Apple during the fourth quarter worth about $560,388,000. Hudson Bay Capital Management LP bought a new stake in shares of Apple during the third quarter worth about $487,435,000. Barclays PLC increased its stake in shares of Apple by 6.0% in the third quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after buying an additional 2,826,709 shares during the period. Finally, Morgan Stanley raised its holdings in Apple by 1.0% in the 3rd quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock valued at $35,394,751,000 after buying an additional 2,018,010 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AAPL shares. Oppenheimer reissued an “outperform” rating and set a $200.00 target price on shares of Apple in a report on Friday, February 2nd. Redburn Atlantic lowered Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 10th. Barclays reiterated an “underweight” rating and set a $158.00 price objective on shares of Apple in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Finally, Citigroup lowered their price objective on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $202.62.

Apple Trading Up 2.5 %

Shares of AAPL stock opened at $173.50 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a 50-day simple moving average of $172.86 and a two-hundred day simple moving average of $181.77. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 earnings per share. Research analysts anticipate that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Friday, February 9th. Apple’s payout ratio is 14.95%.

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.