Harvey Investment Co. LLC Sells 56 Shares of Apple Inc. (NASDAQ:AAPL)

Harvey Investment Co. LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,725 shares of the iPhone maker’s stock after selling 56 shares during the quarter. Harvey Investment Co. LLC’s holdings in Apple were worth $2,891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Disciplined Equity Management Inc. raised its position in Apple by 879.6% during the 4th quarter. Disciplined Equity Management Inc. now owns 7,210 shares of the iPhone maker’s stock worth $1,388,000 after purchasing an additional 6,474 shares during the last quarter. Lyell Wealth Management LP increased its position in Apple by 7.7% during the 4th quarter. Lyell Wealth Management LP now owns 178,057 shares of the iPhone maker’s stock valued at $34,281,000 after purchasing an additional 12,804 shares during the period. Channing Global Advisors LLC raised its holdings in Apple by 1.1% during the 4th quarter. Channing Global Advisors LLC now owns 14,943 shares of the iPhone maker’s stock worth $2,877,000 after purchasing an additional 167 shares during the last quarter. Stack Financial Management Inc bought a new position in Apple during the 4th quarter worth approximately $212,000. Finally, Pittenger & Anderson Inc. lifted its position in shares of Apple by 0.3% in the 4th quarter. Pittenger & Anderson Inc. now owns 240,954 shares of the iPhone maker’s stock worth $46,391,000 after purchasing an additional 761 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 in the last quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAPL. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Tuesday, September 10th. TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, September 5th. KeyCorp restated a “hold” rating and set a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Finally, Citigroup reiterated a “buy” rating and issued a $255.00 price objective on shares of Apple in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Trading Down 0.8 %

NASDAQ:AAPL opened at $226.47 on Tuesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $222.25 and its 200 day moving average is $200.82. The stock has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Sell-side analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.