Apple Inc. (NASDAQ:AAPL) Stake Reduced by Harrington Investments INC

Harrington Investments INC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,280 shares of the iPhone maker’s stock after selling 1,904 shares during the quarter. Apple accounts for about 8.4% of Harrington Investments INC’s portfolio, making the stock its largest holding. Harrington Investments INC’s holdings in Apple were worth $15,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its position in Apple by 127.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after acquiring an additional 42,282 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Apple by 176.2% in the 1st quarter. Meeder Asset Management Inc. now owns 75,737 shares of the iPhone maker’s stock valued at $12,987,000 after purchasing an additional 48,312 shares during the period. Meeder Advisory Services Inc. boosted its holdings in Apple by 1.4% during the first quarter. Meeder Advisory Services Inc. now owns 241,410 shares of the iPhone maker’s stock worth $41,397,000 after buying an additional 3,442 shares in the last quarter. Donoghue Forlines LLC grew its position in Apple by 45.1% during the first quarter. Donoghue Forlines LLC now owns 19,705 shares of the iPhone maker’s stock valued at $3,379,000 after buying an additional 6,124 shares during the period. Finally, Delta Financial Advisors LLC raised its position in shares of Apple by 1.4% in the first quarter. Delta Financial Advisors LLC now owns 70,399 shares of the iPhone maker’s stock worth $12,072,000 after acquiring an additional 968 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AAPL shares. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday. Moffett Nathanson dropped their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Finally, Evercore ISI reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $243.01 on Thursday. The company has a market capitalization of $3.67 trillion, a P/E ratio of 39.97, a P/E/G ratio of 2.35 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $244.11. The stock’s fifty day moving average is $229.92 and its two-hundred day moving average is $220.90.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s payout ratio is currently 16.45%.

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.