Apple Inc. (NASDAQ:AAPL) Holdings Reduced by Bar Harbor Wealth Management

Bar Harbor Wealth Management lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 263,013 shares of the iPhone maker’s stock after selling 6,501 shares during the period. Apple comprises about 3.9% of Bar Harbor Wealth Management’s portfolio, making the stock its 3rd largest holding. Bar Harbor Wealth Management’s holdings in Apple were worth $61,282,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. High Net Worth Advisory Group LLC raised its position in shares of Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares during the period. Granite Investment Partners LLC increased its stake in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp boosted its position in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its holdings in Apple by 15.2% in the third quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 0.4 %

Apple stock opened at $247.77 on Wednesday. The firm has a market capitalization of $3.75 trillion, a P/E ratio of 40.75, a P/E/G ratio of 2.38 and a beta of 1.23. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $248.21. The stock’s fifty day simple moving average is $230.80 and its 200-day simple moving average is $222.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (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 analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. As a group, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Activity

In other news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on AAPL. Maxim Group boosted their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Melius Research reaffirmed a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

About Apple

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.