Apple Inc. (NASDAQ:AAPL) is Everett Harris & Co. CA’s 2nd Largest Position

Everett Harris & Co. CA cut its position in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,373,933 shares of the iPhone maker’s stock after selling 29,755 shares during the period. Apple makes up about 12.6% of Everett Harris & Co. CA’s investment portfolio, making the stock its 2nd largest holding. Everett Harris & Co. CA’s holdings in Apple were worth $1,019,126,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew 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 buying an additional 42,282 shares during the period. Arjuna Capital grew its position in Apple by 2.5% during the first quarter. Arjuna Capital now owns 137,393 shares of the iPhone maker’s stock valued at $23,560,000 after buying an additional 3,321 shares during the period. Lake Street Advisors Group LLC grew its position in Apple by 54.6% during the first quarter. Lake Street Advisors Group LLC now owns 209,343 shares of the iPhone maker’s stock valued at $35,898,000 after buying an additional 73,909 shares during the period. Vaughan David Investments LLC IL grew its position in Apple by 7.9% during the first quarter. Vaughan David Investments LLC IL now owns 37,490 shares of the iPhone maker’s stock valued at $6,429,000 after buying an additional 2,746 shares during the period. Finally, Oxford Financial Group LTD. LLC grew its position in Apple by 0.5% during the first quarter. Oxford Financial Group LTD. LLC now owns 134,403 shares of the iPhone maker’s stock valued at $23,047,000 after buying an additional 696 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $248.13 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $250.80. The company has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.41 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. The firm’s fifty day moving average is $232.50 and its 200 day moving average is $223.41.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Rosenblatt Securities boosted their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Friday. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Apple in a research report on Friday, November 29th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by company insiders.

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.