Apple Inc. (NASDAQ:AAPL) Shares Acquired by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC lifted its position in Apple Inc. (NASDAQ:AAPL) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,443 shares of the iPhone maker’s stock after purchasing an additional 189 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Apple were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Financial Symmetry Inc raised its stake in shares of Apple by 0.5% during the 2nd quarter. Financial Symmetry Inc now owns 11,796 shares of the iPhone maker’s stock worth $2,484,000 after buying an additional 62 shares during the period. CVA Family Office LLC increased its stake in shares of Apple by 7.4% during the second quarter. CVA Family Office LLC now owns 51,628 shares of the iPhone maker’s stock worth $10,874,000 after purchasing an additional 3,573 shares in the last quarter. Hilltop National Bank raised its position in shares of Apple by 1.0% during the 2nd quarter. Hilltop National Bank now owns 41,290 shares of the iPhone maker’s stock worth $8,696,000 after purchasing an additional 409 shares during the last quarter. CWM LLC lifted its stake in Apple by 2.4% in the 2nd quarter. CWM LLC now owns 2,000,264 shares of the iPhone maker’s stock valued at $421,296,000 after buying an additional 45,968 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in Apple by 8.2% in the 2nd quarter. Fiduciary Alliance LLC now owns 160,336 shares of the iPhone maker’s stock worth $35,317,000 after buying an additional 12,086 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $259.02 on Friday. The company has a market cap of $3.92 trillion, a price-to-earnings ratio of 42.60, a price-to-earnings-growth 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. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a fifty day simple moving average of $237.00 and a two-hundred day simple moving average of $227.21.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock worth $117,004,745 over the last 90 days. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. Wells Fargo & Company raised their target price on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Citigroup lifted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. UBS Group reissued a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Finally, 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. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.47.

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.