Apple Inc. (NASDAQ:AAPL) Shares Purchased by Bar Harbor Wealth Management

Bar Harbor Wealth Management grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,514 shares of the iPhone maker’s stock after purchasing an additional 67 shares during the period. Apple makes up about 3.8% of Bar Harbor Wealth Management’s holdings, making the stock its 3rd largest holding. Bar Harbor Wealth Management’s holdings in Apple were worth $56,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Foresight Capital Management Advisors Inc. increased its stake in Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the period. Hoese & Co LLP grew its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the last quarter. Stableford Capital II LLC increased its position in Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after acquiring an additional 59 shares during the period. Whitcomb & Hess Inc. raised its stake in Apple by 1.7% during the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after acquiring an additional 59 shares during the last quarter. Finally, Kwmg LLC lifted its position in Apple by 0.6% during the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock worth $1,825,000 after acquiring an additional 60 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AAPL shares. TD Cowen boosted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and boosted their price objective for the company from $170.00 to $300.00 in a research note on Monday, July 15th. KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Oppenheimer reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday. Finally, Sanford C. Bernstein raised their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $238.62.

Apple Stock Up 0.0 %

Shares of NASDAQ:AAPL opened at $222.77 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.42 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.60 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The stock’s fifty day simple moving average is $223.22 and its 200-day simple moving average is $198.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by 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.