Apple Inc. (NASDAQ:AAPL) is Marble Harbor Investment Counsel LLC’s 2nd Largest Position

Marble Harbor Investment Counsel LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,536 shares of the iPhone maker’s stock after selling 1,432 shares during the quarter. Apple comprises approximately 6.8% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 2nd largest holding. Marble Harbor Investment Counsel LLC’s holdings in Apple were worth $57,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors lifted its position in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. American Century Companies Inc. raised its position in shares of Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after acquiring an additional 485,873 shares during the last quarter. Swedbank AB grew its position in Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after acquiring an additional 2,594,138 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $222.91 on Friday. The firm has a 50 day moving average of $227.18 and a 200 day moving average of $212.33. 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 $3.39 trillion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.49 by $0.15. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 15.22%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 in the last 90 days. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AAPL shares. Bank of America reaffirmed a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Raymond James raised their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Finally, Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

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.