Harvey Investment Co. LLC Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Harvey Investment Co. LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,548 shares of the iPhone maker’s stock after selling 177 shares during the period. Harvey Investment Co. LLC’s holdings in Apple were worth $3,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AAPL. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter valued at $42,000. Christopher J. Hasenberg Inc raised its position in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. Cordant Inc. lifted its stake in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the last quarter. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new stake in Apple during the second quarter valued at about $206,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AAPL shares. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Oppenheimer restated a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Evercore ISI restated a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Finally, Wells Fargo & Company increased their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock worth $117,004,745 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

NASDAQ:AAPL opened at $254.49 on Friday. 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 $255.00. The stock’s 50-day moving average price is $234.97 and its 200-day moving average price is $225.70. The stock has a market capitalization of $3.85 trillion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. As a group, equities analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

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.