Harbour Trust & Investment Management Co Has $52.56 Million Stake in Apple Inc. (NASDAQ:AAPL)

Harbour Trust & Investment Management Co cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,588 shares of the iPhone maker’s stock after selling 5,543 shares during the period. Apple accounts for approximately 6.0% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 2nd largest position. Harbour Trust & Investment Management Co’s holdings in Apple were worth $52,562,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Tigress Financial increased their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Barclays cut their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Finally, Bank of America increased their price target on shares of Apple to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Trading Up 0.3 %

AAPL opened at $255.27 on Tuesday. The business has a fifty day moving average price of $234.97 and a 200 day moving average price of $225.91. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 41.99, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $255.65. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

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

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’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 sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’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 transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by corporate insiders.

About Apple

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.