Apple Inc. (NASDAQ:AAPL) is Harbour Investment Management LLC’s 3rd Largest Position

Harbour Investment Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,603 shares of the iPhone maker’s stock after selling 515 shares during the period. Apple comprises about 5.3% of Harbour Investment Management LLC’s investment portfolio, making the stock its 3rd largest position. Harbour Investment Management LLC’s holdings in Apple were worth $12,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Cordant Inc. boosted its holdings in 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 during the period. Finally, EMC Capital Management increased its stake in Apple by 7.3% during the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock valued at $201,000 after purchasing an additional 61 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 0.7 %

Apple stock opened at $245.00 on Tuesday. The firm has a market cap of $3.70 trillion, a price-to-earnings ratio of 40.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The firm’s 50 day moving average price is $239.15 and its two-hundred day moving average price is $229.33. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Friday, December 13th. Loop Capital cut their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their target price on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two equities research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $238.03.

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.