Haverford Trust Co Has $582.94 Million Position in Apple Inc. (NASDAQ:AAPL)

Haverford Trust Co cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,501,882 shares of the iPhone maker’s stock after selling 1,555 shares during the period. Apple accounts for 5.7% of Haverford Trust Co’s holdings, making the stock its largest position. Haverford Trust Co’s holdings in Apple were worth $582,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC grew its position in shares of Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after purchasing an additional 2,361 shares in the last quarter. Fifth Third Bancorp grew its position in Apple by 0.8% in the second quarter. Fifth Third Bancorp now owns 6,202,902 shares of the iPhone maker’s stock valued at $1,306,455,000 after acquiring an additional 48,719 shares during the last quarter. Oak Harvest Investment Services lifted its stake in Apple by 3.1% in the 2nd quarter. Oak Harvest Investment Services now owns 124,883 shares of the iPhone maker’s stock valued at $26,303,000 after purchasing an additional 3,727 shares during the last quarter. Centennial Wealth Advisory LLC boosted its holdings in shares of Apple by 5.6% during the 2nd quarter. Centennial Wealth Advisory LLC now owns 28,773 shares of the iPhone maker’s stock valued at $6,060,000 after acquiring an additional 1,529 shares in the last quarter. Finally, Geneva Partners LLC grew its holdings in shares of Apple by 2,181.9% during the second quarter. Geneva Partners LLC now owns 63,826 shares of the iPhone maker’s stock worth $13,443,000 after purchasing an additional 61,029 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $229.98 on Tuesday. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20. The firm has a fifty day moving average price of $241.01 and a 200 day moving average price of $230.79. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. 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 released 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 business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AAPL shares. Citigroup upped their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays boosted their price objective on Apple to $184.00 and gave the company a “sell” rating in a report on Friday, January 10th. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price target (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Sanford C. Bernstein boosted their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.85.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by 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.