Harbor Capital Advisors Inc. Invests $171,000 in Apple Inc. (NASDAQ:AAPL)

Harbor Capital Advisors Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) in the first quarter, Holdings Channel.com reports. The fund bought 980 shares of the iPhone maker’s stock, valued at approximately $171,000.

A number of other large investors have also modified their holdings of AAPL. Regentatlantic Capital LLC boosted its position in shares of Apple by 1.3% during the 4th quarter. Regentatlantic Capital LLC now owns 917,766 shares of the iPhone maker’s stock valued at $162,968,000 after acquiring an additional 11,718 shares during the last quarter. Uncommon Cents Investing LLC boosted its position in shares of Apple by 0.6% during the 4th quarter. Uncommon Cents Investing LLC now owns 13,460 shares of the iPhone maker’s stock valued at $2,390,000 after acquiring an additional 86 shares during the last quarter. Brown Financial Advisory acquired a new position in shares of Apple during the 4th quarter valued at about $273,000. Vishria Bird Financial Group LLC boosted its position in shares of Apple by 1.5% during the 4th quarter. Vishria Bird Financial Group LLC now owns 105,838 shares of the iPhone maker’s stock valued at $18,794,000 after acquiring an additional 1,558 shares during the last quarter. Finally, Seascape Capital Management boosted its position in shares of Apple by 1.1% during the 4th quarter. Seascape Capital Management now owns 37,052 shares of the iPhone maker’s stock valued at $6,579,000 after acquiring an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $166.13 on Thursday. The firm has a market capitalization of $2.69 trillion, a P/E ratio of 27.41, a P/E/G ratio of 2.09 and a beta of 1.23. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The firm’s 50 day moving average is $145.58 and its two-hundred day moving average is $157.20.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. Research analysts forecast that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.55%. Apple’s dividend payout ratio is currently 15.18%.

Apple declared that its Board of Directors has initiated a share repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAPL. Wells Fargo & Company lowered their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Itaú Unibanco initiated coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Bank of America decreased their target price on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday, July 25th. Finally, Citigroup upped their target price on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.21.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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