Harrison & Co Wealth Management LLC Has $394,000 Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Harrison & Co Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,879 shares of the iPhone maker’s stock after selling 109 shares during the period. Harrison & Co Wealth Management LLC’s holdings in Apple were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Elk River Wealth Management LLC lifted its position in shares of Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Apple by 8.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after purchasing an additional 5,703 shares during the period. Piscataqua Savings Bank lifted its position in shares of Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Apple during the 1st quarter valued at $171,000. Finally, Chico Wealth RIA acquired a new position in shares of Apple during the 1st quarter valued at $7,794,000. Institutional investors and hedge funds own 57.72% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AAPL shares. Rosenblatt Securities dropped their target price on shares of Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Evercore ISI boosted their target price on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday, September 12th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday, August 1st. Finally, Oppenheimer restated an “outperform” rating and set a $190.00 price target on shares of Apple in a research note on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.68.

Apple Price Performance

NASDAQ AAPL opened at $152.74 on Friday. The company has a market cap of $2.45 trillion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.03 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 simple moving average is $160.31 and its two-hundred day simple moving average is $155.83.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data 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 business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. Research analysts predict that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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