K.J. Harrison & Partners Inc Boosts Stake in Apple Inc. (NASDAQ:AAPL)

K.J. Harrison & Partners Inc lifted its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 212,089 shares of the iPhone maker’s stock after purchasing an additional 19,613 shares during the period. Apple accounts for approximately 10.4% of K.J. Harrison & Partners Inc’s holdings, making the stock its largest holding. K.J. Harrison & Partners Inc’s holdings in Apple were worth $29,311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Bluestem Financial Advisors LLC raised its stake in Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after buying an additional 229,929 shares during the period. Spence Asset Management acquired a new stake in Apple during the 2nd quarter worth $49,000. HBC Financial Services PLLC raised its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. Ramsey Quantitative Systems acquired a new stake in Apple during the 2nd quarter worth $55,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Apple during the 3rd quarter worth $55,000. 57.60% of the stock is currently owned by institutional investors.

Apple Stock Up 1.0 %

NASDAQ AAPL opened at $134.76 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The company has a 50 day moving average of $139.33 and a 200-day moving average of $148.32. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.74 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 6.19 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 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.68%. Apple’s dividend payout ratio is currently 15.06%.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Robert W. Baird dropped their price target on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Sanford C. Bernstein dropped their price target on Apple from $170.00 to $125.00 in a research note on Monday, January 9th. Evercore ISI lifted their price target on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, September 20th. DA Davidson lowered their target price on Apple to $167.00 in a research report on Thursday, December 1st. Finally, Wedbush lowered their target price on Apple from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.22.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Profile

(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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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