Apple Inc. (NASDAQ:AAPL) is Marble Harbor Investment Counsel LLC’s 2nd Largest Position

Marble Harbor Investment Counsel LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,962 shares of the iPhone maker’s stock after selling 1,826 shares during the quarter. Apple accounts for about 6.3% of Marble Harbor Investment Counsel LLC’s investment portfolio, making the stock its 2nd biggest holding. Marble Harbor Investment Counsel LLC’s holdings in Apple were worth $48,309,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. MKT Advisors LLC lifted its stake in shares of Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 60 shares during the period. Aspire Capital Advisors LLC raised its stake in Apple by 0.5% during the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after purchasing an additional 64 shares during the period. Freedom Wealth Alliance LLC raised its stake in Apple by 0.4% during the first quarter. Freedom Wealth Alliance LLC now owns 16,091 shares of the iPhone maker’s stock worth $2,653,000 after purchasing an additional 67 shares during the period. Adaptive Financial Consulting LLC raised its stake in Apple by 2.7% during the fourth quarter. Adaptive Financial Consulting LLC now owns 2,606 shares of the iPhone maker’s stock worth $339,000 after purchasing an additional 68 shares during the period. Finally, PFG Private Wealth Management LLC raised its stake in Apple by 0.9% during the first quarter. PFG Private Wealth Management LLC now owns 7,644 shares of the iPhone maker’s stock worth $1,260,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Apple from $190.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 1st. Credit Suisse Group raised their price target on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Evercore ISI raised their price objective on shares of Apple from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, June 5th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Apple in a report on Friday, August 4th. Finally, Wells Fargo & Company raised their price target on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.86.

Apple Stock Up 0.1 %

Apple stock opened at $189.70 on Wednesday. The firm has a market cap of $2.97 trillion, a PE ratio of 31.88, a P/E/G ratio of 2.76 and a beta of 1.27. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The firm’s 50 day moving average price is $186.94 and its two-hundred day moving average price is $174.00. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. The company had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. On average, research analysts predict that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.

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.