Hartford Financial Management Inc. Sells 972 Shares of Apple Inc. (NASDAQ:AAPL)

Hartford Financial Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,434 shares of the iPhone maker’s stock after selling 972 shares during the period. Apple makes up about 3.0% of Hartford Financial Management Inc.’s portfolio, making the stock its 2nd biggest holding. Hartford Financial Management Inc.’s holdings in Apple were worth $12,110,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC bought a new position in Apple during the first quarter worth about $30,000. Cheyne Capital Management UK LLP increased its position in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares during the period. HBC Financial Services PLLC increased its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the period. Clear Perspectives Financial Planning LLC increased its position in Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after acquiring an additional 211 shares during the period. Finally, NNS Holding bought a new position in Apple during the second quarter worth about $193,000. 58.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AAPL. Deutsche Bank Aktiengesellschaft raised their target price on shares of Apple from $180.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 24th. TD Cowen raised their target price on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Credit Suisse Group reissued an “outperform” rating and issued a $220.00 target price on shares of Apple in a report on Friday, September 15th. Oppenheimer decreased their target price on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Finally, Canaccord Genuity Group raised their target price on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $197.82.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $23,483,548.95. The disclosure for this sale can be found here. Insiders have sold 455,004 shares of company stock valued at $79,238,767 in the last three months. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL opened at $176.65 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market capitalization of $2.76 trillion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 2.42 and a beta of 1.30. The firm’s fifty day moving average price is $176.80 and its two-hundred day moving average price is $179.38. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The firm had revenue of $89.50 billion for the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS. As a group, analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is 16.13%.

Apple Profile

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.