Harrell Investment Partners LLC Increases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Harrell Investment Partners LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the 4th quarter, Holdings Channel reports. The fund owned 105,586 shares of the iPhone maker’s stock after purchasing an additional 347 shares during the period. Apple comprises approximately 6.3% of Harrell Investment Partners LLC’s holdings, making the stock its largest position. Harrell Investment Partners LLC’s holdings in Apple were worth $20,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wyrmwood Management LLC boosted its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Atlantic Private Wealth LLC acquired a new stake in shares of Apple in the 1st quarter worth $30,000. Gilfoyle & Co LLC boosted its position in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. Cheyne Capital Management UK LLP lifted its position in Apple by 200.0% during the 3rd 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. Finally, HBC Financial Services PLLC lifted its position 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 acquiring an additional 80 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.6 %

AAPL opened at $167.04 on Friday. Apple Inc. has a one year low of $162.80 and a one year high of $199.62. The stock has a market capitalization of $2.58 trillion, a PE ratio of 26.02, a P/E/G ratio of 2.04 and a beta of 1.27. The business’s 50 day moving average price is $175.15 and its 200 day moving average price is $182.10. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 6.54 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is 14.95%.

Analyst Upgrades and Downgrades

A number of analysts have commented on AAPL shares. Robert W. Baird lifted their price target on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Piper Sandler Companies cut Apple to a “neutral” rating and decreased their price objective for the company from $220.00 to $205.00 in a report on Thursday, January 4th. Oppenheimer reissued an “outperform” rating and issued a $200.00 price objective on shares of Apple in a report on Friday, February 2nd. Wedbush restated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, April 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Apple in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $203.34.

Apple Company 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.