Harbor Investment Advisory LLC Sells 288 Shares of Apple Inc. (NASDAQ:AAPL)

Harbor Investment Advisory LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 364,195 shares of the iPhone maker’s stock after selling 288 shares during the period. Apple accounts for approximately 7.2% of Harbor Investment Advisory LLC’s portfolio, making the stock its 2nd biggest position. Harbor Investment Advisory LLC’s holdings in Apple were worth $66,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC lifted its position in Apple by 69.0% in 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. Gilfoyle & Co LLC raised its stake in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp raised its stake in shares of Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares during the period. Cordant Inc. lifted its holdings in shares of Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after purchasing an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new position in shares of Apple during the fourth quarter worth about $132,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 0.9 %

AAPL opened at $181.71 on Tuesday. The stock has a market capitalization of $2.81 trillion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.21 and a beta of 1.26. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The company has a 50-day simple moving average of $172.18 and a 200 day simple moving average of $181.72.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. Analysts predict that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is currently 14.93%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $84,378,155.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction that occurred 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 sale, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,271 shares of company stock valued at $63,653,887. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group lifted their target price on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday. Redburn Atlantic lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, January 10th. Citigroup decreased their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Monness Crespi & Hardt lifted their price target on shares of Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday. Finally, Piper Sandler reduced their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $204.11.

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.