Apple Inc. (NASDAQ:AAPL) Stake Lessened by Harbor Island Capital LLC

Harbor Island Capital LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,285 shares of the iPhone maker’s stock after selling 403 shares during the period. Apple accounts for approximately 11.7% of Harbor Island Capital LLC’s portfolio, making the stock its 3rd largest position. Harbor Island Capital LLC’s holdings in Apple were worth $24,362,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Drystone LLC bought a new position in shares of Apple in the 4th quarter worth about $25,000. Bull Oak Capital LLC grew its holdings in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new position in shares of Apple during the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple during the third quarter valued at approximately $77,000. Finally, ARK Investment Management LLC purchased a new position in shares of Apple during the third quarter valued at approximately $110,000. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total value of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $188.38 on Monday. The stock’s fifty day moving average is $229.45 and its 200 day moving average is $233.16. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a market cap of $2.83 trillion, a P/E ratio of 29.90, a P/E/G ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. Apple’s payout ratio is currently 15.87%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Sanford C. Bernstein upped their price target on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley cut their target price on Apple from $275.00 to $252.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Tigress Financial lifted their price target on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $325.00 price objective on shares of Apple in a research report on Friday, March 14th. Finally, Barclays raised their price objective on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.26.

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.