Apple Inc. (NASDAQ:AAPL) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,285 shares of the iPhone maker’s stock after selling 2,303 shares during the period. Apple accounts for approximately 6.4% of Harbour Trust & Investment Management Co’s holdings, making the stock its 2nd largest position. Harbour Trust & Investment Management Co’s holdings in Apple were worth $55,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Drystone LLC bought a new position in shares of Apple during the 4th quarter worth approximately $25,000. Bull Oak Capital LLC lifted its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the third quarter valued at about $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the 3rd quarter worth about $110,000. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock valued at $40,818,720 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ AAPL opened at $198.15 on Friday. The firm’s fifty day moving average price is $222.87 and its two-hundred day moving average price is $231.14. The stock has a market cap of $2.98 trillion, a PE ratio of 31.45, a PEG ratio of 2.44 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.50%. Apple’s dividend payout ratio is presently 15.87%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America decreased their price target on shares of Apple from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Citigroup reissued a “buy” rating on shares of Apple in a report on Wednesday, April 2nd. Barclays upped their price objective on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, Evercore ISI lifted their target price on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.26.

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.