Apple Inc. (NASDAQ:AAPL) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 266,962 shares of the iPhone maker’s stock after selling 3,308 shares during the quarter. Apple makes up about 7.4% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its biggest position. Marble Harbor Investment Counsel LLC’s holdings in Apple were worth $66,853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Crossmark Global Holdings Inc. grew its position in Apple by 5.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 893,993 shares of the iPhone maker’s stock worth $208,301,000 after purchasing an additional 48,053 shares during the last quarter. Maiden Cove Capital LLC bought a new position in shares of Apple in the third quarter worth about $2,356,000. Stockman Wealth Management Inc. raised its stake in shares of Apple by 1.3% in the third quarter. Stockman Wealth Management Inc. now owns 102,466 shares of the iPhone maker’s stock worth $23,875,000 after acquiring an additional 1,357 shares during the last quarter. 1900 Wealth Management LLC raised its stake in shares of Apple by 2.3% in the third quarter. 1900 Wealth Management LLC now owns 29,894 shares of the iPhone maker’s stock worth $6,965,000 after acquiring an additional 672 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its position in shares of Apple by 25.8% during the 3rd quarter. Ashton Thomas Securities LLC now owns 35,109 shares of the iPhone maker’s stock worth $8,180,000 after buying an additional 7,196 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.1%

AAPL opened at $211.26 on Friday. The company’s 50 day moving average is $206.09 and its 200-day moving average is $226.66. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market cap of $3.16 trillion, a P/E ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same quarter last year, the business earned $1.53 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is currently 16.20%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction 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 trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,507 shares of company stock worth $42,694,080. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Raymond James lowered their price target on shares of Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. DA Davidson boosted their price objective on shares of Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Rosenblatt Securities cut shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. The Goldman Sachs Group cut their price objective on shares of Apple from $259.00 to $256.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, TD Cowen dropped their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.80.

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.