Oak Harbor Wealth Partners LLC Sells 1,160 Shares of Apple Inc. (NASDAQ:AAPL)

Oak Harbor Wealth Partners LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,195 shares of the iPhone maker’s stock after selling 1,160 shares during the period. Apple accounts for about 4.3% of Oak Harbor Wealth Partners LLC’s portfolio, making the stock its 3rd largest holding. Oak Harbor Wealth Partners LLC’s holdings in Apple were worth $14,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Amara Financial LLC. bought a new stake in shares of Apple during the 3rd quarter worth about $288,000. Simmons Bank lifted its holdings in shares of Apple by 1.6% during the 3rd quarter. Simmons Bank now owns 132,641 shares of the iPhone maker’s stock worth $30,905,000 after acquiring an additional 2,086 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in Apple during the 3rd quarter worth approximately $4,972,000. SYM FINANCIAL Corp increased its position in Apple by 6.3% during the 3rd quarter. SYM FINANCIAL Corp now owns 28,626 shares of the iPhone maker’s stock worth $6,670,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Cardano Risk Management B.V. increased its position in Apple by 2.9% in the 3rd quarter. Cardano Risk Management B.V. now owns 3,723,104 shares of the iPhone maker’s stock valued at $876,483,000 after acquiring an additional 103,856 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction dated 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 of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

AAPL opened at $211.26 on Friday. 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 capitalization of $3.16 trillion, a P/E ratio of 33.53, a P/E/G ratio of 2.44 and a beta of 1.27. The company’s 50-day simple moving average is $206.09 and its two-hundred day simple moving average is $226.66. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last released its 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. The company had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 EPS. As a group, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

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

Apple Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Jefferies Financial Group restated an “underperform” rating and issued a $170.62 price target (up from $167.88) on shares of Apple in a research report on Friday, May 2nd. The Goldman Sachs Group lowered their price objective on shares of Apple from $259.00 to $256.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Rosenblatt Securities downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, DA Davidson increased their target price on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.80.

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.