Apple Inc. (NASDAQ:AAPL) is Harbour Investments Inc.’s 5th Largest Position

Harbour Investments Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,390 shares of the iPhone maker’s stock after purchasing an additional 4,550 shares during the quarter. Apple makes up 2.0% of Harbour Investments Inc.’s holdings, making the stock its 5th largest position. Harbour Investments Inc.’s holdings in Apple were worth $70,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Drystone LLC acquired a new stake in shares of Apple during the fourth quarter worth about $25,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the 3rd quarter worth approximately $71,000. Pillar Financial Advisors LLC acquired a new stake in Apple in the fourth quarter valued at approximately $82,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the third quarter valued at approximately $77,000. Finally, Compass Planning Associates Inc purchased a new position in shares of Apple in the fourth quarter valued at approximately $96,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company’s stock, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 3.0%

Apple stock opened at $195.27 on Monday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week 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 company has a market capitalization of $2.92 trillion, a P/E ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27. The stock has a 50-day simple moving average of $205.04 and a 200-day simple moving average of $225.94.

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

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio is 16.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley restated an “overweight” rating on shares of Apple in a research report on Monday, May 12th. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. UBS Group dropped their price objective on Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Evercore ISI lifted their price objective on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. Finally, Maxim Group boosted their target price on Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.