Hartline Investment Corp Has $56.35 Million Holdings in Apple Inc. $AAPL

Hartline Investment Corp lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,665 shares of the iPhone maker’s stock after selling 8,860 shares during the quarter. Apple accounts for 7.5% of Hartline Investment Corp’s investment portfolio, making the stock its 3rd largest holding. Hartline Investment Corp’s holdings in Apple were worth $56,347,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Life Planning Partners Inc bought a new stake in Apple during the fourth quarter worth $47,000. Conquis Financial LLC bought a new stake in Apple during the fourth quarter worth $63,000. LSV Asset Management bought a new stake in Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC bought a new stake in Apple during the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple during the fourth quarter worth $96,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 2.0%

Shares of NASDAQ AAPL opened at $226.01 on Thursday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business has a 50-day simple moving average of $211.38 and a two-hundred day simple moving average of $213.15. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.35 trillion, a P/E ratio of 34.30, a P/E/G ratio of 2.41 and a beta of 1.16.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent research reports. UBS Group upped their price target on Apple from $210.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Bank of America raised their target price on Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Evercore ISI reiterated an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Wednesday, August 13th. Scotiabank downgraded Apple to a “market perform” rating in a research note on Friday, May 2nd. Finally, Citigroup increased their price target on Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.60.

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.