Apple Inc. $AAPL Holdings Lifted by Oriental Harbor Investment Fund

Oriental Harbor Investment Fund increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 37.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 516,801 shares of the iPhone maker’s stock after purchasing an additional 141,045 shares during the quarter. Apple makes up about 12.7% of Oriental Harbor Investment Fund’s holdings, making the stock its 3rd biggest position. Oriental Harbor Investment Fund’s holdings in Apple were worth $114,797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alaethes Wealth LLC boosted its holdings in Apple by 3.6% during the first quarter. Alaethes Wealth LLC now owns 58,823 shares of the iPhone maker’s stock worth $13,066,000 after purchasing an additional 2,065 shares during the last quarter. Smith Asset Management Co. LLC purchased a new position in Apple during the first quarter worth about $1,609,000. Legacy Advisory Services LLC purchased a new position in Apple in the first quarter valued at about $553,000. Optimize Financial Inc purchased a new position in Apple in the first quarter valued at about $1,980,000. Finally, Woodline Partners LP boosted its stake in Apple by 43.3% in the first quarter. Woodline Partners LP now owns 1,269,171 shares of the iPhone maker’s stock valued at $281,921,000 after acquiring an additional 383,542 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. Morgan Stanley set a $240.00 target price on shares of Apple and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. HSBC set a $220.00 target price on shares of Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Barclays boosted their target price on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Citigroup reiterated a “buy” rating on shares of Apple in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.80.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $234.07 on Friday. The company’s 50 day moving average is $221.50 and its 200-day moving average is $212.20. 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 firm has a market cap of $3.47 trillion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is 15.78%.

About Apple

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.