Harbor Capital Advisors Inc. Sells 458 Shares of Apple Inc. $AAPL

Harbor Capital Advisors Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,226 shares of the iPhone maker’s stock after selling 458 shares during the quarter. Apple accounts for approximately 0.7% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 15th largest holding. Harbor Capital Advisors Inc.’s holdings in Apple were worth $16,460,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Burkett Financial Services LLC increased its holdings in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after acquiring an additional 93 shares during the period. Avid Wealth Partners LLC boosted its position in Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its position in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares in the last quarter. OneAscent Wealth Management LLC grew its stake in Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after purchasing an additional 409 shares during the last quarter. Finally, Andina Capital Management LLC raised its holdings in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AAPL shares. UBS Group restated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Tigress Financial increased their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 17th. Bank of America raised their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Monness Crespi & Hardt upped their price target on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Evercore ISI increased their price objective on Apple from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $244.03.

Apple Price Performance

Shares of AAPL opened at $256.08 on Tuesday. The business’s 50-day moving average is $225.30 and its two-hundred day moving average is $212.22. The company has a market capitalization of $3.80 trillion, a P/E ratio of 38.86, a P/E/G ratio of 2.55 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last posted 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. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. Research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’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 $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 link. 0.06% of the stock is owned by insiders.

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.