Harbour Capital Advisors LLC Has $13.08 Million Stake in Apple Inc. $AAPL

Harbour Capital Advisors LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 61,566 shares of the iPhone maker’s stock after selling 953 shares during the period. Apple accounts for about 2.8% of Harbour Capital Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Harbour Capital Advisors LLC’s holdings in Apple were worth $13,079,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the second quarter worth about $31,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth about $47,000. Elite Financial Inc. purchased a new stake in shares of Apple during the first quarter worth about $58,000. Finally, Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter worth about $63,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $254.43 on Tuesday. The firm has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.61, a PEG ratio of 2.65 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The business has a 50 day simple moving average of $229.71 and a 200-day simple moving average of $213.51. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during 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%.The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company earned $1.40 EPS. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AAPL. HSBC set a $220.00 target price on Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. increased their target price on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Jefferies Financial Group increased their price target on Apple from $190.67 to $205.82 and gave the company a “hold” rating in a research note on Monday, September 8th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Melius Research set a $290.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $245.66.

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.