Harrington Investments INC Reduces Stock Holdings in Apple Inc. $AAPL

Harrington Investments INC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,615 shares of the iPhone maker’s stock after selling 522 shares during the period. Apple makes up approximately 6.9% of Harrington Investments INC’s portfolio, making the stock its 2nd biggest holding. Harrington Investments INC’s holdings in Apple were worth $13,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ryan Investment Management Inc. bought a new stake in shares of Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its holdings in 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 buying an additional 180 shares during the last quarter. Conquis Financial LLC purchased a new stake in Apple during the fourth quarter worth about $63,000. LSV Asset Management bought a new stake in Apple in the fourth quarter worth about $65,000. Finally, Elite Financial Inc. purchased a new position in Apple in the first quarter valued at about $58,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.7%

Shares of NASDAQ:AAPL opened at $257.13 on Friday. The firm has a fifty day moving average price of $232.20 and a two-hundred day moving average price of $214.38. The company has a market cap of $3.82 trillion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.48 and a beta of 1.09. 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 Inc. has a one year low of $169.21 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share 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 analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 earnings per share. Analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

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 value of $7,772,047.20. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AAPL shares. UBS Group restated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. Tigress Financial boosted their target price on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Loop Capital dropped their price target on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.51.

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.