Apple Inc. $AAPL is Bar Harbor Wealth Management’s 5th Largest Position

Bar Harbor Wealth Management reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 2.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,654 shares of the iPhone maker’s stock after selling 6,593 shares during the period. Apple makes up 3.2% of Bar Harbor Wealth Management’s portfolio, making the stock its 5th largest holding. Bar Harbor Wealth Management’s holdings in Apple were worth $50,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GGM Financials LLC grew its stake in shares of Apple by 110.7% in the 2nd quarter. GGM Financials LLC now owns 15,585 shares of the iPhone maker’s stock worth $3,198,000 after buying an additional 8,189 shares in the last quarter. H&H Retirement Design & Management INC grew its stake in shares of Apple by 45.8% in the 2nd quarter. H&H Retirement Design & Management INC now owns 3,187 shares of the iPhone maker’s stock worth $677,000 after buying an additional 1,001 shares in the last quarter. Dohj LLC grew its stake in shares of Apple by 1.9% in the 2nd quarter. Dohj LLC now owns 24,075 shares of the iPhone maker’s stock worth $4,926,000 after buying an additional 459 shares in the last quarter. Castle Rock Wealth Management LLC grew its stake in shares of Apple by 5.5% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 57,286 shares of the iPhone maker’s stock worth $12,216,000 after buying an additional 3,010 shares in the last quarter. Finally, Morton Capital Management LLC CA grew its stake in shares of Apple by 3.4% in the 2nd quarter. Morton Capital Management LLC CA now owns 60,797 shares of the iPhone maker’s stock worth $12,474,000 after buying an additional 2,000 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AAPL. Wells Fargo & Company set a $300.00 price objective on shares of Apple and gave the stock an “overweight” rating in a research note on Friday. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $226.00 to $315.00 in a research note on Monday, October 20th. Tigress Financial lifted their price target on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Monday, October 27th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $276.39.

Apple Price Performance

AAPL stock opened at $270.37 on Friday. The stock has a market cap of $4.01 trillion, a PE ratio of 41.03, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The company has a 50-day moving average price of $248.34 and a 200 day moving average price of $222.15.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 EPS. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s payout ratio is 15.78%.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 259,121 shares of company stock valued at $65,358,981 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.