Apple Inc. $AAPL Position Lessened by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,156 shares of the iPhone maker’s stock after selling 562 shares during the quarter. Apple comprises about 2.2% of Flagship Harbor Advisors LLC’s holdings, making the stock its 7th largest position. Flagship Harbor Advisors LLC’s holdings in Apple were worth $46,400,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC increased its position in shares of Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the last quarter. Nuveen LLC bought a new position in shares of Apple in the 1st quarter worth $17,472,482,000. Northern Trust Corp raised its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Amundi raised its position in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after buying an additional 14,651,321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AAPL shares. Citigroup restated a “buy” rating and set a $315.00 price target (up previously from $245.00) on shares of Apple in a research report on Friday, October 31st. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a report on Thursday, September 11th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Finally, Melius Research set a $345.00 price target on shares of Apple in a research note on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Insider Buying and Selling

In other news, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the sale, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 228,052 shares of company stock valued at $58,604,588 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $278.63 on Friday. 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 $280.38. The firm has a market cap of $4.12 trillion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The business has a 50 day moving average price of $263.27 and a 200-day moving average price of $231.72.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.64 EPS. Equities research 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, November 13th. Stockholders of record on Monday, November 10th were issued 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, November 10th. Apple’s dividend payout ratio is currently 13.92%.

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.