Harrison & Co Wealth Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,879 shares of the iPhone maker’s stock after selling 109 shares during the period. Harrison & Co Wealth Management LLC’s holdings in Apple were worth $394,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cardinal Capital Management Inc. grew its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new position in Apple during the fourth quarter valued at approximately $41,000. CFS Investment Advisory Services LLC grew its holdings in shares of Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares during the last quarter. Spence Asset Management bought a new position in shares of Apple in the second quarter worth approximately $49,000. Finally, HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. 57.72% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on AAPL. Evercore ISI raised their target price on shares of Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday. Bank of America cut their target price on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. UBS Group set a $185.00 target price on shares of Apple in a report on Wednesday, September 14th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a report on Monday, September 12th. Finally, set a $175.00 price target on Apple in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.68.
Insider Buying and Selling
Apple Price Performance
AAPL opened at $152.74 on Friday. The stock has a 50-day moving average price of $160.31 and a 200-day moving average price of $155.83. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market cap of $2.45 trillion, a PE ratio of 25.20, a P/E/G ratio of 2.03 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period last year, the company earned $1.30 EPS. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s payout ratio is 15.18%.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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