Bar Harbor Wealth Management Cuts Position in Apple Inc. (NASDAQ:AAPL)

Bar Harbor Wealth Management reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,384 shares of the iPhone maker’s stock after selling 6,316 shares during the period. Apple accounts for about 3.6% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 3rd largest holding. Bar Harbor Wealth Management’s holdings in Apple were worth $41,790,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AAPL. MKT Advisors LLC lifted its holdings in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares in the last quarter. Your Advocates Ltd. LLP lifted its holdings in shares of Apple by 1.0% in the second quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock worth $867,000 after buying an additional 65 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Apple by 6.7% in the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after buying an additional 66 shares in the last quarter. Aufman Associates Inc lifted its holdings in shares of Apple by 0.9% in the second quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after buying an additional 66 shares in the last quarter. Finally, Lake Point Wealth Management lifted its holdings in shares of Apple by 1.7% in the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after buying an additional 67 shares in the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. BNP Paribas downgraded shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target on the stock. in a research note on Tuesday, January 3rd. Oppenheimer decreased their price target on shares of Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, December 12th. Wedbush decreased their price target on shares of Apple from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 4th. Finally, National Bank Financial decreased their price target on shares of Apple to $54.00 and set an “outperform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $166.73.

Apple Stock Up 1.9 %

Shares of Apple stock opened at $137.87 on Monday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The firm’s 50-day moving average is $138.72 and its two-hundred day moving average is $148.18. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.78 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same period in the prior year, the business earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Insider Activity

In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 20,200 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Profile

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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