Harbor Investment Advisory LLC Has $66.80 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Harbor Investment Advisory LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,195 shares of the iPhone maker’s stock after selling 288 shares during the period. Apple makes up approximately 7.2% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 2nd largest holding. Harbor Investment Advisory LLC’s holdings in Apple were worth $66,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Wyrmwood Management LLC lifted its position in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC lifted its holdings in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. PayPay Securities Corp boosted its position in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after buying an additional 210 shares during the period. Cordant Inc. grew its holdings in shares of Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after buying an additional 140 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new stake in Apple in the 4th quarter valued at approximately $132,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $181.71 on Tuesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The firm has a market capitalization of $2.81 trillion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.21 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The firm’s 50 day simple moving average is $172.18 and its 200 day simple moving average is $181.72.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same quarter last year, the company posted $1.52 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.25 per share. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.55%. Apple’s payout ratio is presently 14.93%.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Apple in a research note on Friday. DZ Bank reaffirmed a “hold” rating and issued a $180.00 target price on shares of Apple in a research report on Thursday, March 28th. UBS Group reissued a “hold” rating and set a $190.00 price target on shares of Apple in a research report on Monday, March 25th. The Goldman Sachs Group raised their price objective on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.11.

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.