Adell Harriman & Carpenter Inc. Acquires 288 Shares of Apple Inc. (NASDAQ:AAPL)

Adell Harriman & Carpenter Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the fourth quarter, Holdings Channel reports. The fund owned 395,162 shares of the iPhone maker’s stock after acquiring an additional 288 shares during the period. Apple comprises 6.9% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 3rd largest position. Adell Harriman & Carpenter Inc.’s holdings in Apple were worth $98,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. AMF Tjanstepension AB raised its stake in Apple by 21.1% in the third quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after buying an additional 588,427 shares in the last quarter. Latitude Advisors LLC raised its position in shares of Apple by 0.3% during the 3rd quarter. Latitude Advisors LLC now owns 17,236 shares of the iPhone maker’s stock worth $4,016,000 after acquiring an additional 50 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Apple by 34.7% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 591,599 shares of the iPhone maker’s stock worth $137,843,000 after purchasing an additional 152,310 shares during the last quarter. Greenleaf Trust lifted its stake in Apple by 1.3% during the third quarter. Greenleaf Trust now owns 702,624 shares of the iPhone maker’s stock worth $163,711,000 after purchasing an additional 8,960 shares during the last quarter. Finally, Hartford Investment Management Co. boosted its holdings in Apple by 3.6% in the third quarter. Hartford Investment Management Co. now owns 956,855 shares of the iPhone maker’s stock valued at $222,947,000 after purchasing an additional 33,596 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares of the company’s stock, valued at approximately $40,072,269.86. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,451 shares of company stock worth $40,818,720. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Tuesday, January 21st. Barclays upped their price objective on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Wedbush cut their target price on Apple from $325.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Finally, Argus raised Apple to a “strong-buy” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.85.

Apple Price Performance

Shares of NASDAQ AAPL opened at $196.79 on Friday. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.44 and a beta of 1.26. Apple Inc. has a 1-year low of $164.77 and a 1-year high of $260.10. The business has a 50-day moving average of $219.65 and a 200-day moving average of $230.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. Apple’s payout ratio is 15.87%.

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.