Harrington Investments INC lessened its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 77,866 shares of the iPhone maker’s stock after selling 3,184 shares during the quarter. Apple makes up about 7.3% of Harrington Investments INC’s holdings, making the stock its largest position. Harrington Investments INC’s holdings in Apple were worth $10,117,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Robinson Value Management Ltd. purchased a new stake in Apple during the 3rd quarter worth about $28,000. Hanseatic Management Services Inc. increased its position in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 107 shares in the last quarter. Bluestem Financial Advisors LLC increased its position in Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 229,929 shares in the last quarter. HBC Financial Services PLLC increased its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in Apple during the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 57.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on AAPL. Jefferies Financial Group restated a “buy” rating and issued a $195.00 price target on shares of Apple in a report on Thursday, March 2nd. Canaccord Genuity Group lowered their price target on Apple from $200.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, January 18th. Cowen lowered their price target on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Credit Suisse Group set a $184.00 price target on Apple in a report on Monday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective on shares of Apple in a research note on Friday, February 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.24.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a net margin of 24.56% and a return on equity of 163.45%. The firm had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. During the same quarter last year, the firm posted $2.10 earnings per share. Apple’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 6.04 earnings per share for the current year.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. Apple’s payout ratio is 15.62%.
Apple Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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