Flagship Harbor Advisors LLC Has $28.74 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by on Mar 26th, 2023

Flagship Harbor Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,214 shares of the iPhone maker’s stock after selling 5,977 shares during the quarter. Apple makes up 2.9% of Flagship Harbor Advisors LLC’s holdings, making the stock its 2nd biggest holding. Flagship Harbor Advisors LLC’s holdings in Apple were worth $28,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Robinson Value Management Ltd. bought a new stake in Apple in the third quarter worth approximately $28,000. Hanseatic Management Services Inc. increased its holdings in Apple by 75.4% in the third 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. Cheyne Capital Management UK LLP increased its holdings in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after purchasing an additional 550 shares in the last quarter. Ramsey Quantitative Systems bought a new stake in Apple in the second quarter worth approximately $55,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in Apple in the third quarter worth approximately $55,000. 57.60% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the completion of the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAPL. The Goldman Sachs Group assumed coverage on Apple in a report on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price for the company. Oppenheimer reduced their price objective on Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, December 12th. Fundamental Research reissued a “buy” rating and issued a $168.00 price objective on shares of Apple in a research note on Tuesday, February 14th. JPMorgan Chase & Co. set a $175.00 price objective on Apple in a research note on Wednesday, March 1st. Finally, Deutsche Bank Aktiengesellschaft set a $160.00 price objective on Apple in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.24.

Apple Stock Up 0.8 %

AAPL stock opened at $160.25 on Friday. The stock’s fifty day simple moving average is $149.26 and its two-hundred day simple moving average is $145.40. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The stock has a market cap of $2.54 trillion, a P/E ratio of 27.21, a P/E/G ratio of 2.09 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.05). Apple had a return on equity of 163.45% and a net margin of 24.56%. The business had revenue of $117.15 billion during the quarter, compared to analysts’ expectations of $121.67 billion. During the same period in the prior year, the firm posted $2.10 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts expect that Apple Inc. will post 6.04 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were paid a $0.23 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 10th. Apple’s dividend payout ratio is currently 15.62%.

Apple Profile

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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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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