Apple Inc. (NASDAQ:AAPL) Shares Purchased by Harbour Investments Inc.

Posted by Defense World Staff on Jun 15th, 2023

Harbour Investments Inc. raised its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,928 shares of the iPhone maker’s stock after acquiring an additional 7,207 shares during the quarter. Apple comprises approximately 2.1% of Harbour Investments Inc.’s investment portfolio, making the stock its 6th biggest holding. Harbour Investments Inc.’s holdings in Apple were worth $34,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Live Oak Investment Partners acquired a new stake in shares of Apple during the 4th quarter worth approximately $1,877,000. Silverlake Wealth Management LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $7,147,000. Beacon Financial Planning Inc. acquired a new stake in shares of Apple during the 4th quarter worth approximately $619,000. Gateway Wealth Partners LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $23,047,000. Finally, Chartwell Investment Partners LLC grew its position in shares of Apple by 8.0% during the 4th quarter. Chartwell Investment Partners LLC now owns 571,943 shares of the iPhone maker’s stock worth $74,313,000 after buying an additional 42,476 shares during the period. Institutional investors and hedge funds own 57.60% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total value of $29,991,744.80. Following the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,092 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total transaction of $708,979.92. Following the completion of the sale, the insider now owns 33,946 shares in the company, valued at $5,881,483.96. The disclosure for this sale can be found here. Insiders have sold a total of 439,529 shares of company stock valued at $71,703,657 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 0.3 %

AAPL stock opened at $183.95 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.88 and a current ratio of 0.94. The company’s 50-day simple moving average is $171.77 and its 200 day simple moving average is $154.62. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $184.95. The company has a market capitalization of $2.89 trillion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 2.42 and a beta of 1.29.

Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. Apple had a net margin of 24.49% and a return on equity of 165.72%. The firm had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. During the same period last year, the firm earned $1.52 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 5.99 earnings per share for the current year.

Apple announced that its board has authorized a share repurchase plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 15th were issued a $0.24 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, May 12th. Apple’s dividend payout ratio (DPR) is currently 16.30%.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. UBS Group cut shares of Apple from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $180.00 to $190.00 in a report on Monday. Jefferies Financial Group boosted their price objective on shares of Apple from $195.00 to $210.00 in a report on Friday, June 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. Piper Sandler decreased their price objective on shares of Apple from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, May 5th. Finally, Credit Suisse Group boosted their price objective on shares of Apple from $188.00 to $200.00 in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $177.40.

Apple Company Profile

(Get Rating)

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.