Harfst & Associates Inc. Has $5.99 Million Position in Apple Inc. (NASDAQ:AAPL)

Harfst & Associates Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,332 shares of the iPhone maker’s stock after purchasing an additional 2,993 shares during the period. Apple makes up 1.7% of Harfst & Associates Inc.’s portfolio, making the stock its 8th biggest holding. Harfst & Associates Inc.’s holdings in Apple were worth $5,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after buying an additional 569,066,184 shares during the last quarter. Norges Bank acquired a new position in Apple during the 4th quarter worth approximately $21,746,940,000. Morgan Stanley raised its stake in shares of Apple by 14.2% during the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after purchasing an additional 25,926,552 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Apple during the 4th quarter worth approximately $1,075,599,000. 58.51% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent research reports. KeyCorp increased their price objective on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. StockNews.com assumed coverage on Apple in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Citigroup reissued a “buy” rating and issued a $240.00 price objective on shares of Apple in a research report on Friday, August 4th. Finally, Barclays boosted their price objective on Apple from $149.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

View Our Latest Research Report on AAPL

Apple Price Performance

Shares of AAPL opened at $189.70 on Wednesday. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The firm’s fifty day simple moving average is $186.94 and its 200-day simple moving average is $174.00. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.76 and a beta of 1.27. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. During the same period last year, the firm posted $1.20 EPS. The company’s revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is 16.13%.

About Apple

(Free Report)

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.

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