Apple Inc. (NASDAQ:AAPL) is Harbor Island Capital LLC’s 3rd Largest Position

Harbor Island Capital LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 97,688 shares of the iPhone maker’s stock after selling 250 shares during the quarter. Apple accounts for approximately 8.9% of Harbor Island Capital LLC’s portfolio, making the stock its 3rd largest holding. Harbor Island Capital LLC’s holdings in Apple were worth $20,575,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AAPL. Brown Financial Advisory raised its position in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. grew its stake in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the period. Foresight Capital Management Advisors Inc. increased its holdings in Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after purchasing an additional 55 shares in the last quarter. Altus Wealth Management LLC grew its position in shares of Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock worth $2,002,000 after buying an additional 55 shares during the period. Finally, Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $226.21 on Wednesday. The stock has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.66 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm’s 50-day moving average is $222.39 and its 200 day moving average is $203.18. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 EPS. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.55%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AAPL. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Cfra upped their target price on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $238.76.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. Insiders own 0.06% of the company’s stock.

Apple Company 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.