Apple Inc. (NASDAQ:AAPL) Position Raised by Harrell Investment Partners LLC

Harrell Investment Partners LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 104,540 shares of the iPhone maker’s stock after acquiring an additional 368 shares during the quarter. Apple comprises 6.4% of Harrell Investment Partners LLC’s investment portfolio, making the stock its biggest position. Harrell Investment Partners LLC’s holdings in Apple were worth $22,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wheelhouse Advisory Group LLC purchased a new position in shares of Apple in the fourth quarter worth about $1,306,000. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Apple by 1.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 284,563 shares of the iPhone maker’s stock worth $54,787,000 after buying an additional 2,804 shares during the period. Ninepoint Partners LP increased its holdings in shares of Apple by 19.5% in the fourth quarter. Ninepoint Partners LP now owns 5,553 shares of the iPhone maker’s stock worth $1,069,000 after buying an additional 905 shares during the period. Zhang Financial LLC increased its holdings in shares of Apple by 3.4% in the fourth quarter. Zhang Financial LLC now owns 184,471 shares of the iPhone maker’s stock worth $35,516,000 after buying an additional 6,014 shares during the period. Finally, Roth Financial Partners LLC increased its holdings in shares of Apple by 4.5% in the fourth quarter. Roth Financial Partners LLC now owns 11,565 shares of the iPhone maker’s stock worth $2,227,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple 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 directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Apple 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 directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $216.32 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The firm has a market cap of $3.32 trillion, a P/E ratio of 33.64, a PEG ratio of 2.62 and a beta of 1.24. The company has a 50 day moving average of $222.91 and a 200 day moving average of $199.00. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. As a group, research analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Apple’s dividend payout ratio is presently 15.55%.

Analysts Set New Price Targets

Several analysts recently issued reports on AAPL shares. Wedbush reissued an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Loop Capital raised Apple from a “hold” rating to a “buy” rating and raised their target price for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. TD Cowen raised their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, Robert W. Baird raised their target price on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

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.