Apple Inc. $AAPL is Clear Harbor Asset Management LLC's 2nd Largest Position

Key Points

• Clear Harbor Asset Management LLC has reduced its stakes in Apple Inc. by 4.7%, making Apple its second-largest position at 5.0% of the total portfolio, valued at approximately $67.3 million.
• Apple's recent quarterly earnings reported an EPS of $1.57, exceeding analysts' expectations of $1.43, along with revenues of $94.04 billion, up 9.6% from the previous year.
• The company announced a quarterly dividend of $0.26, which translates to an annualized payout of $1.04, representing a yield of 0.4% and a payout ratio of 15.78%.

Clear Harbor Asset Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 327,931 shares of the iPhone maker's stock after selling 16,332 shares during the quarter. Apple comprises 5.0% of Clear Harbor Asset Management LLC's portfolio, making the stock its 2nd biggest holding. Clear Harbor Asset Management LLC's holdings in Apple were worth $67,282,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC increased its position in Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after buying an additional 93 shares during the last quarter. Avid Wealth Partners LLC grew its position in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC grew its position in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after purchasing an additional 240 shares during the last quarter. OneAscent Wealth Management LLC grew its position in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after purchasing an additional 409 shares during the last quarter. Finally, Andina Capital Management LLC grew its position in shares of Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after purchasing an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.

Apple Stock Up 0.7%

AAPL stock opened at $257.13 on Friday. The company has a market cap of $3.82 trillion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The business's 50-day simple moving average is $232.20 and its 200 day simple moving average is $214.38.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is 15.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Evercore ISI set a $290.00 price target on Apple and gave the company an "outperform" rating in a research report on Friday, September 26th. Barclays raised their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.51.

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.

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