Apple Inc. $AAPL Shares Bought by Harrell Investment Partners LLC

Key Points

• Harrell Investment Partners LLC increased its stake in Apple Inc. by 4.4%, owning 109,815 shares valued at approximately $22.5 million, making Apple its third largest holding.
• Several research analysts updated their ratings on Apple, with Tigress Financial raising the target price to $305.00 and maintaining a "strong-buy" rating.
• Apple reported strong quarterly earnings, with $1.57 EPS and $94.04 billion in revenue, exceeding analyst expectations.

Harrell Investment Partners LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,815 shares of the iPhone maker's stock after acquiring an additional 4,600 shares during the quarter. Apple makes up 5.7% of Harrell Investment Partners LLC's portfolio, making the stock its 3rd biggest holding. Harrell Investment Partners LLC's holdings in Apple were worth $22,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Advanced Portfolio Management LLC boosted its stake in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares during the last quarter. Salus Financial Advisors LLC boosted its stake in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after buying an additional 49 shares during the last quarter. Sharpepoint LLC boosted its stake in shares of Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock worth $322,000 after buying an additional 51 shares during the last quarter. Redwood Financial Network Corp boosted its stake in shares of Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after buying an additional 53 shares during the last quarter. Finally, Mission Hills Financial Advisory LLC lifted its stake in Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after purchasing an additional 53 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Apple in a research note on Saturday, September 27th. Tigress Financial raised their target price on shares of Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 17th. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Finally, Barclays raised their target price on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $247.49.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company's stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $256.48 on Wednesday. The company's 50 day simple moving average is $234.84 and its 200 day simple moving average is $215.25. The stock has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion for 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 firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

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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