Bar Harbor Wealth Management Has $55.81 Million Stake in Apple Inc. (NASDAQ:AAPL)

Bar Harbor Wealth Management lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,247 shares of the iPhone maker's stock after selling 9,858 shares during the period. Apple makes up 3.7% of Bar Harbor Wealth Management's portfolio, making the stock its 5th biggest position. Bar Harbor Wealth Management's holdings in Apple were worth $55,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Schoolcraft Capital LLC lifted its stake in shares of Apple by 22.9% during the first quarter. Schoolcraft Capital LLC now owns 2,706 shares of the iPhone maker's stock worth $601,000 after purchasing an additional 505 shares in the last quarter. Bensler LLC lifted its stake in shares of Apple by 2.4% in the first quarter. Bensler LLC now owns 139,514 shares of the iPhone maker's stock worth $30,990,000 after acquiring an additional 3,241 shares in the last quarter. Smithbridge Asset Management Inc. DE acquired a new position in shares of Apple in the first quarter worth about $36,097,000. F&V Capital Management LLC lifted its stake in shares of Apple by 63.5% in the first quarter. F&V Capital Management LLC now owns 2,215 shares of the iPhone maker's stock worth $492,000 after acquiring an additional 860 shares in the last quarter. Finally, Osprey Private Wealth LLC lifted its stake in shares of Apple by 8.8% in the first quarter. Osprey Private Wealth LLC now owns 8,575 shares of the iPhone maker's stock worth $1,905,000 after acquiring an additional 690 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Up 0.6%

NASDAQ:AAPL traded up $1.16 during trading hours on Friday, hitting $211.18. 48,313,703 shares of the stock traded hands, compared to its average volume of 57,043,113. The firm has a 50 day moving average price of $204.32 and a 200 day moving average price of $216.12. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.35 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the business posted $1.53 earnings per share. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has initiated a share buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. Apple's dividend payout ratio is 16.20%.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. The trade was a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and boosted their price objective for the company from $170.62 to $188.32 in a report on Tuesday, July 1st. China Renaissance assumed coverage on Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price objective for the company. DA Davidson boosted their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Apple from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.11.

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.