Apple Inc. (NASDAQ:AAPL) is Harbour Capital Advisors LLC's 2nd Largest Position

Harbour Capital Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,519 shares of the iPhone maker's stock after selling 4,723 shares during the quarter. Apple makes up 3.1% of Harbour Capital Advisors LLC's portfolio, making the stock its 2nd largest position. Harbour Capital Advisors LLC's holdings in Apple were worth $12,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Tallon Kerry Patrick purchased a new position in Apple during the 4th quarter valued at about $1,877,000. First National Bank of Hutchinson increased its position in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Capital & Planning LLC increased its position in Apple by 10.7% during the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker's stock valued at $6,836,000 after purchasing an additional 2,647 shares during the period. Eagle Capital Management LLC increased its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Finally, Brighton Jones LLC increased its position in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AAPL shares. Evercore ISI raised their target price on shares of Apple to $250.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Friday, July 25th. China Renaissance initiated coverage on shares of Apple in a report on Tuesday, April 22nd. They issued a "buy" rating and a $241.00 price target on the stock. Loop Capital lowered their price target on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Finally, Wedbush restated an "outperform" rating and issued a $270.00 price target on shares of Apple in a report on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $237.25.

Apple Stock Performance

Shares of AAPL traded up $10.20 during trading hours on Wednesday, hitting $213.12. The stock had a trading volume of 102,898,971 shares, compared to its average volume of 57,348,797. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50-day moving average price of $205.58 and a 200 day moving average price of $213.24. 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 capitalization of $3.16 trillion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.14 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.40 EPS. As a group, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its board has initiated a share buyback program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple's payout ratio is presently 15.78%.

About Apple

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.