Harbour Investments Inc. Purchases 4,550 Shares of Apple Inc. (NASDAQ:AAPL)

Harbour Investments Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,390 shares of the iPhone maker's stock after buying an additional 4,550 shares during the quarter. Apple accounts for about 2.0% of Harbour Investments Inc.'s portfolio, making the stock its 5th largest position. Harbour Investments Inc.'s holdings in Apple were worth $70,716,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after acquiring an additional 55,935,105 shares during the period. Proficio Capital Partners LLC grew its stake in Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC increased its holdings in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the period. FMR LLC raised its holdings in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Apple by 25,285.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after buying an additional 9,590,933 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider now owns 15,533 shares of the company's stock, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last three months. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Friday, May 16th. DA Davidson increased their price objective on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Scotiabank cut shares of Apple to a "market perform" rating in a research note on Friday, May 2nd. TD Cowen reduced their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Bank of America lowered their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.80.

Apple Trading Up 2.5%

Shares of AAPL stock traded up $4.94 during trading hours on Tuesday, hitting $200.21. The company had a trading volume of 55,838,867 shares, compared to its average volume of 56,255,357. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The company's fifty day moving average is $204.64 and its 200 day moving average is $225.71. The stock has a market capitalization of $2.99 trillion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the business posted $1.53 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has initiated a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple's payout ratio is currently 16.20%.

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.