Harbour Investments Inc. Has $70.72 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Harbour Investments Inc. raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the fourth quarter, according to its most recent 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 period. Apple comprises about 2.0% of Harbour Investments Inc.'s investment portfolio, making the stock its 5th biggest position. Harbour Investments Inc.'s holdings in Apple were worth $70,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. O Connor Financial Group LLC increased its position in Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock valued at $896,000 after acquiring an additional 41 shares during the last quarter. Menard Financial Group LLC boosted its stake in shares of Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock valued at $2,848,000 after purchasing an additional 48 shares during the period. Hanseatic Management Services Inc. boosted its stake in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock valued at $945,000 after purchasing an additional 48 shares during the period. Family Capital Management Inc. boosted its stake in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after purchasing an additional 48 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of NASDAQ:AAPL traded up $0.91 during trading on Thursday, reaching $201.33. The company had a trading volume of 11,638,749 shares, compared to its average volume of 56,057,477. The firm has a market capitalization of $3.01 trillion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. 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 stock's fifty day moving average price is $204.01 and its 200 day moving average price is $225.36. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 160.83% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to analyst estimates of $94.04 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. Apple's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is presently 16.20%.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. The trade was a 17.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 value of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AAPL shares. Loop Capital lowered their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. UBS Group lowered their price objective on shares of Apple from $236.00 to $210.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. DA Davidson upped their price objective on shares of Apple from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Barclays reduced their target price on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $225.00 target price on shares of Apple in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $235.80.

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.