Marble Harbor Investment Counsel LLC Sells 3,308 Shares of Apple Inc. (NASDAQ:AAPL)

Marble Harbor Investment Counsel LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,962 shares of the iPhone maker's stock after selling 3,308 shares during the period. Apple accounts for 7.4% of Marble Harbor Investment Counsel LLC's investment portfolio, making the stock its largest holding. Marble Harbor Investment Counsel LLC's holdings in Apple were worth $66,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Capital Management Corp VA boosted its stake in Apple by 1.6% during the 4th quarter. Capital Management Corp VA now owns 3,822 shares of the iPhone maker's stock worth $957,000 after purchasing an additional 62 shares during the period. Rialto Wealth Management LLC acquired a new stake in Apple during the 4th quarter worth $3,847,000. Hamilton Capital Partners LLC acquired a new stake in Apple during the 4th quarter worth $11,734,000. Lifeworks Advisors LLC boosted its stake in Apple by 5.5% during the 4th quarter. Lifeworks Advisors LLC now owns 27,433 shares of the iPhone maker's stock worth $6,870,000 after purchasing an additional 1,419 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Apple by 41.1% during the 4th quarter. Larson Financial Group LLC now owns 290,632 shares of the iPhone maker's stock worth $72,780,000 after purchasing an additional 84,631 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Maxim Group increased their price target on shares of Apple to $215.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Monness Crespi & Hardt cut their price objective on shares of Apple from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Rosenblatt Securities downgraded shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 price objective for the company. in a research report on Friday, May 2nd. Finally, Oppenheimer downgraded shares of Apple from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.80.

Apple Trading Down 0.1%

Shares of NASDAQ AAPL traded down $0.19 during midday trading on Friday, reaching $211.26. 53,614,750 shares of the stock were exchanged, compared to its average volume of 55,997,127. The company has a market capitalization of $3.16 trillion, a P/E ratio of 33.53, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $206.09 and a 200-day moving average price of $226.66.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple's dividend payout ratio (DPR) is currently 16.20%.

Apple declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. Insiders own 0.06% of the company's stock.

Apple 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.