Apple Inc. $AAPL Holdings Lowered by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd has decreased its stake in Apple to 693,817 shares, making it the firm's largest position at approximately 7.8% of its portfolio, valued at $154 million.
• Apple's recent quarterly earnings exceeded expectations with $1.57 EPS, and the company's revenue rose 9.6% year-over-year to $94.04 billion.
• The company announced a quarterly dividend of $0.26 per share, representing an annualized 0.4% yield and a payout ratio of 15.78%.

Harvest Fund Management Co. Ltd reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 693,817 shares of the iPhone maker's stock after selling 3,135 shares during the period. Apple comprises 7.8% of Harvest Fund Management Co. Ltd's portfolio, making the stock its biggest position. Harvest Fund Management Co. Ltd's holdings in Apple were worth $154,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Geode Capital Management LLC raised its position in Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after purchasing an additional 6,307,413 shares in the last quarter. Norges Bank bought a new stake in Apple during the 4th quarter valued at $46,868,648,000. Northern Trust Corp raised its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.0%

AAPL stock traded down $0.09 on Friday, hitting $239.69. 54,829,143 shares of the company's stock were exchanged, compared to its average volume of 47,688,568. 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 $219.28 and a two-hundred day moving average price of $212.64. The stock has a market cap of $3.56 trillion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 EPS. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is presently 15.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AAPL shares. Bank of America lifted their target price on Apple from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday. Wedbush reaffirmed an "outperform" rating and set a $270.00 target price on shares of Apple in a research report on Wednesday. Morgan Stanley set a $240.00 price target on Apple and gave the company an "overweight" rating in a report on Wednesday. The Goldman Sachs Group reiterated a "buy" rating and issued a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Finally, Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target on the stock in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $239.05.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.