Apple Inc. $AAPL is Hartline Investment Corp’s 3rd Largest Position

Hartline Investment Corp trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 13.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 219,787 shares of the iPhone maker’s stock after selling 33,878 shares during the quarter. Apple comprises about 5.1% of Hartline Investment Corp’s holdings, making the stock its 3rd biggest holding. Hartline Investment Corp’s holdings in Apple were worth $45,094,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Baker Boyer National Bank raised its holdings in Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC increased its holdings in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares in the last quarter. Red Tortoise LLC lifted its holdings in shares of Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 49 shares in the last quarter. SigFig Wealth Management LLC boosted its position in shares of Apple by 2.8% during the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after buying an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. increased its holdings in Apple by 1.3% in the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after buying an additional 50 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 3,752 shares of Apple stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the transaction, the insider owned 15,098 shares of the company’s stock, valued at $4,095,030.54. The trade was a 19.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 228,052 shares of company stock worth $58,604,588 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Trading Down 0.2%

NASDAQ:AAPL opened at $272.41 on Friday. Apple Inc. has a one year low of $169.21 and a one year high of $277.32. The business has a fifty day moving average price of $255.92 and a 200-day moving average price of $226.95. The firm has a market capitalization of $4.03 trillion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AAPL shares. Sanford C. Bernstein set a $325.00 target price on shares of Apple in a research note on Monday, November 3rd. Monness Crespi & Hardt increased their price objective on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Tigress Financial lifted their target price on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $278.22.

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.