Apple Inc. $AAPL Position Increased by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 10.8% during the second quarter, Holdings Channel.com reports. The fund owned 23,733 shares of the iPhone maker’s stock after acquiring an additional 2,309 shares during the period. Apple accounts for 4.6% of Safe Harbor Fiduciary LLC’s investment portfolio, making the stock its 4th largest holding. Safe Harbor Fiduciary LLC’s holdings in Apple were worth $4,869,000 at the end of the most recent quarter.

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

Apple Stock Performance

Shares of AAPL stock opened at $278.78 on Thursday. The company has a market capitalization of $4.12 trillion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.59 and a beta of 1.10. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $288.62. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $267.42 and its 200-day simple moving average is $235.90.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling

In related news, insider Chris Kondo sold 3,752 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total value of $1,017,654.96. Following the transaction, the insider directly owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the subject of several research analyst reports. Cowen reiterated a “buy” rating on shares of Apple in a research note on Monday, October 27th. BMO Capital Markets restated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Rosenblatt Securities raised their price target on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Melius lifted their price target on Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $282.51.

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.