Harbour Investments Inc. Sells 5,865 Shares of Apple Inc. $AAPL

Harbour Investments Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 270,999 shares of the iPhone maker’s stock after selling 5,865 shares during the period. Apple comprises about 1.5% of Harbour Investments Inc.’s investment portfolio, making the stock its 7th biggest position. Harbour Investments Inc.’s holdings in Apple were worth $73,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Apple in the second quarter valued at approximately $38,942,255,000. Nuveen LLC acquired a new position in Apple in the first quarter valued at approximately $17,472,482,000. Laurel Wealth Advisors LLC lifted its holdings in Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares during the period. Vanguard Group Inc. lifted its holdings in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares during the period. Finally, Northern Trust Corp lifted its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the transaction, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,759 shares of company stock worth $24,964,305 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.9%

AAPL opened at $301.54 on Tuesday. Apple Inc. has a twelve month low of $195.07 and a twelve month high of $317.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $282.36 and a 200 day moving average price of $271.63. The company has a market cap of $4.43 trillion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is currently 13.06%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri AI and broader Apple Intelligence rollout could improve user engagement, strengthen the ecosystem, and support longer-term monetization across its large installed base. Apple introduces Siri AI, a profoundly more capable and personal assistant
• Positive Sentiment: Wedbush and other bullish analysts said the WWDC announcements could unlock significant AI-driven upside, with one note calling the event a potential catalyst for meaningful monetization across Apple’s installed base. AI Could Add $75-$100 to Apple Stock (AAPL), Says Top Wedbush Analyst after WWDC Event
• Neutral Sentiment: Apple expanded developer tools and AI frameworks, including cheaper access to its Foundation Models for smaller developers, which may help grow the ecosystem but is unlikely to move near-term earnings immediately. Apple bets cheaper AI will woo small developers
• Negative Sentiment: The market’s reaction suggests investors wanted a bigger AI breakthrough; several reports said Apple shares faded after the announcements as the new platform was seen as underwhelming versus high expectations. Apple (AAPL) Stock Slides after New AI Platform Underwhelms
• Negative Sentiment: Apple is still being viewed as late to AI, and some coverage framed WWDC as catch-up rather than a clear leadership moment, raising concerns that the announcements may not be enough to drive a new wave of hardware upgrades right away. Apple plays catch-up at WWDC

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. DA Davidson reissued a “neutral” rating and set a $270.00 target price on shares of Apple in a research note on Friday, May 1st. TD Cowen reissued a “buy” rating and set a $335.00 target price (up from $325.00) on shares of Apple in a research note on Friday, May 1st. Jefferies Financial Group set a $330.00 target price on shares of Apple in a research note on Wednesday, March 4th. KeyCorp reissued a “sector weight” rating on shares of Apple in a research note on Thursday, March 12th. Finally, Rosenblatt Securities increased their target price on shares of Apple from $268.00 to $276.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $312.82.

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.