Clear Harbor Asset Management LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Clear Harbor Asset Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 338,351 shares of the iPhone maker’s stock after selling 2,671 shares during the quarter. Apple comprises 6.1% of Clear Harbor Asset Management LLC’s holdings, making the stock its 2nd biggest position. Clear Harbor Asset Management LLC’s holdings in Apple were worth $71,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of AAPL. Christopher J. Hasenberg Inc bought a new stake in Apple in the first quarter worth about $35,000. Fidelis Capital Partners LLC grew its stake in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple in the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. boosted its holdings in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Apple in the fourth quarter worth approximately $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AAPL. Wedbush reissued an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. The Goldman Sachs Group raised their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group boosted their price target on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $238.62.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.1 %

AAPL opened at $222.50 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The business has a 50 day moving average of $223.14 and a 200-day moving average of $198.52. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

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.