Hazlett Burt & Watson Inc. Has $10.91 Million Position in Apple Inc. (NASDAQ:AAPL)

Hazlett Burt & Watson Inc. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,816 shares of the iPhone maker’s stock after purchasing an additional 253 shares during the quarter. Apple accounts for 5.6% of Hazlett Burt & Watson Inc.’s portfolio, making the stock its largest holding. Hazlett Burt & Watson Inc.’s holdings in Apple were worth $10,909,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AAPL. Bellwether Advisors LLC lifted its holdings in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC acquired a new stake in Apple during the 2nd quarter valued at $876,000. WT Asset Management Ltd acquired a new position in Apple in the second quarter worth $80,057,000. TD Asset Management Inc grew its holdings in shares of Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after purchasing an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC acquired a new stake in shares of Apple in the first quarter valued at $11,776,000. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AAPL shares. Citigroup boosted their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Finally, Tigress Financial increased their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction 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 $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $233.67 on Wednesday. The company has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 36.34, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a 50-day simple moving average of $227.15 and a 200 day simple moving average of $211.46.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 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.