Apple Inc. (NASDAQ:AAPL) Shares Acquired by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,443 shares of the iPhone maker’s stock after buying an additional 189 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Apple were worth $336,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Carolina Wealth Advisors LLC raised its position in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after buying an additional 46 shares during the period. Verus Financial Partners Inc. grew its holdings in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the period. Brown Financial Advisory grew its holdings in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. raised its holdings in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the period. Finally, Lowery Thomas LLC lifted its position in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Friday, December 13th. Bank of America increased their target price on Apple to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.

Insider Buying and Selling

In other news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 in the last three months. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

AAPL opened at $259.02 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The business’s 50 day moving average is $237.00 and its 200-day moving average is $227.21. The stock has a market cap of $3.92 trillion, a PE ratio of 42.60, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Apple Company 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.