Harbour Investment Management LLC Has $7.72 Million Stock Position in Apple Inc. $AAPL

Harbour Investment Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 7.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 30,436 shares of the iPhone maker’s stock after selling 2,304 shares during the quarter. Apple makes up about 4.2% of Harbour Investment Management LLC’s investment portfolio, making the stock its 6th largest holding. Harbour Investment Management LLC’s holdings in Apple were worth $7,724,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in Apple during the 4th quarter valued at $52,266,468,000. Nuveen LLC bought a new position in Apple in the 1st quarter worth $17,472,482,000. Cardano Risk Management B.V. lifted its position in shares of Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC lifted its position in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ben Borders sold 116 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 2,924 shares of company stock worth $825,546. Insiders own 0.06% of the company’s stock.

Apple Stock Down 0.3%

Shares of Apple stock opened at $315.32 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The company has a 50-day moving average of $299.55 and a 200 day moving average of $275.26. The firm has a market cap of $4.63 trillion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.75 and a beta of 1.10. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $317.40.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the company posted $1.65 EPS. Apple’s revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is 13.06%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Rosenblatt Securities reiterated a “neutral” rating and set a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Monday, June 1st. KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.85.

Apple Company 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.