Apple Inc. (NASDAQ:AAPL) Position Boosted by Bay Harbor Wealth Management LLC

Bay Harbor Wealth Management LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 7.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,256 shares of the iPhone maker’s stock after purchasing an additional 92 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Apple were worth $215,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Apple in the fourth quarter valued at approximately $33,912,466,000. International Assets Investment Management LLC lifted its holdings in shares of Apple by 14,395.4% in the 4th quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock worth $136,119,470,000 after purchasing an additional 70,212,651 shares during the last quarter. Vanguard Group Inc. boosted its position in Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Global Assets Advisory LLC grew its stake in Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Apple by 130.1% in the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after buying an additional 5,331,439 shares during the period. 60.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. In the last three months, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 2.5 %

Apple stock traded up $4.20 during midday trading on Monday, reaching $173.50. The stock had a trading volume of 66,161,781 shares, compared to its average volume of 60,497,953. The firm’s fifty day simple moving average is $172.86 and its two-hundred day simple moving average is $181.77. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market cap of $2.68 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. Apple’s payout ratio is 14.95%.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. Monness Crespi & Hardt upped their price target on shares of Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays restated an “underweight” rating and issued a $158.00 price target on shares of Apple in a research note on Tuesday, April 23rd. Maxim Group started coverage on Apple in a report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price objective for the company. Bank of America raised Apple from a “neutral” rating to a “buy” rating and lifted their target price for the company from $208.00 to $225.00 in a research note on Thursday, January 18th. Finally, DA Davidson began coverage on Apple in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $202.62.

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.