Apple Inc. (NASDAQ:AAPL) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 261,105 shares of the iPhone maker’s stock after selling 1,908 shares during the period. Apple comprises approximately 4.3% of Bar Harbor Wealth Management’s portfolio, making the stock its 2nd largest holding. Bar Harbor Wealth Management’s holdings in Apple were worth $65,386,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Adapt Wealth Advisors LLC lifted its stake in Apple by 25.2% during the second quarter. Adapt Wealth Advisors LLC now owns 6,337 shares of the iPhone maker’s stock worth $1,335,000 after purchasing an additional 1,276 shares during the last quarter. X Square Capital LLC lifted its stake in Apple by 14.1% during the second quarter. X Square Capital LLC now owns 13,629 shares of the iPhone maker’s stock worth $2,871,000 after purchasing an additional 1,685 shares during the last quarter. DDFG Inc lifted its stake in Apple by 0.3% during the second quarter. DDFG Inc now owns 27,014 shares of the iPhone maker’s stock worth $5,690,000 after purchasing an additional 79 shares during the last quarter. Stonekeep Investments LLC purchased a new stake in Apple during the second quarter worth approximately $1,376,000. Finally, Private Management Group Inc. lifted its stake in Apple by 9.4% during the second quarter. Private Management Group Inc. now owns 18,721 shares of the iPhone maker’s stock worth $3,943,000 after purchasing an additional 1,612 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. Monness Crespi & Hardt boosted their price objective on Apple to $245.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. DA Davidson set a $290.00 price objective on Apple in a research note on Friday, January 31st. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note on Tuesday, January 21st. Finally, Maxim Group boosted their price objective on Apple to $215.00 and gave the company a “hold” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $244.85.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 0.1 %

Shares of AAPL stock opened at $245.55 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a market cap of $3.69 trillion, a P/E ratio of 38.98, a P/E/G ratio of 2.44 and a beta of 1.20. The business has a fifty day simple moving average of $240.47 and a 200-day simple moving average of $232.72. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

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.