Bay Harbor Wealth Management LLC Purchases 92 Shares of Apple Inc. (NASDAQ:AAPL)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Oakworth Capital Inc. increased its holdings in Apple by 1.5% in the first quarter. Oakworth Capital Inc. now owns 227,647 shares of the iPhone maker’s stock valued at $39,037,000 after purchasing an additional 3,455 shares during the period. CKW Financial Group raised its position in shares of Apple by 0.7% during the first quarter. CKW Financial Group now owns 15,697 shares of the iPhone maker’s stock worth $2,669,000 after acquiring an additional 103 shares during the last quarter. Donaldson Capital Management LLC lifted its stake in shares of Apple by 1.5% in the first quarter. Donaldson Capital Management LLC now owns 550,887 shares of the iPhone maker’s stock worth $94,466,000 after acquiring an additional 8,278 shares during the period. Waycross Investment Management Co boosted its holdings in Apple by 1.6% in the first quarter. Waycross Investment Management Co now owns 12,692 shares of the iPhone maker’s stock valued at $2,176,000 after acquiring an additional 201 shares during the last quarter. Finally, Signature Wealth Management Group increased its position in Apple by 3.4% during the 1st quarter. Signature Wealth Management Group now owns 8,743 shares of the iPhone maker’s stock valued at $1,443,000 after purchasing an additional 284 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 100,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,271 shares of company stock worth $63,653,887. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $4.20 during midday trading on Monday, reaching $173.50. The company’s stock had a trading volume of 66,161,781 shares, compared to its average volume of 60,497,953. The stock has a market capitalization of $2.68 trillion, a P/E ratio of 27.02, a PEG ratio of 2.04 and a beta of 1.27. 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 50 day moving average price of $172.86 and a 200-day moving average price of $181.77. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $199.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. As a group, equities analysts predict that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group reiterated a “hold” rating and set a $190.00 price target on shares of Apple in a report on Monday, March 25th. Piper Sandler lowered their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Monness Crespi & Hardt boosted their price target on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Redburn Atlantic downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 10th. Finally, Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.62.

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.