Harbour Wealth Management Group Inc. Takes Position in Apple Inc. $AAPL

Harbour Wealth Management Group Inc. purchased a new position in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,178 shares of the iPhone maker’s stock, valued at approximately $3,854,000. Apple accounts for approximately 3.0% of Harbour Wealth Management Group Inc.’s investment portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. lifted its holdings in shares of Apple by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. State Street Corp increased its stake in Apple by 1.1% during the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock valued at $164,218,801,000 after purchasing an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC increased its stake in Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after purchasing an additional 1,866,103 shares in the last quarter. Morgan Stanley raised its holdings in Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after buying an additional 1,379,651 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Apple in the fourth quarter valued at $52,266,468,000. 67.73% of the stock is owned by institutional investors.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reiterated a Buy rating on Apple and kept a $380 price target, citing Apple’s pricing power, strong supply-chain position, and ability to manage rising memory costs. Article Title
• Positive Sentiment: President Trump said Apple will work with Intel to design and build chips in the U.S., raising hopes for a domestic supply-chain boost and stronger strategic positioning for Apple. Article Title
• Positive Sentiment: Analysts said Apple is relatively well positioned to weather the AI-driven memory shortage because of its scale, inventory, and supplier relationships, which may help protect hardware margins. Article Title
• Neutral Sentiment: Apple reportedly plans to raise prices across its product lineup, which could support margins but may also weigh on consumer demand if the increases are too large. Article Title
• Neutral Sentiment: Apple is also reportedly developing new AI wearables and a foldable iPhone for 2027, which supports the long-term product pipeline but is unlikely to affect near-term earnings. Article Title
• Negative Sentiment: Italy opened a Digital Markets Act probe into Apple’s cloud interoperability practices, adding another regulatory risk for the company in Europe. Article Title

Apple Stock Performance

Shares of AAPL stock opened at $298.01 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 firm has a 50-day moving average of $288.95 and a 200-day moving average of $272.80. Apple Inc. has a one year low of $196.85 and a one year high of $317.40. The company has a market cap of $4.38 trillion, a P/E ratio of 36.04, a P/E/G ratio of 2.58 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the firm posted $1.65 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 8.75 EPS 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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is presently 13.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. UBS Group reaffirmed a “buy” rating on shares of Apple in a research report on Tuesday, June 9th. Stifel Nicolaus set a $330.00 price target on Apple in a research note on Monday, March 2nd. Oppenheimer reissued a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Tigress Financial restated a “strong-buy” rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.59.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 97,875 shares of company stock valued at $24,998,541. Insiders own 0.06% of the company’s stock.

Apple 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.