Harbour Wealth Management Group Inc. Makes New $3.85 Million Investment in Apple Inc. $AAPL

Harbour Wealth Management Group Inc. acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,178 shares of the iPhone maker’s stock, valued at approximately $3,854,000. Apple accounts for about 3.0% of Harbour Wealth Management Group Inc.’s investment portfolio, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Apple during the 4th quarter worth $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple in the 1st quarter valued at approximately $17,472,482,000. Cardano Risk Management B.V. lifted its holdings in shares of Apple by 890.7% during 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 acquiring an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC boosted its position in shares of Apple by 20,464.8% during 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 acquiring an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position 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 worth $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 0.7%

Shares of NASDAQ AAPL opened at $298.01 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 52-week low of $196.85 and a 52-week high of $317.40. The firm has a 50 day moving average price of $288.95 and a two-hundred day moving average price of $272.80. The stock has a market cap of $4.38 trillion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 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 company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. Apple’s revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AAPL shares. Wedbush restated an “outperform” rating and set a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. Bank of America restated a “buy” rating and set a $380.00 price objective on shares of Apple in a research report on Thursday. DA Davidson reissued a “neutral” rating and set a $270.00 target price on shares of Apple in a research note on Friday, May 1st. Stifel Nicolaus set a $330.00 price objective on Apple in a report on Monday, March 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $314.59.

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

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 97,875 shares of company stock worth $24,998,541. Corporate insiders own 0.06% of the company’s stock.

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.