Apple Inc. (NASDAQ:AAPL) is Hartford Financial Management Inc.’s 2nd Largest Position

Hartford Financial Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,916 shares of the iPhone maker’s stock after selling 321 shares during the period. Apple accounts for approximately 2.8% of Hartford Financial Management Inc.’s portfolio, making the stock its 2nd largest position. Hartford Financial Management Inc.’s holdings in Apple were worth $11,684,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Daniels&Tansey LLP grew its position in Apple by 1.6% in the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after purchasing an additional 60 shares during the period. Donald L. Hagan LLC grew its position in Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares during the period. Goodwin Daniel L grew its position in Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares during the period. Opus Capital Group LLC grew its position in Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares during the period. Finally, Norwood Financial Corp grew its position in Apple by 0.9% in the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares during the period. 57.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Itaú Unibanco started coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research note on Friday, July 29th. Evercore ISI lifted their price target on shares of Apple from $180.00 to $185.00 in a research note on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research note on Monday, August 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $190.00 price target on shares of Apple in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.18.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Apple stock opened at $163.62 on Monday. The company’s 50-day moving average price is $154.62 and its 200-day moving average price is $157.03. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company has a market cap of $2.63 trillion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.16 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the previous year, the firm posted $1.30 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.56%. Apple’s payout ratio is 15.18%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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