Apple Inc. (NASDAQ:AAPL) is Hartline Investment Corp’s 3rd Largest Position

Hartline Investment Corp trimmed its position in Apple Inc. (NASDAQ:AAPL) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 266,818 shares of the iPhone maker’s stock after selling 9,268 shares during the period. Apple comprises 7.8% of Hartline Investment Corp’s investment portfolio, making the stock its 3rd largest position. Hartline Investment Corp’s holdings in Apple were worth $62,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after buying an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after buying an additional 3,245,281 shares during the last quarter. American Century Companies Inc. boosted its holdings in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Apple by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker’s stock worth $8,035,283,000 after acquiring an additional 432,140 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $229.98 on Tuesday. The company has a market capitalization of $3.48 trillion, a P/E ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The firm’s 50 day simple moving average is $241.01 and its two-hundred day simple moving average is $230.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 EPS. Research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AAPL shares. Maxim Group upped their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. UBS Group reissued a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Barclays upped their price objective on Apple to $184.00 and gave the company a “sell” rating in a research report on Friday, January 10th. Finally, Oppenheimer reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.85.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

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.