K.J. Harrison & Partners Inc Sells 1,934 Shares of Apple Inc. (AAPL)

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K.J. Harrison & Partners Inc cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,038 shares of the iPhone maker’s stock after selling 1,934 shares during the period. Apple comprises about 3.5% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its largest position. K.J. Harrison & Partners Inc’s holdings in Apple were worth $12,224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Summit Trail Advisors LLC grew its holdings in shares of Apple by 17,669.4% during the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after purchasing an additional 20,067,124 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Apple by 1.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock worth $3,290,212,000 after purchasing an additional 347,970 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Apple by 18,553.3% during the second quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after purchasing an additional 16,668,866 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Apple by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock worth $2,711,005,000 after purchasing an additional 55,050 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Apple by 0.4% during the first quarter. American Century Companies Inc. now owns 14,064,371 shares of the iPhone maker’s stock worth $2,359,720,000 after purchasing an additional 60,860 shares during the last quarter. Institutional investors and hedge funds own 58.44% of the company’s stock.

Shares of Apple stock opened at $208.49 on Friday. Apple Inc. has a 1 year low of $150.24 and a 1 year high of $233.47. The stock has a market capitalization of $1,001.56 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company had revenue of $62.90 billion during the quarter, compared to the consensus estimate of $61.55 billion. During the same period in the prior year, the company earned $2.07 earnings per share. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 13.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be issued a $0.73 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.92 annualized dividend and a dividend yield of 1.40%. Apple’s dividend payout ratio (DPR) is currently 24.52%.

Several brokerages have recently commented on AAPL. Morgan Stanley increased their target price on Apple from $226.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. Rosenblatt Securities cut Apple to a “hold” rating and set a $200.00 target price on the stock. in a report on Monday. Macquarie restated a “buy” rating and set a $222.00 target price on shares of Apple in a report on Monday. Nomura restated a “neutral” rating and set a $185.00 target price on shares of Apple in a report on Monday. Finally, Robert W. Baird decreased their target price on Apple from $235.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $224.27.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the completion of the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at $24,554,471.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $227.96, for a total value of $3,235,664.24. Following the transaction, the senior vice president now owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The disclosure for this sale can be found here. Insiders sold 480,737 shares of company stock valued at $107,157,170 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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