Apple Inc. (NASDAQ:AAPL) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 934,023 shares of the iPhone maker's stock after selling 22,832 shares during the quarter. Apple accounts for about 7.7% of Hartford Investment Management Co.'s portfolio, making the stock its biggest holding. Hartford Investment Management Co.'s holdings in Apple were worth $233,898,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Drystone LLC acquired a new position in shares of Apple in the 4th quarter valued at $25,000. Bull Oak Capital LLC lifted its stake in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after buying an additional 111 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in shares of Apple in the third quarter worth about $71,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple in the third quarter worth approximately $77,000. Finally, ARK Investment Management LLC acquired a new stake in shares of Apple during the third quarter valued at approximately $110,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

AAPL stock traded up $2.52 during trading on Friday, reaching $196.79. 51,328,536 shares of the stock were exchanged, compared to its average volume of 56,825,645. The stock has a 50 day simple moving average of $219.65 and a 200-day simple moving average of $230.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $2.96 trillion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. Apple Inc. has a twelve month low of $164.77 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.51%. Apple's dividend payout ratio (DPR) is currently 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. Loop Capital cut shares of Apple from a "buy" rating to a "hold" rating and set a $230.00 price objective on the stock. in a research report on Tuesday, January 21st. Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating and lowered their target price for the company from $202.33 to $167.88 in a research note on Wednesday, April 9th. Citigroup decreased their price target on shares of Apple from $275.00 to $245.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI lifted their price objective on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Finally, Tigress Financial upped their target price on Apple from $295.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Apple has an average rating of "Moderate Buy" and an average price target of $235.85.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares in the company, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,451 shares of company stock valued at $40,818,720 over the last quarter. 0.06% of the stock is owned by company 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.