Spectrum Investment Advisors Inc. Decreases Stock Position in Apple Inc. $AAPL

Spectrum Investment Advisors Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 23.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,415 shares of the iPhone maker’s stock after selling 1,048 shares during the quarter. Apple comprises approximately 0.4% of Spectrum Investment Advisors Inc.’s holdings, making the stock its 18th largest holding. Spectrum Investment Advisors Inc.’s holdings in Apple were worth $701,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Nexus Investment Management ULC grew its stake in Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after purchasing an additional 200 shares in the last quarter. LSV Asset Management purchased a new position in Apple during the 4th quarter worth $65,000. Finally, Elite Financial Inc. bought a new stake in Apple during the 1st quarter valued at $58,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. UBS Group increased their price target on Apple from $220.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, July 25th. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating and raised their target price for the company from $203.07 to $246.99 in a research report on Friday, October 31st. Sanford C. Bernstein set a $325.00 price target on shares of Apple in a research report on Monday, November 3rd. Finally, Barclays lifted their price objective on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 in the last 90 days. 0.06% of the stock is owned by insiders.

Apple Stock Down 0.2%

NASDAQ:AAPL opened at $272.41 on Friday. The company’s 50-day simple moving average is $255.92 and its 200-day simple moving average is $226.95. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The stock has a market capitalization of $4.03 trillion, a P/E ratio of 41.34, a P/E/G ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

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.