SP Asset Management LLC Boosts Stock Holdings in Apple Inc. $AAPL

by · The Markets Daily

SP Asset Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 27.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 237,352 shares of the iPhone maker’s stock after buying an additional 50,983 shares during the period. Apple accounts for 4.0% of SP Asset Management LLC’s portfolio, making the stock its 4th biggest position. SP Asset Management LLC’s holdings in Apple were worth $48,698,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Futures Ltd Liability Co. lifted its holdings in shares of Apple by 13.2% during the second quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock valued at $729,000 after purchasing an additional 415 shares during the last quarter. Bell & Brown Wealth Advisors LLC lifted its stake in Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after acquiring an additional 240 shares during the period. American National Bank & Trust boosted its holdings in Apple by 2.4% in the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after purchasing an additional 4,543 shares during the last quarter. Andina Capital Management LLC boosted its stake in shares of Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the last quarter. Finally, Riverwater Partners LLC grew its stake in shares of Apple by 17.9% during the 2nd quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock valued at $1,109,000 after purchasing an additional 819 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

NASDAQ:AAPL opened at $284.15 on Thursday. The business’s 50-day simple moving average is $265.09 and its two-hundred day simple moving average is $233.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62. The stock has a market cap of $4.20 trillion, a PE ratio of 38.04, a P/E/G ratio of 2.64 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.64 earnings per share. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Monness Crespi & Hardt upped their target price on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Melius raised their target price on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Rosenblatt Securities lifted their target price on Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. DA Davidson boosted their price target on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, Wall Street Zen downgraded Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $278.53.

View Our Latest Report on Apple

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is owned by corporate insiders.

About Apple

(Free Report)

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.

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