Spectrum Wealth Advisory Group LLC Purchases 387 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 6th, 2023

Spectrum Wealth Advisory Group LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,914 shares of the iPhone maker’s stock after acquiring an additional 387 shares during the quarter. Apple makes up 6.4% of Spectrum Wealth Advisory Group LLC’s portfolio, making the stock its 7th biggest holding. Spectrum Wealth Advisory Group LLC’s holdings in Apple were worth $4,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after buying an additional 8,734,393 shares during the period. Moneta Group Investment Advisors LLC raised its position in Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after purchasing an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 282,749,817 shares of the iPhone maker’s stock worth $36,671,884,000 after buying an additional 2,991,299 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Apple by 0.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 226,281,368 shares of the iPhone maker’s stock worth $29,400,739,000 after buying an additional 1,417,827 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Apple by 14.2% during the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after buying an additional 25,926,552 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. Fundamental Research set a $183.86 price target on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, May 17th. Raymond James lifted their price target on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. TD Cowen raised their price objective on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Evercore ISI lifted their price target on shares of Apple from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, June 5th. Finally, Canaccord Genuity Group lifted their price target on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Ten analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

Get Our Latest Analysis on AAPL

Apple Stock Up 0.1 %

Apple stock opened at $189.70 on Wednesday. The firm’s fifty day moving average price is $186.94 and its two-hundred day moving average price is $174.00. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 2.76 and a beta of 1.27. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter last year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. Apple’s dividend payout ratio is presently 16.13%.

Apple Profile

(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.