Spectrum Wealth Advisory Group LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 10.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,001 shares of the iPhone maker’s stock after selling 2,913 shares during the quarter. Apple comprises 6.7% of Spectrum Wealth Advisory Group LLC’s holdings, making the stock its 6th biggest position. Spectrum Wealth Advisory Group LLC’s holdings in Apple were worth $5,043,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Atlantic Private Wealth LLC bought a new position in shares of Apple in the first quarter worth $30,000. Summit Wealth Group LLC increased its position in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC increased its position in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Clear Perspectives Financial Planning LLC increased its position in shares of Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares during the period. Finally, Magellan Asset Management Ltd increased its position in shares of Apple by 10.6% in the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 58.51% of the company’s stock.
Insider Activity
In related news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock worth $79,238,767 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
View Our Latest Research Report on AAPL
Apple Trading Down 0.2 %
NASDAQ AAPL opened at $175.46 on Friday. The company has a market cap of $2.74 trillion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.38 and a beta of 1.28. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The business has a 50 day moving average price of $177.89 and a 200-day moving average price of $178.75. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is 16.13%.
Apple 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.
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