Spectrum Wealth Advisory Group LLC Acquires 214 Shares of Apple Inc. (NASDAQ:AAPL)

Spectrum Wealth Advisory Group LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,009 shares of the iPhone maker’s stock after purchasing an additional 214 shares during the quarter. Apple makes up about 5.9% of Spectrum Wealth Advisory Group LLC’s portfolio, making the stock its 6th biggest holding. Spectrum Wealth Advisory Group LLC’s holdings in Apple were worth $5,478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bellwether Advisors LLC boosted its stake in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC acquired a new position in shares of Apple during the 2nd quarter valued at about $876,000. WT Asset Management Ltd acquired a new position in shares of Apple during the 2nd quarter valued at about $80,057,000. TD Asset Management Inc boosted its position in shares of Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after acquiring an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC acquired a new position in shares of Apple during the 1st quarter valued at about $11,776,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AAPL shares. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Thursday, September 19th. New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Barclays reissued an “underweight” rating and set a $186.00 price target on shares of Apple in a research report on Tuesday, October 1st. Melius Research restated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, Wedbush restated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9 %

AAPL stock opened at $233.40 on Tuesday. The company’s 50 day moving average price is $227.01 and its 200 day moving average price is $211.05. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s payout ratio is 15.55%.

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.