Apple Inc. (NASDAQ:AAPL) Shares Purchased by SPC Financial Inc.

SPC Financial Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,254 shares of the iPhone maker’s stock after buying an additional 5,493 shares during the quarter. Apple accounts for 1.2% of SPC Financial Inc.’s investment portfolio, making the stock its 26th largest position. SPC Financial Inc.’s holdings in Apple were worth $13,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. Hoese & Co LLP lifted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple during the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter valued at $208,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Down 0.1 %

NASDAQ:AAPL opened at $242.84 on Monday. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $244.63. The stock has a fifty day moving average price of $230.53 and a two-hundred day moving average price of $221.83. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. Rosenblatt Securities lifted their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America boosted their target price on Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Finally, Citigroup increased their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.68.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.