Spinnaker Investment Group LLC Has $11.70 Million Position in Apple Inc. (NASDAQ:AAPL)

Spinnaker Investment Group LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 46,714 shares of the iPhone maker’s stock after selling 847 shares during the period. Apple comprises about 2.8% of Spinnaker Investment Group LLC’s portfolio, making the stock its 11th biggest holding. Spinnaker Investment Group LLC’s holdings in Apple were worth $11,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. O Connor Financial Group LLC increased its holdings in Apple by 1.2% in the 4th quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after acquiring an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. grew its position in shares of Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares during the period. Carolina Wealth Advisors LLC grew its position in shares of Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the period. Menard Financial Group LLC increased its stake in shares of Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after purchasing an additional 48 shares in the last quarter. Finally, Hanseatic Management Services Inc. raised its position in shares of Apple by 1.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AAPL shares. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a report on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $262.00 price target on shares of Apple in a research note on Monday, January 27th. Moffett Nathanson reiterated a “sell” rating and set a $188.00 price target (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company upped their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $243.22.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Apple Stock Up 1.8 %

NASDAQ:AAPL opened at $213.49 on Friday. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The stock’s fifty day moving average is $234.52 and its two-hundred day moving average is $233.73. The stock has a market capitalization of $3.21 trillion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

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.