SP Asset Management LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

SP Asset Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 189,179 shares of the iPhone maker’s stock after selling 700 shares during the quarter. Apple comprises approximately 3.6% of SP Asset Management LLC’s holdings, making the stock its 4th largest position. SP Asset Management LLC’s holdings in Apple were worth $32,389,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Center For Asset Management LLC lifted its position in shares of Apple by 53.3% during the 2nd quarter. Center For Asset Management LLC now owns 21,898 shares of the iPhone maker’s stock worth $4,247,000 after purchasing an additional 7,616 shares during the last quarter. Kingdom Financial Group LLC. lifted its position in shares of Apple by 5.5% during the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after purchasing an additional 598 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Apple by 13.6% during the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after purchasing an additional 20,737 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in shares of Apple by 22.2% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 7,897 shares of the iPhone maker’s stock worth $1,532,000 after purchasing an additional 1,436 shares during the last quarter. Finally, Tsfg LLC lifted its position in shares of Apple by 2.2% during the 3rd quarter. Tsfg LLC now owns 50,943 shares of the iPhone maker’s stock worth $8,722,000 after purchasing an additional 1,091 shares during the last quarter. Institutional investors own 58.51% of the company’s stock.

Apple Stock Down 1.0 %

NASDAQ AAPL opened at $182.52 on Friday. The stock has a fifty day moving average of $188.29 and a 200-day moving average of $183.67. The stock has a market capitalization of $2.82 trillion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. Apple Inc. has a 52 week low of $143.90 and a 52 week high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.88 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.56 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.53%. Apple’s dividend payout ratio (DPR) is currently 14.95%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the sale, the insider now directly owns 29,174 shares of the company’s stock, valued at $5,601,408. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Tigress Financial boosted their price objective on Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 16th. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a report on Monday, October 30th. Piper Sandler Companies cut Apple to a “neutral” rating and cut their price target for the company from $220.00 to $205.00 in a report on Thursday, January 4th. Citigroup reaffirmed a “buy” rating and issued a $225.00 price target on shares of Apple in a report on Friday, February 16th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price target on shares of Apple in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.27.

View Our Latest Research Report on AAPL

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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