Spectrum Wealth Advisory Group LLC Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

Spectrum Wealth Advisory Group LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 41.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,378 shares of the iPhone maker’s stock after buying an additional 9,785 shares during the quarter. Apple makes up about 3.9% of Spectrum Wealth Advisory Group LLC’s investment portfolio, making the stock its 8th biggest position. Spectrum Wealth Advisory Group LLC’s holdings in Apple were worth $8,358,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Amara Financial LLC. bought a new position in Apple in the 3rd quarter valued at $288,000. Silicon Valley Capital Partners boosted its holdings in Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after acquiring an additional 28,799 shares during the last quarter. Catalyst Financial Partners LLC raised its holdings in Apple by 4.2% during the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock worth $22,505,000 after purchasing an additional 3,935 shares during the last quarter. Vestcor Inc boosted its stake in shares of Apple by 10.1% in the 3rd quarter. Vestcor Inc now owns 375,539 shares of the iPhone maker’s stock valued at $87,501,000 after purchasing an additional 34,414 shares during the last quarter. Finally, 5th Street Advisors LLC raised its stake in shares of Apple by 32.9% during the third quarter. 5th Street Advisors LLC now owns 15,100 shares of the iPhone maker’s stock worth $3,518,000 after buying an additional 3,736 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Redburn Partners set a $230.00 target price on Apple in a research note on Friday, January 31st. Morgan Stanley reduced their price objective on shares of Apple from $252.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Argus raised shares of Apple to a “strong-buy” rating in a research note on Friday, January 31st. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Finally, Raymond James lifted their target price on Apple to $250.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.85.

Apple Stock Down 1.9 %

AAPL opened at $193.16 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a fifty day moving average of $218.77 and a 200-day moving average of $229.90. Apple Inc. has a fifty-two week low of $164.77 and a fifty-two week high of $260.10. The company has a market capitalization of $2.90 trillion, a P/E ratio of 30.66, a P/E/G ratio of 2.44 and a beta of 1.26.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. Apple’s payout ratio is 15.87%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. Company insiders own 0.06% of the company’s stock.

About Apple

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.