Spirit of America Management Corp NY Sells 1,850 Shares of Apple Inc. (NASDAQ:AAPL)

Spirit of America Management Corp NY reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 55,232 shares of the iPhone maker’s stock after selling 1,850 shares during the quarter. Apple makes up approximately 1.8% of Spirit of America Management Corp NY’s holdings, making the stock its 14th largest holding. Spirit of America Management Corp NY’s holdings in Apple were worth $7,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AAPL. Bluestem Financial Advisors LLC increased its holdings in shares of Apple by 5,935.2% in the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 229,929 shares during the period. CFS Investment Advisory Services LLC increased its holdings in shares of Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after purchasing an additional 7,416,445 shares during the period. Spence Asset Management purchased a new stake in shares of Apple in the second quarter worth about $49,000. HBC Financial Services PLLC boosted its stake in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Apple in the second quarter worth about $55,000. 57.60% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

AAPL stock opened at $130.73 on Wednesday. The business has a fifty day moving average of $139.75 and a two-hundred day moving average of $148.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 6.19 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 0.70%. Apple’s dividend payout ratio is currently 15.06%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the sale, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Insiders sold a total of 204,552 shares of company stock worth $31,645,123 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent research reports. UBS Group set a $180.00 target price on Apple in a research note on Thursday, December 1st. Citigroup restated a “buy” rating and issued a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. JPMorgan Chase & Co. set a $190.00 target price on Apple in a research note on Monday, January 2nd. Bank of America lowered their target price on Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research note on Monday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $172.25.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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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