Apple Inc. (NASDAQ:AAPL) Shares Sold by Spreng Capital Management Inc.

Spreng Capital Management Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,767 shares of the iPhone maker’s stock after selling 524 shares during the quarter. Apple accounts for approximately 5.0% of Spreng Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Spreng Capital Management Inc.’s holdings in Apple were worth $8,041,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC acquired a new position in Apple during the first quarter worth $30,000. Wyrmwood Management LLC raised its stake in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Summit Wealth Group LLC boosted its position in shares of Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC grew its stake in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the last quarter. Finally, PayPay Securities Corp increased its holdings in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.9 %

Shares of NASDAQ AAPL opened at $176.55 on Monday. The stock has a fifty day moving average price of $176.70 and a 200 day moving average price of $182.31. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. Apple Inc. has a 12-month low of $161.42 and a 12-month high of $199.62. The company has a market cap of $2.73 trillion, a P/E ratio of 27.50, a P/E/G ratio of 2.13 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 earnings per share. Research analysts anticipate that Apple Inc. will post 6.55 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. Apple’s dividend payout ratio is currently 14.95%.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,915 shares of company stock worth $44,202,868. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. Redburn Atlantic downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target on the stock. in a report on Wednesday, January 10th. The Goldman Sachs Group increased their target price on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Piper Sandler Companies downgraded Apple to a “neutral” rating and dropped their price target for the stock from $220.00 to $205.00 in a research report on Thursday, January 4th. Redburn Partners downgraded Apple to a “neutral” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, January 10th. Finally, DZ Bank reiterated a “hold” rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $204.08.

Apple Company 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.