Apple Inc. (NASDAQ:AAPL) is Spirit of America Management Corp NY’s 9th Largest Position

Spirit of America Management Corp NY reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,732 shares of the iPhone maker’s stock after selling 300 shares during the period. Apple comprises 2.1% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 9th biggest position. Spirit of America Management Corp NY’s holdings in Apple were worth $9,382,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Claro Advisors LLC increased its stake in Apple by 3.4% in the 4th quarter. Claro Advisors LLC now owns 115,800 shares of the iPhone maker’s stock valued at $22,295,000 after purchasing an additional 3,754 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in Apple by 5.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 516,138 shares of the iPhone maker’s stock valued at $99,372,000 after purchasing an additional 24,506 shares in the last quarter. LifeGuide Financial Advisors LLC increased its stake in Apple by 1.2% in the 4th quarter. LifeGuide Financial Advisors LLC now owns 9,070 shares of the iPhone maker’s stock valued at $1,746,000 after purchasing an additional 109 shares in the last quarter. Kowal Investment Group LLC increased its stake in Apple by 3.6% in the 4th quarter. Kowal Investment Group LLC now owns 46,186 shares of the iPhone maker’s stock valued at $8,892,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Horizon Wealth Management LLC grew its holdings in Apple by 2.4% during the 4th quarter. Horizon Wealth Management LLC now owns 66,787 shares of the iPhone maker’s stock valued at $12,858,000 after buying an additional 1,591 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 0.6 %

NASDAQ:AAPL opened at $167.04 on Friday. The business’s 50-day moving average is $175.15 and its two-hundred day moving average is $182.10. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 12 month low of $162.80 and a 12 month high of $199.62. The firm has a market capitalization of $2.58 trillion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same period last year, the company posted $1.88 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. DZ Bank reiterated a “hold” rating and set a $180.00 target price on shares of Apple in a report on Thursday, March 28th. UBS Group reiterated a “hold” rating and set a $190.00 target price on shares of Apple in a report on Monday, March 25th. Piper Sandler Companies cut Apple to a “neutral” rating and lowered their target price for the company from $220.00 to $205.00 in a report on Thursday, January 4th. Monness Crespi & Hardt increased their target price on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, DA Davidson assumed coverage on Apple in a report on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.34.

Insider Buying and Selling at Apple

In other news, 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 transaction of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 sale, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock valued at $63,653,887 over the last three months. 0.06% of the stock is owned by company insiders.

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.