Spectrum Wealth Advisory Group LLC Sells 154 Shares of Apple Inc. (NASDAQ:AAPL)

Spectrum Wealth Advisory Group LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,849 shares of the iPhone maker’s stock after selling 154 shares during the period. Apple makes up 6.1% of Spectrum Wealth Advisory Group LLC’s portfolio, making the stock its 6th largest position. Spectrum Wealth Advisory Group LLC’s holdings in Apple were worth $4,977,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AAPL. Headinvest LLC lifted its stake in Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after buying an additional 872 shares in the last quarter. Sound Income Strategies LLC lifted its position in Apple by 16.1% in the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after acquiring an additional 10,425 shares in the last quarter. DNB Asset Management AS boosted its stake in Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after purchasing an additional 279,311 shares during the period. Boltwood Capital Management increased its holdings in Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after purchasing an additional 1,021 shares in the last quarter. Finally, Private Wealth Partners LLC raised its stake in shares of Apple by 3.8% in the 3rd quarter. Private Wealth Partners LLC now owns 673,349 shares of the iPhone maker’s stock valued at $115,284,000 after purchasing an additional 24,634 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 366,271 shares of company stock valued at $63,653,887. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $183.38 on Friday. The firm has a market capitalization of $2.83 trillion, a P/E ratio of 28.56, a P/E/G ratio of 2.05 and a beta of 1.26. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. The stock has a 50 day moving average price of $172.15 and a two-hundred day moving average price of $181.57. 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:AAPL) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Apple’s revenue was down 4.3% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 6.53 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.55%. Apple’s payout ratio is 14.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AAPL shares. Monness Crespi & Hardt lifted their target price on Apple from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays raised their target price on shares of Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research report on Friday. UBS Group reissued a “hold” rating and set a $190.00 price target on shares of Apple in a research report on Monday, March 25th. Finally, DZ Bank reiterated a “hold” rating and set a $180.00 price objective on shares of Apple in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $203.72.

Apple 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.