Apple Inc. (NASDAQ:AAPL) is SP Asset Management’s 5th Largest Position

SP Asset Management reduced its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,616 shares of the iPhone maker’s stock after selling 321 shares during the quarter. Apple makes up about 3.5% of SP Asset Management’s holdings, making the stock its 5th largest position. SP Asset Management’s holdings in Apple were worth $35,030,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Ironwood Investment Counsel LLC boosted its holdings in shares of Apple by 2.4% in the third quarter. Ironwood Investment Counsel LLC now owns 136,925 shares of the iPhone maker’s stock worth $19,374,000 after acquiring an additional 3,229 shares during the period. Marcum Wealth LLC boosted its holdings in shares of Apple by 6.8% in the fourth quarter. Marcum Wealth LLC now owns 106,650 shares of the iPhone maker’s stock worth $18,938,000 after acquiring an additional 6,827 shares during the period. Gs Investments Inc. bought a new position in shares of Apple in the third quarter worth $9,268,000. ERn Financial LLC boosted its holdings in shares of Apple by 17.9% in the third quarter. ERn Financial LLC now owns 24,927 shares of the iPhone maker’s stock worth $3,527,000 after acquiring an additional 3,786 shares during the period. Finally, Strategic Asset Management LLC bought a new stake in Apple during the third quarter valued at $2,594,000. 57.98% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on Apple from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Friday, March 11th. UBS Group set a $185.00 price objective on Apple in a research note on Monday, April 4th. Cowen lifted their price objective on Apple from $180.00 to $200.00 in a research note on Friday, January 28th. Tigress Financial lifted their price objective on Apple from $198.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 15th. Finally, New Street Research raised Apple from a “sell” rating to a “neutral” rating and set a $165.00 price objective for the company in a research note on Friday, January 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $190.24.

In other news, Director Arthur D. Levinson sold 1,986 shares of the business’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $173.29, for a total value of $344,153.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 105,901 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $177.75, for a total value of $18,823,902.75. Following the completion of the sale, the chief operating officer now directly owns 489,662 shares in the company, valued at $87,037,420.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,085 shares of company stock worth $30,047,365. Insiders own 0.06% of the company’s stock.

Shares of NASDAQ:AAPL opened at $161.79 on Friday. Apple Inc. has a 1 year low of $122.25 and a 1 year high of $182.94. The company has a market cap of $2.64 trillion, a PE ratio of 26.79, a P/E/G ratio of 2.15 and a beta of 1.19. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.04 and a quick ratio of 1.00. The stock’s 50-day moving average is $166.72 and its 200 day moving average is $164.34.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, January 27th. The iPhone maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.21. Apple had a return on equity of 149.81% and a net margin of 26.58%. The company had revenue of $123.95 billion for the quarter, compared to the consensus estimate of $118.53 billion. During the same quarter in the previous year, the business earned $1.68 EPS. Apple’s revenue was up 11.3% compared to the same quarter last year. Analysts expect that Apple Inc. will post 6.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 10th. Shareholders of record on Monday, February 7th were given a dividend of $0.22 per share. The ex-dividend date was Friday, February 4th. This represents a $0.88 annualized dividend and a yield of 0.54%. Apple’s payout ratio is 14.57%.

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; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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