Apple Inc. $AAPL Stock Holdings Lifted by Spectrum Strategic Capital Management LLC

Key Points

• Spectrum Strategic Capital Management LLC increased its stake in Apple Inc. by 17.1%, owning a total of 20,472 shares valued at approximately $4,200,000.
• Multiple hedge funds, including First National Bank of Hutchinson and Brighton Jones LLC, have also boosted their holdings in Apple, reflecting a total of 67.73% ownership of the stock by institutional investors.
• Analysts have set varying target prices for Apple stock, with Wedbush recommending an "outperform" rating and a $310.00 target price, along with a general consensus rating of "Moderate Buy".

Spectrum Strategic Capital Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,472 shares of the iPhone maker's stock after purchasing an additional 2,996 shares during the quarter. Apple accounts for 2.1% of Spectrum Strategic Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. Spectrum Strategic Capital Management LLC's holdings in Apple were worth $4,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First National Bank of Hutchinson boosted its stake in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its stake in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE boosted its stake in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after buying an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on AAPL. Wedbush set a $310.00 target price on Apple and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Tigress Financial boosted their target price on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their target price on Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. CLSA upgraded Apple to a "strong-buy" rating in a research report on Sunday, October 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $248.29.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 43,013 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the company's stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares of the company's stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $252.29 on Friday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. The business has a fifty day moving average of $241.13 and a 200-day moving average of $216.81. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

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.

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