Spectrum Planning & Advisory Services Inc. Buys Shares of 3,676 Apple Inc. (NASDAQ:AAPL)

Spectrum Planning & Advisory Services Inc. bought a new stake in Apple Inc. (NASDAQ:AAPL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,676 shares of the iPhone maker’s stock, valued at approximately $787,000. Apple comprises about 0.8% of Spectrum Planning & Advisory Services Inc.’s holdings, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in shares of Apple in the 1st quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple in the 4th quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. lifted its position in shares of Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the period. Clarity Asset Management Inc. bought a new stake in shares of Apple in the 4th quarter worth approximately $85,000. Finally, Clear Street Markets LLC lifted its position in shares of Apple by 100.6% in the 4th quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock worth $93,000 after acquiring an additional 83,965 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Down 2.8 %

NASDAQ AAPL opened at $216.32 on Tuesday. The stock has a fifty day moving average of $222.91 and a 200-day moving average of $199.00. The stock has a market capitalization of $3.32 trillion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Robert W. Baird raised their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Oppenheimer restated an “outperform” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.17.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 over the last three months. Company insiders own 0.06% of the company’s stock.

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.