Spinnaker Investment Group LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

Spinnaker Investment Group LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 47,561 shares of the iPhone maker’s stock after purchasing an additional 957 shares during the quarter. Apple comprises approximately 2.7% of Spinnaker Investment Group LLC’s holdings, making the stock its 11th largest holding. Spinnaker Investment Group LLC’s holdings in Apple were worth $11,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC acquired a new position in shares of Apple during the third quarter worth about $110,000. Finally, Cordant Inc. boosted its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Friday, October 25th. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $211.84 to $200.75 in a report on Tuesday. Finally, UBS Group restated a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.05.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $222.78 on Friday. The company has a 50-day simple moving average of $240.97 and a 200 day simple moving average of $230.72. The company has a market capitalization of $3.35 trillion, a P/E ratio of 36.64, a PEG ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.