Spring Capital Management LLC Has $16.23 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Spring Capital Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,825 shares of the iPhone maker’s stock after purchasing an additional 5,046 shares during the period. Apple accounts for approximately 9.7% of Spring Capital Management LLC’s holdings, making the stock its biggest position. Spring Capital Management LLC’s holdings in Apple were worth $16,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mason & Associates LLC boosted its holdings in shares of Apple by 5.8% during the 4th quarter. Mason & Associates LLC now owns 7,386 shares of the iPhone maker’s stock valued at $1,850,000 after purchasing an additional 402 shares during the last quarter. InTrack Investment Management Inc boosted its holdings in shares of Apple by 13.0% during the 4th quarter. InTrack Investment Management Inc now owns 27,065 shares of the iPhone maker’s stock valued at $6,314,000 after purchasing an additional 3,104 shares during the last quarter. Selective Wealth Management Inc. boosted its holdings in shares of Apple by 1.1% during the 4th quarter. Selective Wealth Management Inc. now owns 28,692 shares of the iPhone maker’s stock valued at $6,693,000 after purchasing an additional 303 shares during the last quarter. Dakota Community Bank & Trust NA boosted its holdings in shares of Apple by 16.3% during the 4th quarter. Dakota Community Bank & Trust NA now owns 2,820 shares of the iPhone maker’s stock valued at $706,000 after purchasing an additional 395 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Apple during the 4th quarter valued at about $383,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $238.03 on Tuesday. The company has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $239.26 and a 200 day moving average of $233.85.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group increased their price target on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. DA Davidson set a $290.00 price target on shares of Apple in a report on Friday, January 31st. Argus raised shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.88.

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.