Spinnaker Investment Group LLC Sells 847 Shares of Apple Inc. (NASDAQ:AAPL)

Spinnaker Investment Group LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,714 shares of the iPhone maker’s stock after selling 847 shares during the period. Apple makes up about 2.8% of Spinnaker Investment Group LLC’s investment portfolio, making the stock its 11th biggest position. Spinnaker Investment Group LLC’s holdings in Apple were worth $11,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. High Net Worth Advisory Group LLC lifted its position in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. bought a new stake in shares of Apple during the third quarter worth approximately $288,000. Truist Financial Corp lifted its holdings in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares during the period. Sterling Investment Counsel LLC boosted its stake in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its holdings in Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after acquiring an additional 28,799 shares during the period. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. KeyCorp restated an “underweight” rating and set a $200.00 target price on shares of Apple in a report on Friday, January 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. Barclays increased their price target on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, UBS Group boosted their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.22.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $213.49 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The business has a 50-day moving average of $234.52 and a 200-day moving average of $233.73. The stock has a market capitalization of $3.21 trillion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Apple 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.