Spectrum Wealth Counsel LLC Sells 16,203 Shares of Apple Inc. (NASDAQ:AAPL)

Spectrum Wealth Counsel LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,403 shares of the iPhone maker’s stock after selling 16,203 shares during the period. Apple makes up approximately 2.9% of Spectrum Wealth Counsel LLC’s holdings, making the stock its 5th biggest holding. Spectrum Wealth Counsel LLC’s holdings in Apple were worth $23,043,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB bought a new stake in Apple during the 1st quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC increased its stake in Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC increased its stake in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Apple during the 2nd quarter worth approximately $834,368,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 1.3 %

Shares of NASDAQ AAPL opened at $222.91 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business’s fifty day moving average price is $227.18 and its 200-day moving average price is $212.03. The stock has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, equities research analysts anticipate that Apple Inc. will post 6.6 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is currently 15.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AAPL. Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Finally, New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $236.23.

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.