Apple Inc. (NASDAQ:AAPL) Stock Holdings Lowered by Spinnaker Trust

Spinnaker Trust lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,563 shares of the iPhone maker’s stock after selling 1,589 shares during the period. Apple comprises approximately 3.1% of Spinnaker Trust’s investment portfolio, making the stock its 8th largest holding. Spinnaker Trust’s holdings in Apple were worth $50,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Apple by 20,372.7% in the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Apple by 22,870.6% in the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after buying an additional 5,566,250 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $834,368,000. Finally, National Pension Service boosted its position in shares of Apple by 14.0% during the 3rd quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock valued at $6,496,738,000 after acquiring an additional 3,416,922 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $236.85 on Friday. The business has a 50 day moving average price of $240.18 and a 200 day moving average price of $229.95. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market capitalization of $3.58 trillion, a P/E ratio of 38.96, a PEG ratio of 2.41 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is 16.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. Loop Capital cut their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. New Street Research reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.