Spirepoint Private Client LLC Has $29.55 Million Stock Holdings in Apple Inc. $AAPL

Spirepoint Private Client LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,013 shares of the iPhone maker’s stock after selling 168 shares during the quarter. Apple accounts for about 3.3% of Spirepoint Private Client LLC’s holdings, making the stock its 3rd biggest holding. Spirepoint Private Client LLC’s holdings in Apple were worth $29,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Ryan Investment Management Inc. bought a new position in Apple in the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new position in Apple in the first quarter valued at about $58,000. LSV Asset Management bought a new position in Apple in the fourth quarter valued at about $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple in the first quarter valued at about $99,000. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Down 3.5%

NASDAQ AAPL opened at $245.27 on Monday. The business has a 50 day simple moving average of $237.61 and a 200 day simple moving average of $215.83. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock valued at $64,320,190 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AAPL. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Evercore ISI set a $290.00 price target on Apple and gave the company an “outperform” rating in a research note on Friday, September 26th. Melius Research set a $290.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a research note on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $248.29.

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.