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

Spinnaker Trust lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,865 shares of the iPhone maker’s stock after selling 4,115 shares during the period. Apple makes up about 2.2% of Spinnaker Trust’s investment portfolio, making the stock its 10th largest position. Spinnaker Trust’s holdings in Apple were worth $31,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. OLD Mission Capital LLC bought a new stake in shares of Apple in the third quarter worth $1,238,000. Atlas Private Wealth Management increased its stake in shares of Apple by 0.8% in the first quarter. Atlas Private Wealth Management now owns 51,756 shares of the iPhone maker’s stock worth $6,322,000 after buying an additional 396 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Apple by 2.5% in the first quarter. Fisher Asset Management LLC now owns 62,813,919 shares of the iPhone maker’s stock worth $7,672,720,000 after buying an additional 1,538,571 shares during the last quarter. Red Door Wealth Management LLC increased its stake in shares of Apple by 3.0% in the first quarter. Red Door Wealth Management LLC now owns 82,310 shares of the iPhone maker’s stock worth $10,089,000 after buying an additional 2,372 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its stake in shares of Apple by 5.4% in the first quarter. Stratos Wealth Advisors LLC now owns 134,781 shares of the iPhone maker’s stock worth $16,464,000 after buying an additional 6,921 shares during the last quarter. Institutional investors own 56.38% of the company’s stock.

AAPL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Apple from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Piper Sandler lifted their price objective on shares of Apple from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Credit Suisse Group set a $150.00 price objective on shares of Apple in a report on Monday. Monness Crespi & Hardt lifted their price objective on shares of Apple from $180.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Finally, New Street Research downgraded shares of Apple from a “neutral” rating to a “sell” rating and set a $90.00 price target for the company. in a report on Friday, May 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $160.88.

In related news, SVP Katherine L. Adams sold 17,000 shares of Apple stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $145.89, for a total value of $2,480,130.00. Following the completion of the transaction, the senior vice president now directly owns 324,164 shares of the company’s stock, valued at $47,292,285.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 2,386,440 shares of the business’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $148.58, for a total value of $354,577,255.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,418,317 shares of company stock valued at $359,229,278. Company insiders own 0.06% of the company’s stock.

AAPL opened at $148.12 on Wednesday. Apple Inc. has a fifty-two week low of $103.10 and a fifty-two week high of $157.26. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.06 and a quick ratio of 1.01. The firm’s fifty day moving average price is $148.32 and its two-hundred day moving average price is $135.13. The company has a market capitalization of $2.45 trillion, a P/E ratio of 28.99, a P/E/G ratio of 2.10 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.29. Apple had a net margin of 25.00% and a return on equity of 131.01%. The firm had revenue of $81.40 billion for the quarter, compared to the consensus estimate of $73.48 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 36.4% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 5.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Shareholders of record on Monday, August 9th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, August 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. Apple’s payout ratio is presently 26.83%.

Apple Company Profile

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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