Aspire Wealth Management Corp Decreases Stake in Apple Inc. (NASDAQ:AAPL)

Aspire Wealth Management Corp reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,899 shares of the iPhone maker’s stock after selling 383 shares during the period. Apple makes up 2.6% of Aspire Wealth Management Corp’s holdings, making the stock its 15th biggest position. Aspire Wealth Management Corp’s holdings in Apple were worth $3,831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Atlantic Private Wealth LLC acquired a new stake in Apple during the first quarter worth about $30,000. Wyrmwood Management LLC increased its position in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Gilfoyle & Co LLC increased its position in Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares during the last quarter. Summit Wealth Group LLC increased its position in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares during the last quarter. Finally, HBC Financial Services PLLC increased its position in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $167.04 on Friday. The firm’s fifty day simple moving average is $175.15 and its 200-day simple moving average is $182.10. The stock has a market capitalization of $2.58 trillion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.04 and a beta of 1.27. Apple Inc. has a 12 month low of $162.80 and a 12 month high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The business had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 EPS. As a group, equities analysts forecast that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s payout ratio is 14.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. Maxim Group began coverage on shares of Apple in a research report on Wednesday. They set a “hold” rating and a $178.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Loop Capital dropped their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a report on Monday, April 1st. Citigroup restated a “buy” rating and issued a $225.00 price objective on shares of Apple in a report on Friday, February 16th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $189.00 price objective on shares of Apple in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.34.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock valued at $63,653,887 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

About Apple

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.