Spring Capital Management LLC Purchases 3,840 Shares of Apple Inc. (NASDAQ:AAPL)

Spring Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,265 shares of the iPhone maker’s stock after purchasing an additional 3,840 shares during the period. Apple accounts for approximately 10.5% of Spring Capital Management LLC’s portfolio, making the stock its largest position. Spring Capital Management LLC’s holdings in Apple were worth $12,659,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AAPL. Capital Advantage Inc. lifted its holdings in Apple by 1.3% during the 2nd quarter. Capital Advantage Inc. now owns 57,051 shares of the iPhone maker’s stock worth $12,997,000 after buying an additional 722 shares during the last quarter. LGT Capital Partners LTD. raised its position in shares of Apple by 10.2% during the 2nd quarter. LGT Capital Partners LTD. now owns 578,470 shares of the iPhone maker’s stock worth $121,837,000 after acquiring an additional 53,666 shares in the last quarter. Cambridge Advisors Inc. lifted its stake in Apple by 2.9% during the second quarter. Cambridge Advisors Inc. now owns 39,677 shares of the iPhone maker’s stock worth $8,357,000 after purchasing an additional 1,129 shares during the last quarter. CHICAGO TRUST Co NA boosted its holdings in Apple by 2.0% in the second quarter. CHICAGO TRUST Co NA now owns 129,549 shares of the iPhone maker’s stock valued at $27,286,000 after purchasing an additional 2,510 shares in the last quarter. Finally, CCM Investment Advisers LLC increased its stake in Apple by 0.6% in the second quarter. CCM Investment Advisers LLC now owns 130,610 shares of the iPhone maker’s stock valued at $27,509,000 after purchasing an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $229.00 on Monday. The firm has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 35.61, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. 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 50 day simple moving average is $221.88 and its 200-day simple moving average is $195.93. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the business earned $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. UBS Group restated a “neutral” rating and issued a $190.00 price objective on shares of Apple in a research note on Monday, July 1st. JPMorgan Chase & Co. lifted their target price on Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Citigroup reissued a “buy” rating and issued a $255.00 target price on shares of Apple in a report on Tuesday, August 27th. Finally, Barclays dropped their price target on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $237.30.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company’s stock.

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.