Sagespring Wealth Partners LLC Has $44.16 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Sagespring Wealth Partners LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 198,810 shares of the iPhone maker’s stock after purchasing an additional 35,729 shares during the quarter. Apple comprises 0.4% of Sagespring Wealth Partners LLC’s portfolio, making the stock its 26th biggest holding. Sagespring Wealth Partners LLC’s holdings in Apple were worth $44,162,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Burkett Financial Services LLC boosted its stake in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 93 shares during the period. OneAscent Wealth Management LLC boosted its position in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after acquiring an additional 409 shares in the last quarter. TruWealth Advisors LLC lifted its stake in Apple by 2.8% in the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after purchasing an additional 5,120 shares during the last quarter. Allstate Corp raised its stake in shares of Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Finally, Vinva Investment Management Ltd raised its stake in Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock worth $192,700,000 after buying an additional 83,997 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider directly owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AAPL shares. TD Cowen lowered their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Apple from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Loop Capital reduced their target price on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Tigress Financial upped their price objective on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 price objective on shares of Apple in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.11.

Apple Stock Up 0.6%

NASDAQ:AAPL opened at $212.48 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.17 trillion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock’s 50 day moving average price is $204.57 and its two-hundred day moving average price is $215.41.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has approved a stock buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.49%. This is an increase from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio (DPR) is currently 16.20%.

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.