Peak Financial Advisors LLC Purchases 840 Shares of Apple Inc. (NASDAQ:AAPL)
Peak Financial Advisors LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,723 shares of the iPhone maker’s stock after acquiring an additional 840 shares during the quarter. Apple makes up about 2.0% of Peak Financial Advisors LLC’s holdings, making the stock its 10th largest holding. Peak Financial Advisors LLC’s holdings in Apple were worth $3,937,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Advanced Portfolio Management LLC raised its position in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after purchasing an additional 47 shares in the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after buying an additional 48 shares during the period. Family Capital Management Inc. raised its holdings in Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Apple by 0.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after acquiring an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC lifted its stake in Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Analyst Upgrades and Downgrades
AAPL has been the topic of a number of recent analyst reports. Barclays set a $173.00 price objective on shares of Apple and gave the company an “underweight” rating in a research report on Tuesday, June 24th. Evercore ISI raised their price target on Apple to $250.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Tuesday, June 10th. TD Cowen dropped their price objective on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Wedbush reissued an “outperform” rating and set a $270.00 target price on shares of Apple in a research report on Tuesday, June 10th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.39.
View Our Latest Report on AAPL
Insider Buying and Selling at Apple
In other Apple news, COO Jeffrey E. Williams sold 35,493 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer owned 390,059 shares in the company, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company’s stock.
Apple Price Performance
Shares of AAPL opened at $205.17 on Tuesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. The firm has a 50-day simple moving average of $202.85 and a 200-day simple moving average of $219.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. During the same period in the prior year, the business earned $1.53 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is 16.20%.
Apple declared that its board has initiated a stock repurchase program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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.
Read More
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.