Silverlake Wealth Management LLC Has $12.69 Million Position in Apple Inc. (NASDAQ:AAPL)
Silverlake Wealth Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 50,685 shares of the iPhone maker’s stock after buying an additional 742 shares during the period. Apple comprises approximately 4.9% of Silverlake Wealth Management LLC’s holdings, making the stock its 2nd biggest position. Silverlake Wealth Management LLC’s holdings in Apple were worth $12,692,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Drystone LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $25,000. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Apple in the 3rd quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC purchased a new position in shares of Apple during the 3rd quarter worth about $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Apple Price Performance
Shares of NASDAQ AAPL opened at $188.38 on Friday. The firm has a fifty day moving average of $229.45 and a 200 day moving average of $232.96. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The firm has a market cap of $2.83 trillion, a PE ratio of 29.90, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. Apple’s dividend payout ratio (DPR) is presently 15.87%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Citigroup increased their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Wedbush reissued an “outperform” rating and issued a $325.00 price objective on shares of Apple in a research note on Friday, March 14th. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a report on Wednesday, February 19th. UBS Group raised their price objective on Apple to $236.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Finally, KeyCorp reissued an “underweight” rating and set a $200.00 target price on shares of Apple in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $245.26.
View Our Latest Report on Apple
Insider Buying and Selling at Apple
In related news, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the sale, the chief operating officer now owns 390,059 shares in the company, valued at $87,377,116.59. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock worth $40,818,720 in the last three months. 0.06% of the stock is owned by corporate 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.
See Also
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.