94,464 Shares in Apple Inc. $AAPL Purchased by Yukon Wealth Management Inc.

Yukon Wealth Management Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 94,464 shares of the iPhone maker's stock, valued at approximately $20,983,000. Apple accounts for 8.7% of Yukon Wealth Management Inc.'s portfolio, making the stock its 2nd biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Svenska Handelsbanken AB publ purchased a new position in shares of Apple in the 1st quarter valued at $27,258,000. Red Lighthouse Investment Management LLC grew its stake in Apple by 5.8% during the 1st quarter. Red Lighthouse Investment Management LLC now owns 93,531 shares of the iPhone maker's stock worth $20,776,000 after buying an additional 5,086 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Apple by 3.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,146,030 shares of the iPhone maker's stock worth $476,698,000 after buying an additional 66,935 shares during the last quarter. Clear Creek Financial Management LLC grew its stake in Apple by 7.1% during the 1st quarter. Clear Creek Financial Management LLC now owns 63,529 shares of the iPhone maker's stock worth $14,112,000 after buying an additional 4,197 shares during the last quarter. Finally, Hapanowicz & Associates Financial Services Inc grew its stake in Apple by 18.8% during the 1st quarter. Hapanowicz & Associates Financial Services Inc now owns 3,542 shares of the iPhone maker's stock worth $787,000 after buying an additional 560 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on AAPL shares. Loop Capital dropped their target price on Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 target price on the stock. Bank of America boosted their target price on Apple from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Morgan Stanley boosted their target price on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Wedbush restated an "outperform" rating and set a $270.00 target price on shares of Apple in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $237.60.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

AAPL traded down $4.2250 on Wednesday, reaching $226.3350. 21,412,486 shares of the stock were exchanged, compared to its average volume of 57,531,371. The company's 50-day moving average price is $210.83 and its 200 day moving average price is $213.06. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.36 trillion, a PE ratio of 34.35, a PEG ratio of 2.42 and a beta of 1.16.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is 15.78%.

Apple declared that its board has authorized a share repurchase program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

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.