Apple Inc. $AAPL Stock Position Boosted by Clear Creek Financial Management LLC

Key Points

• Clear Creek Financial Management LLC increased its holdings in Apple Inc. by 7.1%, now owning 63,529 shares valued at approximately $14.1 million.
• Apple announced a quarterly dividend of $0.26 per share, resulting in an annualized yield of 0.4%, with a payout ratio of 15.78%.
• Analysts generally maintain a consensus rating of "Moderate Buy" for Apple, with price targets ranging from $215 to $255 per share.

Clear Creek Financial Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,529 shares of the iPhone maker's stock after purchasing an additional 4,197 shares during the quarter. Apple accounts for 1.5% of Clear Creek Financial Management LLC's portfolio, making the stock its 9th largest position. Clear Creek Financial Management LLC's holdings in Apple were worth $14,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Conquis Financial LLC purchased a new position in shares of Apple during the 4th quarter valued at $63,000. LSV Asset Management bought a new stake in Apple in the 4th quarter valued at $65,000. Pillar Financial Advisors LLC bought a new stake in Apple in the 4th quarter valued at $82,000. Compass Planning Associates Inc bought a new stake in Apple in the 4th quarter valued at $96,000. Finally, Sellwood Investment Partners LLC bought a new stake in Apple in the 4th quarter valued at $147,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.5%

Shares of NASDAQ AAPL traded down $1.1370 during trading hours on Tuesday, hitting $229.7530. 23,261,262 shares of the stock were exchanged, compared to its average volume of 57,655,609. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.41 trillion, a PE ratio of 34.86, a PEG ratio of 2.42 and a beta of 1.16. The firm has a fifty day moving average price of $210.28 and a 200-day moving average price of $212.94. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

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

Apple Announces Dividend

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

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. Scotiabank downgraded shares of Apple to a "market perform" rating in a report on Friday, May 2nd. DA Davidson reiterated a "buy" rating and issued a $250.00 price target on shares of Apple in a report on Friday, August 1st. Morgan Stanley boosted their target price on shares of Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Loop Capital reduced their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $237.60.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

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.