Creekmur Asset Management LLC Has $7.06 Million Holdings in Apple Inc. $AAPL

Key Points

• Creekmur Asset Management LLC increased its stake in Apple Inc. by 25% in Q1, acquiring an additional 6,362 shares, bringing its total holdings to 31,789 shares valued at approximately $7.06 million.
• Apple's recent quarterly earnings beat analysts' expectations, reporting $1.57 EPS and $94.04 billion in revenue, marking a 9.6% year-over-year increase.
• The company announced a quarterly dividend of $0.26 per share, reflecting an annualized dividend yield of 0.4% and a payout ratio of 15.78%.

Creekmur Asset Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,789 shares of the iPhone maker's stock after purchasing an additional 6,362 shares during the period. Apple accounts for about 1.5% of Creekmur Asset Management LLC's investment portfolio, making the stock its 13th largest holding. Creekmur Asset Management LLC's holdings in Apple were worth $7,061,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter worth approximately $47,000. Elite Financial Inc. acquired a new position in Apple in the first quarter worth approximately $58,000. Conquis Financial LLC acquired a new position in Apple in the fourth quarter worth approximately $63,000. LSV Asset Management acquired a new position in Apple in the fourth quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in Apple in the fourth quarter worth approximately $82,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Down 0.2%

Shares of Apple stock traded down $0.42 on Monday, hitting $232.14. 39,382,353 shares of the company traded hands, compared to its average volume of 55,684,536. The company has a 50-day moving average price of $215.79 and a 200 day moving average price of $212.71. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market cap of $3.45 trillion, a PE ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating 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 business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the previous year, the company posted $1.40 EPS. Apple's revenue was up 9.6% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. DA Davidson restated a "buy" rating and issued a $250.00 price target on shares of Apple in a research report on Friday, August 1st. Monness Crespi & Hardt lifted their price objective on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Rosenblatt Securities reiterated a "neutral" rating and set a $217.00 price objective on shares of Apple in a research report on Tuesday, July 29th. Loop Capital lowered their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. Finally, Bank of America reiterated a "buy" rating and set a $250.00 price objective on shares of Apple in a research report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

Apple 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.