Silver Oak Wealth Advisors Services LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,302 shares of the iPhone maker's stock, valued at approximately $1,578,000. Apple makes up about 1.4% of Silver Oak Wealth Advisors Services LLC's portfolio, making the stock its 13th largest holding.
A number of other hedge funds have also added to or reduced their stakes in the business. OneAscent Wealth Management LLC raised its holdings in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after acquiring an additional 409 shares during the period. Allstate Corp boosted its position in Apple by 3,368.2% in the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after buying an additional 438,471 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in shares of Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock worth $192,700,000 after purchasing an additional 83,997 shares during the period. Tradewinds Capital Management LLC lifted its holdings in shares of Apple by 9.2% during the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after purchasing an additional 1,779 shares during the period. Finally, Berkshire Bank raised its stake in Apple by 2.7% during the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock worth $22,433,000 after buying an additional 2,360 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Analyst Upgrades and Downgrades
AAPL has been the topic of several recent analyst reports. UBS Group restated a "buy" rating on shares of Apple in a report on Sunday, June 1st. Rosenblatt Securities lowered shares of Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price on the stock. in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Apple from $270.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Tuesday, June 10th. Finally, Barclays decreased their price target on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $234.86.
Read Our Latest Stock Analysis on AAPL
Insider Activity at Apple
In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 over the last 90 days. 0.06% of the stock is owned by company insiders.
Apple Price Performance
Shares of NASDAQ AAPL traded down $1.20 during mid-day trading on Tuesday, reaching $200.30. 53,951,325 shares of the company were exchanged, compared to its average volume of 53,512,318. The stock has a market capitalization of $2.99 trillion, a PE ratio of 31.20, a PEG ratio of 2.25 and a beta of 1.22. The company's 50 day moving average price is $202.33 and its 200 day moving average price is $221.12. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.
Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same quarter last year, the company earned $1.53 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is currently 16.20%.
Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.
About Apple
(
Free Report)
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.
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