Peak Financial Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 247.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,883 shares of the iPhone maker’s stock after buying an additional 12,020 shares during the quarter. Apple comprises approximately 2.2% of Peak Financial Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Peak Financial Advisors LLC’s holdings in Apple were worth $4,228,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. High Net Worth Advisory Group LLC boosted its position in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the last quarter. Amara Financial LLC. bought a new position in shares of Apple in the 3rd quarter worth about $288,000. Granite Investment Partners LLC lifted its stake in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the period. Truist Financial Corp boosted its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC grew its stake in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after purchasing an additional 2,565 shares during the period. Institutional investors own 67.73% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the topic of several recent analyst reports. DA Davidson set a $290.00 price target on Apple in a research note on Friday, January 31st. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Argus upgraded shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Wedbush reiterated an “outperform” rating and set a $325.00 price objective on shares of Apple in a report on Thursday, January 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $243.88.
Read Our Latest Analysis on Apple
Insider Activity at Apple
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.
Apple Stock Performance
Shares of AAPL opened at $240.36 on Thursday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock’s fifty day moving average price is $240.10 and its two-hundred day moving average price is $233.39. The firm has a market cap of $3.61 trillion, a PE ratio of 38.15, a PEG ratio of 2.44 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The firm 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. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.
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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