Elk River Wealth Management LLC Has $26.68 Million Stake in Apple Inc. (NASDAQ:AAPL)

Elk River Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,529 shares of the iPhone maker’s stock after selling 435 shares during the quarter. Apple accounts for approximately 4.8% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 5th biggest position. Elk River Wealth Management LLC’s holdings in Apple were worth $26,677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp increased its holdings in shares of Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares in the last quarter. FMR LLC grew its position in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after acquiring an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC increased its holdings in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Apple by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker’s stock valued at $21,335,435,000 after purchasing an additional 1,742,087 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the transaction, the senior vice president now directly owns 179,158 shares of the company’s stock, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the sale, the chief operating officer now owns 390,059 shares of the company’s stock, valued at approximately $87,377,116.59. The trade was a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,021 shares of company stock valued at $41,760,140 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AAPL. Tigress Financial upped their price objective on Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. Monness Crespi & Hardt upped their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price target on shares of Apple in a report on Monday, April 14th. UBS Group decreased their price objective on Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Evercore ISI lifted their target price on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $233.88.

Apple Stock Performance

Shares of Apple stock opened at $209.28 on Friday. The company has a market cap of $3.14 trillion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 52 week low of $169.11 and a 52 week high of $260.10. The business has a 50 day moving average price of $215.71 and a 200-day moving average price of $229.31.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. Apple’s payout ratio is presently 15.87%.

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.