Apple Inc. (NASDAQ:AAPL) Stock Holdings Trimmed by Twin Peaks Wealth Advisors LLC

Twin Peaks Wealth Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,491 shares of the iPhone maker’s stock after selling 2,072 shares during the quarter. Apple accounts for about 5.8% of Twin Peaks Wealth Advisors LLC’s portfolio, making the stock its largest position. Twin Peaks Wealth Advisors LLC’s holdings in Apple were worth $12,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tallon Kerry Patrick acquired a new position in shares of Apple in the 4th quarter valued at about $1,877,000. First National Bank of Hutchinson lifted its holdings in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the period. Capital & Planning LLC lifted its holdings in shares of Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock valued at $6,836,000 after buying an additional 2,647 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares during the period. Finally, Brighton Jones LLC lifted its holdings in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction 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 completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 0.5%

Shares of Apple stock opened at $210.16 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The stock has a 50 day moving average of $204.07 and a 200 day moving average of $216.41. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market capitalization of $3.14 trillion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.34 and a beta of 1.20.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly 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 return on equity of 167.24% and a net margin of 24.30%. The company had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has authorized a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio is 16.20%.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, May 21st. Bank of America reaffirmed a “buy” rating and issued a $235.00 price target on shares of Apple in a report on Tuesday, June 10th. Scotiabank cut Apple to a “market perform” rating in a report on Friday, May 2nd. DA Davidson upped their price target on Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Apple in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.27.

Get Our Latest Stock Analysis on Apple

About Apple

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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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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