Oregon Pacific Wealth Management LLC Sells 79 Shares of Apple Inc. $AAPL

Oregon Pacific Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,831 shares of the iPhone maker’s stock after selling 79 shares during the quarter. Apple accounts for 1.1% of Oregon Pacific Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Oregon Pacific Wealth Management LLC’s holdings in Apple were worth $1,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yukon Wealth Management Inc. acquired a new stake in shares of Apple during the first quarter worth $20,983,000. Svenska Handelsbanken AB publ acquired a new stake in shares of Apple during the first quarter worth $27,258,000. Red Lighthouse Investment Management LLC raised its holdings in shares of Apple by 5.8% during the first quarter. Red Lighthouse Investment Management LLC now owns 93,531 shares of the iPhone maker’s stock worth $20,776,000 after acquiring an additional 5,086 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Apple by 3.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,146,030 shares of the iPhone maker’s stock worth $476,698,000 after acquiring an additional 66,935 shares during the period. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Apple by 7.1% during the first quarter. Clear Creek Financial Management LLC now owns 63,529 shares of the iPhone maker’s stock worth $14,112,000 after acquiring an additional 4,197 shares during the period. 67.73% of the stock is owned by institutional investors.

Apple Price Performance

AAPL stock opened at $231.59 on Monday. The company has a 50 day simple moving average of $209.69 and a 200 day simple moving average of $212.97. The stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 2.42 and a beta of 1.16. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the prior year, the company earned $1.40 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in 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 often an indication that the company’s board believes its stock is undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is 15.78%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Citigroup lifted their price target on shares of Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Wedbush reiterated an “outperform” rating and issued a $270.00 price target on shares of Apple in a research note on Thursday, August 7th. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $237.60.

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.