Silver Oak Wealth Advisors Services LLC Has $1.39 Million Position in Apple Inc. $AAPL

Silver Oak Wealth Advisors Services LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,249 shares of the iPhone maker’s stock after selling 53 shares during the period. Apple accounts for about 1.2% of Silver Oak Wealth Advisors Services LLC’s portfolio, making the stock its 14th largest position. Silver Oak Wealth Advisors Services LLC’s holdings in Apple were worth $1,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Latitude Advisors LLC lifted its holdings in shares of Apple by 3.6% in the 1st quarter. Latitude Advisors LLC now owns 11,371 shares of the iPhone maker’s stock worth $2,526,000 after purchasing an additional 398 shares in the last quarter. Arlington Trust Co LLC lifted its holdings in shares of Apple by 1.0% in the 1st quarter. Arlington Trust Co LLC now owns 66,701 shares of the iPhone maker’s stock worth $14,816,000 after purchasing an additional 657 shares in the last quarter. Vishria Bird Financial Group LLC lifted its holdings in shares of Apple by 0.3% in the 1st quarter. Vishria Bird Financial Group LLC now owns 105,376 shares of the iPhone maker’s stock worth $23,407,000 after purchasing an additional 300 shares in the last quarter. Alley Investment Management Company LLC lifted its holdings in shares of Apple by 0.4% in the 1st quarter. Alley Investment Management Company LLC now owns 135,005 shares of the iPhone maker’s stock worth $29,989,000 after purchasing an additional 544 shares in the last quarter. Finally, Instrumental Wealth LLC lifted its holdings in shares of Apple by 11.8% in the 1st quarter. Instrumental Wealth LLC now owns 8,411 shares of the iPhone maker’s stock worth $1,760,000 after purchasing an additional 886 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade 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 hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America increased their target price on Apple from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Barclays raised their price objective on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective on the stock. TD Cowen dropped their price objective on Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $237.60.

Apple Trading Down 0.1%

Shares of AAPL opened at $230.56 on Wednesday. The business has a 50-day moving average of $210.83 and a 200 day moving average of $213.06. 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 cap of $3.42 trillion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.5%. Apple’s dividend payout ratio (DPR) is 15.78%.

Apple 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.