Apple Inc. $AAPL Shares Sold by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,655 shares of the iPhone maker’s stock after selling 1,255 shares during the quarter. Apple accounts for approximately 2.0% of Silver Oak Securities Incorporated’s investment portfolio, making the stock its 3rd largest holding. Silver Oak Securities Incorporated’s holdings in Apple were worth $21,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Calamos Wealth Management LLC lifted its holdings in shares of Apple by 8.4% during the first quarter. Calamos Wealth Management LLC now owns 663,055 shares of the iPhone maker’s stock worth $147,284,000 after purchasing an additional 51,527 shares during the period. Cohen Investment Advisors LLC lifted its holdings in shares of Apple by 10.7% during the first quarter. Cohen Investment Advisors LLC now owns 44,757 shares of the iPhone maker’s stock worth $9,942,000 after purchasing an additional 4,324 shares during the period. Sitrin Capital Management LLC lifted its holdings in shares of Apple by 0.4% during the first quarter. Sitrin Capital Management LLC now owns 50,213 shares of the iPhone maker’s stock worth $11,154,000 after purchasing an additional 218 shares during the period. Moody Aldrich Partners LLC acquired a new stake in shares of Apple during the first quarter worth about $408,000. Finally, Goelzer Investment Management Inc. lifted its holdings in shares of Apple by 0.7% during the first quarter. Goelzer Investment Management Inc. now owns 154,506 shares of the iPhone maker’s stock worth $34,320,000 after purchasing an additional 1,044 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 2.0%

Apple stock opened at $226.01 on Thursday. The stock has a market capitalization of $3.35 trillion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The business has a 50 day simple moving average of $211.38 and a 200-day simple moving average of $213.15. 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 posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.40 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple’s payout ratio is currently 15.78%.

Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. TD Cowen decreased their target price on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Citigroup lifted their price target on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 1st. UBS Group lifted their price target on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Finally, Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $237.60.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred on 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 sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

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.