Apple Inc. $AAPL Stock Holdings Trimmed by Peak Financial Advisors LLC

Peak Financial Advisors LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 11.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,777 shares of the iPhone maker’s stock after selling 1,946 shares during the period. Apple comprises 1.7% of Peak Financial Advisors LLC’s portfolio, making the stock its 14th largest position. Peak Financial Advisors LLC’s holdings in Apple were worth $3,237,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Life Planning Partners Inc acquired a new position in Apple during the 4th quarter valued at approximately $47,000. Elite Financial Inc. bought a new position in Apple during the 1st quarter worth $58,000. Conquis Financial LLC acquired a new stake in Apple in the fourth quarter worth $63,000. Finally, LSV Asset Management acquired a new stake in Apple in the fourth quarter worth $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Loop Capital lowered their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 target price on shares of Apple in a research note on Tuesday, August 26th. HSBC set a $220.00 target price on shares of Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. increased their price objective on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.93.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 34,821 shares of the 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 directly owned 136,687 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock opened at $237.88 on Friday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm’s 50 day simple moving average is $223.66 and its 200-day simple moving average is $212.35. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.53 trillion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 2.48 and a beta of 1.11.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

About Apple

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.