Apple Inc. $AAPL Shares Sold by Peak Financial Management Inc.

Peak Financial Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 42.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,694 shares of the iPhone maker’s stock after selling 15,284 shares during the period. Apple accounts for approximately 1.2% of Peak Financial Management Inc.’s portfolio, making the stock its 24th largest position. Peak Financial Management Inc.’s holdings in Apple were worth $4,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC raised its holdings in shares of Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after buying an additional 205,656,808 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Apple in the first quarter valued at about $17,472,482,000. Northern Trust Corp raised its holdings in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Amundi lifted its position in Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after purchasing an additional 14,651,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $270.37 on Monday. The firm has a market capitalization of $4.01 trillion, a P/E ratio of 41.03, a P/E/G ratio of 2.62 and a beta of 1.09. The company’s fifty day moving average price is $248.34 and its two-hundred day moving average price is $222.34. 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 Inc. has a 12 month low of $169.21 and a 12 month high of $277.32.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the prior year, the business posted $1.64 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.92%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 259,121 shares of company stock valued at $65,358,981. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AAPL. Evercore ISI raised their target price on Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. The Goldman Sachs Group increased their target price on shares of Apple from $279.00 to $320.00 and gave the company a “buy” rating in a report on Friday. Finally, Wall Street Zen raised shares of Apple from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $276.39.

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.