Peak Financial Advisors LLC Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Peak Financial Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 75.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,868 shares of the iPhone maker’s stock after selling 15,032 shares during the quarter. Peak Financial Advisors LLC’s holdings in Apple were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AAPL. Foresight Capital Management Advisors Inc. boosted its holdings in Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the last quarter. Hoese & Co LLP raised its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Stableford Capital II LLC lifted its holdings in shares of Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after buying an additional 59 shares during the period. Whitcomb & Hess Inc. grew its holdings in Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after acquiring an additional 59 shares during the period. Finally, Kwmg LLC raised its position in Apple by 0.6% during the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Trading Down 2.7 %

Shares of AAPL stock opened at $222.77 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company’s 50-day moving average price is $222.57 and its 200-day moving average price is $196.53. The stock has a market cap of $3.42 trillion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.69 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 EPS. As a group, equities analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 over the last quarter. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAPL. StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer raised their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. UBS Group reiterated a “neutral” rating and issued a $190.00 price objective on shares of Apple in a research report on Monday, July 1st. JPMorgan Chase & Co. raised their target price on Apple from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $237.30.

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.