Meadow Creek Wealth Advisors LLC Sells 9,291 Shares of Apple Inc. (NASDAQ:AAPL)

Meadow Creek Wealth Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 32.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,077 shares of the iPhone maker’s stock after selling 9,291 shares during the period. Apple comprises 3.8% of Meadow Creek Wealth Advisors LLC’s holdings, making the stock its 5th largest holding. Meadow Creek Wealth Advisors LLC’s holdings in Apple were worth $4,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ACT Advisors LLC. increased its position in Apple by 3.3% in the 4th quarter. ACT Advisors LLC. now owns 6,056 shares of the iPhone maker’s stock valued at $1,166,000 after acquiring an additional 193 shares during the period. Hamilton Point Investment Advisors LLC increased its stake in shares of Apple by 1.3% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 102,040 shares of the iPhone maker’s stock worth $19,646,000 after purchasing an additional 1,353 shares in the last quarter. Grant GrossMendelsohn LLC increased its stake in shares of Apple by 12.6% in the fourth quarter. Grant GrossMendelsohn LLC now owns 38,914 shares of the iPhone maker’s stock worth $7,488,000 after purchasing an additional 4,345 shares in the last quarter. Prosperitas Financial LLC grew its stake in Apple by 0.7% during the fourth quarter. Prosperitas Financial LLC now owns 51,966 shares of the iPhone maker’s stock valued at $10,005,000 after acquiring an additional 368 shares in the last quarter. Finally, Peirce Capital Management LLC bought a new stake in Apple during the fourth quarter valued at approximately $408,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Trading Up 1.2 %

Shares of NASDAQ AAPL opened at $222.66 on Thursday. The company’s fifty day moving average is $223.19 and its 200-day moving average is $198.06. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 2.60 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the firm posted $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AAPL shares. Tigress Financial upped their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Tuesday. Finally, Cfra increased their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.62.

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.