Peak Financial Advisors LLC Has $3.41 Million Stake in Apple Inc. (NASDAQ:AAPL)

Peak Financial Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,900 shares of the iPhone maker’s stock after acquiring an additional 2,301 shares during the period. Apple comprises about 2.1% of Peak Financial Advisors LLC’s portfolio, making the stock its 11th largest position. Peak Financial Advisors LLC’s holdings in Apple were worth $3,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. acquired a new stake in Apple in the 4th quarter valued at $1,713,000. Raleigh Capital Management Inc. increased its stake in Apple by 11.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after buying an additional 1,643 shares during the last quarter. Headinvest LLC increased its stake in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after buying an additional 872 shares during the last quarter. GLOBALT Investments LLC GA acquired a new stake in Apple in the 4th quarter valued at $38,406,000. Finally, Barden Capital Management Inc. grew its position in shares of Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after acquiring an additional 18,615 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AAPL shares. UBS Group reissued a “neutral” rating and issued a $190.00 price objective on shares of Apple in a research report on Tuesday, June 11th. Maxim Group lifted their target price on shares of Apple from $178.00 to $195.00 and gave the stock a “hold” rating in a report on Tuesday. Evercore ISI lifted their target price on shares of Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday. Oppenheimer lifted their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wedbush boosted their price objective on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $215.71.

Apple Trading Down 1.6 %

NASDAQ:AAPL opened at $210.62 on Friday. The firm’s fifty day moving average is $192.13 and its 200-day moving average is $185.46. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $220.20. The firm has a market cap of $3.23 trillion, a P/E ratio of 32.76, a P/E/G ratio of 2.59 and a beta of 1.25.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 EPS. Equities analysts expect that Apple Inc. will post 6.59 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s dividend payout ratio is currently 15.55%.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock valued at $60,880,196 over the last ninety days. 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.