SilverOak Wealth Management LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

SilverOak Wealth Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,238 shares of the iPhone maker’s stock after purchasing an additional 308 shares during the period. Apple comprises 0.9% of SilverOak Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. SilverOak Wealth Management LLC’s holdings in Apple were worth $3,631,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AAPL. Capital International Investors increased its position in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. American Century Companies Inc. boosted its stake in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after acquiring an additional 1,065,759 shares during the period. Jennison Associates LLC lifted its stake in Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after buying an additional 485,873 shares during the last quarter. Swedbank AB boosted its stake in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after purchasing an additional 2,594,138 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 1.3 %

Shares of NASDAQ AAPL opened at $222.91 on Friday. The company’s 50 day simple moving average is $227.18 and its 200 day simple moving average is $212.03. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.15. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. Apple’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 6.6 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 11th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.22%.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. TD Cowen upped their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group raised their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Oppenheimer reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Citigroup raised their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $236.23.

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.