Apple Inc. (NASDAQ:AAPL) is SkyOak Wealth LLC’s 2nd Largest Position

SkyOak Wealth LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,756 shares of the iPhone maker’s stock after selling 2,353 shares during the quarter. Apple comprises about 4.6% of SkyOak Wealth LLC’s holdings, making the stock its 2nd largest position. SkyOak Wealth LLC’s holdings in Apple were worth $19,747,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bellwether Advisors LLC grew its position in Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after buying an additional 19,352 shares in the last quarter. Gentry Private Wealth LLC purchased a new position in Apple during the second quarter worth about $876,000. WT Asset Management Ltd purchased a new position in Apple during the second quarter worth about $80,057,000. TD Asset Management Inc grew its position in Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after buying an additional 1,557,848 shares in the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in Apple during the first quarter worth about $11,776,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Tigress Financial lifted their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Citigroup boosted their target price on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Stock Down 0.3 %

AAPL stock opened at $222.72 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.39 trillion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. The business has a 50 day moving average of $226.91 and a 200 day moving average of $213.51.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. On average, research analysts forecast that Apple Inc. will post 7.45 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction 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 transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 417,924 shares of company stock valued at $94,142,399. Corporate insiders own 0.06% of the company’s stock.

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.