Peak Financial Management Inc. Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Peak Financial Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,660 shares of the iPhone maker’s stock after selling 4,585 shares during the quarter. Apple makes up 2.7% of Peak Financial Management Inc.’s investment portfolio, making the stock its 12th largest position. Peak Financial Management Inc.’s holdings in Apple were worth $9,241,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAPL. von Borstel & Associates Inc. purchased a new position in Apple in the 3rd quarter valued at approximately $997,000. Aspect Partners LLC boosted its holdings in shares of Apple by 3.6% in the third quarter. Aspect Partners LLC now owns 2,083 shares of the iPhone maker’s stock worth $485,000 after acquiring an additional 73 shares during the period. Zhang Financial LLC grew its position in shares of Apple by 0.9% in the third quarter. Zhang Financial LLC now owns 199,665 shares of the iPhone maker’s stock valued at $46,522,000 after purchasing an additional 1,701 shares in the last quarter. Nova R Wealth Inc. raised its stake in shares of Apple by 1.8% during the 3rd quarter. Nova R Wealth Inc. now owns 34,104 shares of the iPhone maker’s stock valued at $7,946,000 after purchasing an additional 595 shares during the period. Finally, Clayton Financial Group LLC lifted its holdings in Apple by 12.7% during the 3rd quarter. Clayton Financial Group LLC now owns 36,862 shares of the iPhone maker’s stock worth $8,589,000 after purchasing an additional 4,168 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated 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 directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Maxim Group lifted their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Loop Capital lowered their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

Apple Stock Up 0.0 %

Shares of NASDAQ AAPL opened at $243.04 on Friday. The firm’s fifty day moving average is $230.23 and its 200 day moving average is $221.05. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $244.54. 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 company has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.97, a PEG ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 EPS. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

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.