Apple Inc. (NASDAQ:AAPL) is Meadow Creek Wealth Advisors LLC’s 5th Largest Position

Meadow Creek Wealth Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,289 shares of the iPhone maker’s stock after buying an additional 1,212 shares during the period. Apple makes up approximately 3.7% 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 $4,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB bought a new stake in Apple during the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC raised its stake in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Apple during the second quarter valued at about $834,368,000. Ameriprise Financial Inc. boosted its holdings in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Finally, Tairen Capital Ltd purchased a new position in Apple during the 2nd quarter valued at about $588,952,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Bank of America upped their price objective on shares of Apple to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a research note on Friday, December 13th. Finally, Maxim Group increased their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock worth $117,004,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $249.79 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.78 trillion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The business has a 50-day simple moving average of $234.43 and a two-hundred day simple moving average of $225.06. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $254.28.

Apple (NASDAQ:AAPL) last released 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 $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s payout ratio is 16.45%.

Apple 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.