39,074 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Creekside Partners

Creekside Partners acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,074 shares of the iPhone maker’s stock, valued at approximately $8,230,000. Apple accounts for 4.6% of Creekside Partners’ portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its stake in Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after buying an additional 42,282 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its stake in Apple by 0.9% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 92,150 shares of the iPhone maker’s stock valued at $15,601,000 after buying an additional 781 shares during the last quarter. Paragon Advisors LLC increased its stake in Apple by 35.8% in the 1st quarter. Paragon Advisors LLC now owns 18,183 shares of the iPhone maker’s stock valued at $3,118,000 after buying an additional 4,793 shares during the last quarter. Castle Wealth Management LLC increased its stake in Apple by 0.8% in the 1st quarter. Castle Wealth Management LLC now owns 23,998 shares of the iPhone maker’s stock valued at $4,115,000 after buying an additional 191 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its stake in Apple by 28.9% in the 1st quarter. Silicon Valley Capital Partners now owns 229,441 shares of the iPhone maker’s stock valued at $39,345,000 after buying an additional 51,428 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,040 shares of company stock worth $91,062,512. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of Apple stock opened at $225.00 on Monday. 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 company has a 50-day simple moving average of $227.04 and a two-hundred day simple moving average of $216.61. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 EPS. Analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AAPL shares. Citigroup lifted their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Melius Research reissued a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird lifted their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Two investment 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.51.

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.