Apple Inc. (NASDAQ:AAPL) Shares Sold by Peak Asset Management LLC

Peak Asset Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,972 shares of the iPhone maker's stock after selling 6,359 shares during the period. Apple makes up about 5.3% of Peak Asset Management LLC's investment portfolio, making the stock its largest position. Peak Asset Management LLC's holdings in Apple were worth $28,187,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in Apple during the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC bought a new stake in Apple in the third quarter worth about $110,000. Finally, Cordant Inc. boosted its position in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock valued at $158,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Down 3.2 %

Shares of AAPL stock opened at $222.64 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock has a 50 day moving average of $241.12 and a 200 day moving average of $230.85. The stock has a market cap of $3.35 trillion, a P/E ratio of 36.62, a P/E/G ratio of 2.25 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. Apple's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.45%. Apple's dividend payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Bank of America reiterated a "buy" rating and set a $256.00 target price on shares of Apple in a research report on Friday, January 3rd. Piper Sandler reiterated a "neutral" rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Oppenheimer restated a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target on shares of Apple from $265.00 to $260.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Morgan Stanley restated an "overweight" rating and set a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Apple currently has an average rating of "Moderate Buy" and an average price target of $238.02.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 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.