Clear Creek Financial Management LLC Has $14.11 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Clear Creek Financial Management LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 7.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 63,529 shares of the iPhone maker’s stock after buying an additional 4,197 shares during the period. Apple comprises about 1.5% of Clear Creek Financial Management LLC’s holdings, making the stock its 9th biggest position. Clear Creek Financial Management LLC’s holdings in Apple were worth $14,112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter worth $63,000. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC purchased a new stake in shares of Apple during the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Apple during the fourth quarter worth $96,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.5%

Shares of NASDAQ:AAPL opened at $231.59 on Friday. The stock’s 50-day moving average price is $209.69 and its 200-day moving average price is $213.14. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock has a market capitalization of $3.44 trillion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the firm earned $1.40 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Insider Activity

In related news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AAPL. Loop Capital dropped their target price on Apple from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Barclays increased their price objective on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research report on Wednesday, May 21st. Wedbush reiterated an “outperform” rating and issued a $270.00 price objective on shares of Apple in a research report on Thursday, August 7th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.60.

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.