Apple Inc. (NASDAQ:AAPL) Position Lessened by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPLFree Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,120 shares of the iPhone maker’s stock after selling 965 shares during the quarter. Apple comprises approximately 2.6% of Pinnacle Wealth Planning Services Inc.’s portfolio, making the stock its 5th biggest position. Pinnacle Wealth Planning Services Inc.’s holdings in Apple were worth $16,966,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Conservest Capital Advisors Inc. increased its position in Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares during the last quarter. Flagstone Financial Management grew its stake in shares of Apple by 0.9% during the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 56 shares during the period. High Pines Wealth Management LLC increased its position in shares of Apple by 0.7% during the 4th quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after purchasing an additional 58 shares during the last quarter. Asset Planning Corporation lifted its stake in shares of Apple by 1.0% in the 4th quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock worth $1,181,000 after purchasing an additional 59 shares during the period. Finally, Columbus Macro LLC boosted its holdings in shares of Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after buying an additional 59 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The disclosure for this sale can be found here. Insiders have sold 346,270 shares of company stock worth $60,880,196 over the last quarter. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AAPL. Loop Capital decreased their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Bank of America reaffirmed a “buy” rating and issued a $230.00 target price on shares of Apple in a report on Wednesday, May 29th. Maxim Group initiated coverage on Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 price target for the company. Sanford C. Bernstein raised Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price objective on the stock in a research note on Monday, April 29th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $196.00 price objective (up from $189.00) on shares of Apple in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.59.

Get Our Latest Stock Report on AAPL

Apple Stock Up 0.8 %

Shares of NASDAQ:AAPL opened at $195.87 on Thursday. The company has a market cap of $3.00 trillion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.36 and a beta of 1.25. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $178.94 and a 200 day moving average price of $183.37.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. As a group, equities research analysts predict that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its board has approved a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.51%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple’s payout ratio is presently 15.55%.

Apple Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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