Pinion Investment Advisors LLC Has $2.87 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Pinion Investment Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,640 shares of the iPhone maker’s stock after selling 832 shares during the quarter. Apple accounts for about 1.4% of Pinion Investment Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Pinion Investment Advisors LLC’s holdings in Apple were worth $2,873,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bellwether Advisors LLC lifted its holdings in shares of Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after buying an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC bought a new position in shares of Apple in the 2nd quarter valued at approximately $876,000. WT Asset Management Ltd bought a new position in shares of Apple in the 2nd quarter valued at approximately $80,057,000. TD Asset Management Inc raised its stake in shares of Apple by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after acquiring an additional 1,557,848 shares in the last quarter. Finally, Councilmark Asset Management LLC bought a new position in Apple in the 1st quarter worth approximately $11,776,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $222.91 on Friday. The stock has a 50 day moving average price of $227.18 and a 200 day moving average price of $212.03. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.15. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 15.22%.

Analyst Ratings Changes

Several research analysts have commented on AAPL shares. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Raymond James lifted their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Moffett Nathanson initiated coverage on Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $236.23.

About Apple

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.