Apple Inc. (NASDAQ:AAPL) Holdings Lowered by Pioneer Trust Bank N A OR

Pioneer Trust Bank N A OR trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,466 shares of the iPhone maker’s stock after selling 2,194 shares during the period. Apple makes up 7.5% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its largest holding. Pioneer Trust Bank N A OR’s holdings in Apple were worth $29,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealth Advisors of Tampa Bay LLC boosted its stake in shares of Apple by 0.4% during the fourth quarter. Wealth Advisors of Tampa Bay LLC now owns 45,030 shares of the iPhone maker’s stock worth $11,276,000 after buying an additional 195 shares during the period. Orion Investment Co increased its position in Apple by 3.6% in the 4th quarter. Orion Investment Co now owns 14,293 shares of the iPhone maker’s stock valued at $3,579,000 after acquiring an additional 500 shares during the period. Leeward Financial Partners LLC raised its stake in Apple by 1.1% during the 4th quarter. Leeward Financial Partners LLC now owns 45,649 shares of the iPhone maker’s stock valued at $11,431,000 after acquiring an additional 510 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA lifted its position in Apple by 1.1% during the 4th quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 8,843 shares of the iPhone maker’s stock worth $2,214,000 after acquiring an additional 95 shares during the period. Finally, Broderick Brian C lifted its position in Apple by 1.9% during the 4th quarter. Broderick Brian C now owns 119,441 shares of the iPhone maker’s stock worth $29,910,000 after acquiring an additional 2,170 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. UBS Group restated a “buy” rating on shares of Apple in a research report on Sunday, June 1st. Evercore ISI raised their target price on shares of Apple to $250.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Tuesday. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $170.62 price objective (up previously from $167.88) on shares of Apple in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 35,493 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total value of $7,950,786.93. Following the completion of the transaction, the chief operating officer now owns 390,059 shares of the company’s stock, valued at $87,377,116.59. The trade was a 8.34% 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 4,486 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,507 shares of company stock worth $42,694,080. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $199.20 on Friday. The stock’s 50 day moving average price is $201.28 and its 200 day moving average price is $223.37. The firm has a market cap of $2.98 trillion, a P/E ratio of 31.62, a PEG ratio of 2.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The company had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple’s payout ratio is presently 16.20%.

Apple announced that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.