Pinnacle Bancorp Inc. Acquires 548 Shares of Apple Inc. $AAPL

Pinnacle Bancorp Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,953 shares of the iPhone maker’s stock after buying an additional 548 shares during the quarter. Apple comprises 2.1% of Pinnacle Bancorp Inc.’s portfolio, making the stock its 5th biggest holding. Pinnacle Bancorp Inc.’s holdings in Apple were worth $6,761,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Advanced Portfolio Management LLC boosted its holdings in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Salus Financial Advisors LLC lifted its stake in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares during the period. Sharpepoint LLC lifted its stake in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after buying an additional 51 shares during the period. Redwood Financial Network Corp lifted its stake in shares of Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after buying an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC lifted its stake in Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after purchasing an additional 53 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AAPL. Citigroup restated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Rosenblatt Securities raised their price objective on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Evercore ISI set a $290.00 price objective on shares of Apple and gave the stock an “outperform” rating in a report on Friday. Tigress Financial raised their price objective on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Finally, Loop Capital dropped their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $245.66.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction on Friday, August 8th. The shares were 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 approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $255.46 on Monday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.65 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a fifty day moving average of $228.87 and a 200-day moving average of $213.22.

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

Apple Dividend Announcement

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

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.