Pine Haven Investment Counsel Inc Sells 54 Shares of Apple Inc. $AAPL

Pine Haven Investment Counsel Inc decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,000 shares of the iPhone maker’s stock after selling 54 shares during the quarter. Apple makes up approximately 6.8% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 2nd largest holding. Pine Haven Investment Counsel Inc’s holdings in Apple were worth $8,617,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Ryan Investment Management Inc. bought a new stake in shares of Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. Elite Financial Inc. bought a new stake in shares of Apple during the 1st quarter valued at $58,000. Conquis Financial LLC bought a new stake in shares of Apple during the 4th quarter valued at $63,000. Finally, LSV Asset Management bought a new stake in shares of Apple during the 4th quarter valued at $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $256.69 on Tuesday. The stock has a 50-day moving average price of $233.94 and a two-hundred day moving average price of $214.96. The stock has a market cap of $3.81 trillion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. 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 Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is 15.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James Financial reiterated an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Sanford C. Bernstein assumed coverage on shares of Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 target price for the company. Evercore ISI set a $290.00 target price on shares of Apple and gave the company an “outperform” rating in a research report on Friday, September 26th. Finally, Bank of America upped their target price on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $247.49.

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.