Apple Inc. (NASDAQ:AAPL) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,820 shares of the iPhone maker's stock after selling 19,353 shares during the quarter. Apple makes up 0.4% of Pinnacle Wealth Planning Services Inc.'s portfolio, making the stock its 6th biggest position. Pinnacle Wealth Planning Services Inc.'s holdings in Apple were worth $19,488,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AAPL. Drystone LLC acquired a new stake in Apple during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in Apple during the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple during the third quarter valued at approximately $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in Apple during the third quarter valued at approximately $77,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the fourth quarter valued at approximately $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total value of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares of the company's stock, valued at $40,072,269.86. This trade represents a 17.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,507 shares of company stock worth $42,694,080 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI upped their price objective on Apple from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. Barclays cut their price objective on Apple from $197.00 to $173.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Citigroup restated a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Loop Capital lowered their target price on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, Wedbush reaffirmed an "outperform" rating and set a $270.00 target price on shares of Apple in a report on Friday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.80.

Apple Stock Performance

AAPL stock traded down $0.19 on Friday, reaching $211.26. The company's stock had a trading volume of 53,614,750 shares, compared to its average volume of 55,938,270. The company has a market capitalization of $3.16 trillion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a fifty day moving average of $206.28 and a two-hundred day moving average of $226.84.

Apple (NASDAQ:AAPL - Get Free Report) last released its 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 firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 earnings per share. As a group, analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. This is an increase from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is 16.20%.

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.