Apple Inc. $AAPL Shares Bought by Pinion Investment Advisors LLC

Key Points

• Pinion Investment Advisors increased its Apple stake by 10.7% in the fourth quarter, buying 1,664 more shares and bringing its total to 17,211 shares valued at about $4.68 million.
• Apple reported strong quarterly results, with EPS of $2.01 topping estimates and revenue of $111.18 billion beating expectations, while year-over-year revenue grew 16.6%.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, and analysts currently rate the stock a consensus Moderate Buy with a price target of $308.74.

Pinion Investment Advisors LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,211 shares of the iPhone maker's stock after purchasing an additional 1,664 shares during the period. Apple comprises 1.1% of Pinion Investment Advisors LLC's holdings, making the stock its 25th biggest holding. Pinion Investment Advisors LLC's holdings in Apple were worth $4,679,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. First National Bank of Hutchinson increased its position in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC increased its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE increased its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after acquiring an additional 1,155 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Stock Performance

AAPL stock opened at $308.82 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market cap of $4.54 trillion, a P/E ratio of 37.34, a P/E/G ratio of 2.69 and a beta of 1.06. The firm has a 50 day simple moving average of $269.64 and a 200 day simple moving average of $268.62. Apple Inc. has a 52 week low of $193.46 and a 52 week high of $311.40.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.65 earnings per share. Research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is 13.06%.

Analyst Ratings Changes

Several research firms have recently weighed in on AAPL. KeyCorp reissued a "sector weight" rating on shares of Apple in a research report on Thursday, March 12th. DA Davidson reissued a "neutral" rating and issued a $270.00 target price on shares of Apple in a research report on Friday, May 1st. Stifel Nicolaus set a $330.00 target price on shares of Apple in a research report on Monday, March 2nd. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, May 1st. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $308.74.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is owned by company insiders.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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