Pioneer Trust Bank N A OR Has $26.10 Million Holdings in Apple Inc. $AAPL

Key Points

• Pioneer Trust Bank N A OR reduced its stake in Apple Inc. by 1.7% in the 1st quarter, holding 117,487 shares worth approximately $26.1 million.
• Apple's recent earnings report showed earnings per share of $1.57, surpassing expectations and driving a revenue of $94.04 billion during the quarter.
• The company announced a quarterly dividend of $0.26 per share, resulting in an annualized yield of 0.4% and a payout ratio of 15.78%.

Pioneer Trust Bank N A OR decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,487 shares of the iPhone maker's stock after selling 1,979 shares during the period. Apple makes up 6.9% of Pioneer Trust Bank N A OR's portfolio, making the stock its 3rd largest position. Pioneer Trust Bank N A OR's holdings in Apple were worth $26,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Burkett Financial Services LLC grew its holdings in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after buying an additional 93 shares during the period. Avid Wealth Partners LLC boosted its stake in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock worth $935,000 after purchasing an additional 930 shares during the period. OneAscent Wealth Management LLC boosted its stake in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after purchasing an additional 409 shares during the period. TruWealth Advisors LLC lifted its position in Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock worth $42,045,000 after buying an additional 5,120 shares in the last quarter. Finally, Allstate Corp lifted its position in Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock worth $113,062,000 after buying an additional 438,471 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AAPL shares. Wedbush reaffirmed an "outperform" rating and issued a $270.00 target price on shares of Apple in a report on Thursday, August 7th. Loop Capital dropped their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 target price on shares of Apple in a report on Tuesday, July 29th. Citigroup upped their target price on shares of Apple from $240.00 to $245.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Morgan Stanley upped their target price on shares of Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.37.

Apple Stock Performance

AAPL traded down $1.81 on Tuesday, reaching $230.33. The company had a trading volume of 5,953,060 shares, compared to its average volume of 56,533,359. The company's fifty day moving average is $216.40 and its 200 day moving average is $212.63. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The stock has a market cap of $3.42 trillion, a P/E ratio of 34.96, a P/E/G ratio of 2.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 EPS. As a group, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is currently 15.78%.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

About Apple

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.