Apple Inc. $AAPL Stock: Pinnacle Wealth Management Advisory Group LLC Boosts Holdings

Key Points

• Pinnacle Wealth Management increased its Apple stake by 1.9% in the second quarter, holding 221,397 shares valued at approximately $64.1 million. Apple represents about 3.8% of the firm’s portfolio, while institutional investors collectively own 67.73% of the stock.
• Apple insiders sold shares worth approximately $92.9 million over the past 90 days, including transactions by executives Deirdre O’Brien and Tim Cook that were made to cover tax obligations from equity awards.
• Apple recently exceeded quarterly earnings expectations, reporting $2.02 in earnings per share and $109.42 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $340.02, though the stock’s elevated valuation and concerns about premium iPhone demand remain risks.

Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,397 shares of the iPhone maker's stock after buying an additional 4,042 shares during the quarter. Apple comprises approximately 3.8% of Pinnacle Wealth Management Advisory Group LLC's investment portfolio, making the stock its 2nd biggest holding. Pinnacle Wealth Management Advisory Group LLC's holdings in Apple were worth $64,063,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc acquired a new position in shares of Apple in the second quarter valued at about $65,950,297,000. Bank of America Corp DE purchased a new position in shares of Apple in the second quarter worth about $36,986,090,000. Legal & General Group Plc purchased a new position in shares of Apple in the second quarter worth about $30,443,242,000. Amundi lifted its holdings in shares of Apple by 23.2% during the first quarter. Amundi now owns 73,082,616 shares of the iPhone maker's stock worth $18,547,637,000 after purchasing an additional 13,780,080 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Apple by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 58,554,032 shares of the iPhone maker's stock worth $14,858,200,000 after purchasing an additional 979,832 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 46,389 shares of Apple stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $333.42, for a total value of $15,467,020.38. Following the sale, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $45,615,190.20. This trade represents a 25.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Timothy Cook sold 191,753 shares of the business's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the completion of the sale, the insider directly owned 3,264,168 shares of the company's stock, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 279,383 shares of company stock worth $92,912,517 over the last 90 days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of AAPL stock opened at $336.64 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12-month low of $243.42 and a 12-month high of $345.34. The business's 50 day moving average is $322.61 and its two-hundred day moving average is $302.99. The company has a market capitalization of $4.91 trillion, a P/E ratio of 38.61, a P/E/G ratio of 2.68 and a beta of 1.07.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%. The business's revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. Analysts expect that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple's dividend payout ratio (DPR) is 12.39%.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Potential AI upside: Analyst Dan Ives said Apple could become a “toll collector” for consumer AI by monetizing its more than 2.5 billion active devices and Services ecosystem. He estimates AI could add approximately $75 per share to the company’s value. Apple Could Be the Toll Collector of Consumer AI
• Positive Sentiment: Smart-home expansion: Apple’s planned October 13 “Welcome Home” event could introduce products such as a smart lock, thermostat and doorbell. The initiative may expand Apple’s hardware and Services opportunities and strengthen its position against Amazon and Google. Apple Smart Home Push
• Neutral Sentiment: Possible seasonal order adjustment: Bespoke Investment Group noted that Apple’s autumn iPhone order reductions have occurred in prior years and have sometimes been followed by a stock recovery. Investors will look for evidence that the latest cuts reflect normal supply-chain management rather than lasting demand weakness. Apple’s iPhone Order Cut and Stock Rebound
• Negative Sentiment: iPhone demand concerns: Nikkei Asia reported that Apple asked suppliers to cut iPhone 18 Pro component production, raising concerns that premium pricing is discouraging consumers. The reports are particularly important because Apple is preparing to pursue an even higher-priced product strategy, including a rumored $1,999 foldable iPhone. Apple Cuts iPhone 18 Pro Orders Due to Soft Demand
• Negative Sentiment: Valuation and execution risks: Apple’s elevated earnings multiple leaves less room for disappointment, while higher memory costs could pressure margins. A recent senior vice president stock sale was relatively small but adds to near-term caution. Apple Senior Vice President Stock Sale

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Oppenheimer reiterated a "market perform" rating on shares of Apple in a research report on Thursday, September 10th. BTIG Research initiated coverage on shares of Apple in a research report on Monday, August 17th. They set a "neutral" rating for the company. Robert W. Baird raised their price target on shares of Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Raymond James Financial restated a "market perform" rating on shares of Apple in a research note on Friday, July 31st. Finally, HSBC restated a "buy" rating and set a $366.00 price objective on shares of Apple in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $340.02.

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple's services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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