Pitcairn Co. Has $38.61 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Pitcairn Co. decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 154,178 shares of the iPhone maker's stock after selling 1,362 shares during the quarter. Apple makes up approximately 2.3% of Pitcairn Co.'s holdings, making the stock its 8th largest holding. Pitcairn Co.'s holdings in Apple were worth $38,609,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AAPL. Norges Bank bought a new stake in shares of Apple during the 4th quarter valued at $46,868,648,000. Vanguard Group Inc. raised its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after acquiring an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after acquiring an additional 20,966,232 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 6.5% during the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its position in shares of Apple by 25,285.2% during the 4th quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock valued at $2,411,260,000 after acquiring an additional 9,590,933 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of Apple stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company's stock, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 35,493 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the transaction, the chief operating officer now owns 390,059 shares of the company's stock, valued at approximately $87,377,116.59. This represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AAPL shares. JPMorgan Chase & Co. lowered their price objective on shares of Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Loop Capital lowered their price objective on shares of Apple from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. UBS Group restated a "buy" rating on shares of Apple in a research report on Sunday, June 1st. Barclays lowered their price objective on shares of Apple from $197.00 to $173.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, DA Davidson upped their price objective on shares of Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.86.

Apple Stock Performance

AAPL stock traded down $2.75 during mid-day trading on Friday, hitting $196.45. 51,345,532 shares of the company were exchanged, compared to its average volume of 54,804,401. The business has a 50 day simple moving average of $201.76 and a 200-day simple moving average of $223.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $2.93 trillion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same period last year, the firm earned $1.53 earnings per share. The business's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Apple's dividend payout ratio (DPR) is currently 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.