Apple Inc. (NASDAQ:AAPL) is Pinnacle Bancorp Inc.’s 4th Largest Position

Pinnacle Bancorp Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,530 shares of the iPhone maker’s stock after purchasing an additional 333 shares during the quarter. Apple comprises 2.1% of Pinnacle Bancorp Inc.’s investment portfolio, making the stock its 4th largest holding. Pinnacle Bancorp Inc.’s holdings in Apple were worth $7,812,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Swedbank AB purchased a new stake in Apple in the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC raised its position in Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC raised its position in Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Apple in the 2nd quarter valued at $834,368,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last three months. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.1 %

Shares of AAPL stock opened at $234.93 on Friday. The firm has a market cap of $3.55 trillion, a P/E ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm’s 50-day simple moving average is $228.83 and its 200-day simple moving average is $219.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Citigroup upped their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Bank of America restated a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Apple Company 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.