Apple Inc. (NASDAQ:AAPL) Shares Sold by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,422 shares of the iPhone maker’s stock after selling 469 shares during the period. Apple makes up approximately 6.2% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 2nd largest holding. Pin Oak Investment Advisors Inc.’s holdings in Apple were worth $6,855,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new position in Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc raised its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. ARK Investment Management LLC acquired a new stake in Apple in the 3rd quarter valued at about $110,000. Finally, Cordant Inc. boosted its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

AAPL stock opened at $232.47 on Thursday. The company has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 36.90, a P/E/G ratio of 2.36 and a beta of 1.20. The firm has a 50 day moving average of $241.54 and a two-hundred day moving average of $230.95. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. As a group, equities analysts anticipate that Apple Inc. will post 7.33 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush reissued an “outperform” rating and set a $325.00 target price on shares of Apple in a research note on Thursday, January 23rd. Morgan Stanley increased their price objective on Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. Moffett Nathanson reaffirmed a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.52.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 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.