Apple Inc. (NASDAQ:AAPL) Shares Sold by Pinnacle Family Advisors LLC

Pinnacle Family Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,891 shares of the iPhone maker’s stock after selling 185 shares during the period. Apple makes up approximately 3.2% of Pinnacle Family Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Pinnacle Family Advisors LLC’s holdings in Apple were worth $6,266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker’s stock valued at $21,335,435,000 after buying an additional 1,742,087 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Apple by 1.9% in the third quarter. Fisher Asset Management LLC now owns 58,615,053 shares of the iPhone maker’s stock valued at $13,657,308,000 after buying an additional 1,112,033 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” 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 price objective for the company. in a report on Tuesday, January 21st. Wells Fargo & Company increased their target price on Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.52.

Apple Stock Performance

Apple stock opened at $227.63 on Monday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $241.26 and its two-hundred day moving average price is $231.04. The stock has a market cap of $3.42 trillion, a PE ratio of 36.13, a P/E/G ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, February 10th. Apple’s payout ratio is presently 15.87%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. 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.