Apple Inc. (NASDAQ:AAPL) Holdings Lowered by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,125 shares of the iPhone maker’s stock after selling 275 shares during the quarter. Apple comprises 2.2% of Pinnacle Wealth Management Group Inc.’s holdings, making the stock its 17th biggest position. Pinnacle Wealth Management Group Inc.’s holdings in Apple were worth $3,537,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BCS Wealth Management grew its stake in shares of Apple by 49.2% in the 4th quarter. BCS Wealth Management now owns 34,108 shares of the iPhone maker’s stock worth $8,541,000 after purchasing an additional 11,255 shares during the last quarter. Granite Bay Wealth Management LLC grew its stake in shares of Apple by 0.9% in the 4th quarter. Granite Bay Wealth Management LLC now owns 36,603 shares of the iPhone maker’s stock worth $9,166,000 after purchasing an additional 310 shares during the last quarter. Tsfg LLC grew its stake in shares of Apple by 2.0% in the 4th quarter. Tsfg LLC now owns 54,933 shares of the iPhone maker’s stock worth $13,756,000 after purchasing an additional 1,051 shares during the last quarter. PFW Advisors LLC acquired a new position in shares of Apple in the 4th quarter worth approximately $6,247,000. Finally, Marion Wealth Management grew its stake in shares of Apple by 1.1% in the 4th quarter. Marion Wealth Management now owns 36,402 shares of the iPhone maker’s stock worth $9,116,000 after purchasing an additional 400 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAPL. DA Davidson set a $290.00 price objective on shares of Apple in a research note on Friday, January 31st. Redburn Partners set a $230.00 price objective on shares of Apple in a research note on Friday, January 31st. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, January 21st. Wedbush reissued an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Thursday, January 23rd. Finally, Monness Crespi & Hardt lifted their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.85.

Apple Price Performance

NASDAQ AAPL opened at $245.55 on Monday. The company has a 50 day moving average price of $240.47 and a two-hundred day moving average price of $232.88. 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. The stock has a market capitalization of $3.69 trillion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.