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

Pineridge Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,823 shares of the iPhone maker's stock after selling 4,795 shares during the quarter. Apple accounts for 0.4% of Pineridge Advisors LLC's holdings, making the stock its 22nd biggest holding. Pineridge Advisors LLC's holdings in Apple were worth $999,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Yeomans Consulting Group Inc. bought a new stake in shares of Apple during the 4th quarter worth approximately $1,713,000. Raleigh Capital Management Inc. lifted its position in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker's stock worth $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in shares of Apple during the fourth quarter worth $38,406,000. Barden Capital Management Inc. boosted its stake in shares of Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker's stock valued at $6,283,000 after purchasing an additional 18,615 shares during the period. Finally, Sunpointe LLC bought a new position in shares of Apple in the fourth quarter worth about $4,782,000. Hedge funds and other institutional investors own 60.41% of the company's stock.

Insider Buying and Selling

In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company's stock, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at $3,469,275. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,884 shares of company stock valued at $38,092,387. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Oppenheimer boosted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, June 28th. Morgan Stanley reissued an "overweight" rating and issued a $273.00 price objective on shares of Apple in a research note on Tuesday, August 6th. Monness Crespi & Hardt lifted their target price on Apple from $205.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Canaccord Genuity Group raised their price target on Apple from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Saturday, May 4th. Finally, Maxim Group upped their price objective on shares of Apple from $195.00 to $203.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $233.63.

Apple Stock Performance

NASDAQ:AAPL traded down $0.11 during trading hours on Wednesday, reaching $226.40. The company had a trading volume of 34,729,895 shares, compared to its average volume of 62,565,688. The firm has a market cap of $3.47 trillion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The business's 50 day moving average price is $219.82 and its 200-day moving average price is $193.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm had revenue of $85.78 billion during the quarter, compared to analysts' expectations of $84.43 billion. During the same period in the previous year, the business posted $1.26 EPS. The business's revenue was up 4.9% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 6.61 EPS for the current year.

Apple declared that its Board of Directors has approved a share buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple's dividend payout ratio is presently 15.55%.

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.