Apple Inc. (NASDAQ:AAPL) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,064 shares of the iPhone maker's stock after selling 2,008 shares during the period. Apple comprises approximately 5.3% of Pinnacle Wealth Management Advisory Group LLC's investment portfolio, making the stock its biggest holding. Pinnacle Wealth Management Advisory Group LLC's holdings in Apple were worth $56,611,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Drystone LLC bought a new stake in shares of Apple during the 4th quarter worth approximately $25,000. Bull Oak Capital LLC raised its holdings 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 valued at $36,000 after purchasing an additional 111 shares during the period. Life Planning Partners Inc bought a new stake in Apple in the fourth quarter valued at approximately $47,000. SPX Gestao de Recursos Ltda bought a new position in Apple during the third quarter worth $71,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Apple in the 3rd quarter valued at about $77,000. Institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. Maxim Group boosted their price objective on Apple to $215.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Barclays upped their price target on shares of Apple from $183.00 to $197.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Sanford C. Bernstein lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Citigroup decreased their target price on shares of Apple from $275.00 to $245.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, China Renaissance assumed coverage on shares of Apple in a research report on Tuesday. They issued a "buy" rating and a $241.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.17.

Apple Trading Up 2.4 %

Apple stock traded up $4.83 during trading hours on Wednesday, hitting $204.57. The stock had a trading volume of 52,841,089 shares, compared to its average volume of 56,789,207. The business's 50 day simple moving average is $217.94 and its 200-day simple moving average is $229.69. The stock has a market cap of $3.07 trillion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.44 and a beta of 1.26. Apple Inc. has a one year low of $164.92 and a one year 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.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, February 10th. Apple's payout ratio is presently 15.87%.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares of the company's stock, valued at $40,072,269.86. This represents a 17.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,451 shares of company stock worth $40,818,720. 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.