Pinnacle Wealth Management LLC Buys 2,320 Shares of Apple Inc. (NASDAQ:AAPL)

Pinnacle Wealth Management LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,801 shares of the iPhone maker’s stock after acquiring an additional 2,320 shares during the quarter. Apple comprises about 3.5% of Pinnacle Wealth Management LLC’s portfolio, making the stock its 12th largest position. Pinnacle Wealth Management LLC’s holdings in Apple were worth $3,042,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wyrmwood Management LLC grew its position in shares of Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC raised its holdings in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. PayPay Securities Corp lifted its stake in Apple by 70.2% in the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after acquiring an additional 210 shares during the period. Cordant Inc. increased its position in Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after purchasing an additional 140 shares during the period. Finally, Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter valued at about $132,000. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Apple in a research note on Tuesday, April 16th. Piper Sandler Companies lowered Apple to a “neutral” rating and lowered their target price for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. UBS Group reiterated a “hold” rating and issued a $190.00 price target on shares of Apple in a report on Monday, March 25th. Redburn Atlantic cut Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. Finally, Morgan Stanley dropped their price objective on Apple from $220.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Apple Price Performance

Shares of NASDAQ AAPL opened at $169.30 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $173.04 and its 200-day simple moving average is $181.79. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The stock has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.04 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.88 earnings per share. Analysts expect that Apple Inc. will post 6.54 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is presently 14.95%.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is owned by company insiders.

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.