Apple Inc. $AAPL is Pitcairn Co.’s 10th Largest Position

Pitcairn Co. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 145,432 shares of the iPhone maker’s stock after selling 14,195 shares during the period. Apple makes up approximately 2.0% of Pitcairn Co.’s holdings, making the stock its 10th largest holding. Pitcairn Co.’s holdings in Apple were worth $29,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AAPL. Financial Futures Ltd Liability Co. boosted its holdings in shares of Apple by 13.2% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock valued at $729,000 after acquiring an additional 415 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its holdings in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares during the last quarter. American National Bank & Trust lifted its position in Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares during the period. Riverwater Partners LLC lifted its position in Apple by 17.9% during the second quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock valued at $1,109,000 after purchasing an additional 819 shares during the period. Finally, Andina Capital Management LLC boosted its holdings in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.1%

Shares of AAPL stock opened at $278.28 on Monday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $288.62. The company has a market cap of $4.11 trillion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.60 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $268.24 and a 200-day simple moving average of $237.28.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. On average, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is currently 13.92%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Loop Capital reaffirmed a “buy” rating and set a $325.00 target price (up from $315.00) on shares of Apple in a report on Tuesday, December 2nd. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a report on Monday, September 8th. CLSA upped their price objective on Apple from $265.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Apple in a report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $282.51.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 228,052 shares of company stock worth $58,604,588. Company 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.