Pinnacle Bancorp Inc. Has $6.84 Million Stake in Apple Inc. (NASDAQ:AAPL)

Pinnacle Bancorp Inc. lifted its stake in Apple Inc. (NASDAQ:AAPL) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,516 shares of the iPhone maker’s stock after purchasing an additional 1,577 shares during the quarter. Apple comprises 2.2% of Pinnacle Bancorp Inc.’s portfolio, making the stock its 5th biggest holding. Pinnacle Bancorp Inc.’s holdings in Apple were worth $6,838,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Headinvest LLC lifted its stake in Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Apple by 16.1% in the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after buying an additional 10,425 shares during the period. DNB Asset Management AS lifted its stake in shares of Apple by 6.9% during the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the last quarter. Boltwood Capital Management boosted its holdings in Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock valued at $7,158,000 after acquiring an additional 1,021 shares during the period. Finally, Private Wealth Partners LLC grew its position in Apple by 3.8% in the 3rd quarter. Private Wealth Partners LLC now owns 673,349 shares of the iPhone maker’s stock valued at $115,284,000 after acquiring an additional 24,634 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was 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 directly owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold a total of 366,271 shares of company stock valued at $63,653,887 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Piper Sandler decreased their target price on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Wedbush restated an “outperform” rating and issued a $250.00 target price on shares of Apple in a research note on Friday. Bank of America raised their target price on shares of Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird boosted their price target on Apple from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their price objective on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.72.

Apple Trading Up 6.0 %

Apple stock opened at $183.38 on Friday. The stock has a 50-day moving average price of $172.15 and a 200 day moving average price of $181.57. The company has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the business posted $1.52 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.53 EPS for the current year.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 13th will be paid a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s dividend payout ratio is presently 14.95%.

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.