Apple Inc. $AAPL is Pinnacle Wealth Management Advisory Group LLC’s 2nd Largest Position

Pinnacle Wealth Management Advisory Group LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,355 shares of the iPhone maker’s stock after selling 11,880 shares during the quarter. Apple makes up approximately 3.8% of Pinnacle Wealth Management Advisory Group LLC’s portfolio, making the stock its 2nd biggest position. Pinnacle Wealth Management Advisory Group LLC’s holdings in Apple were worth $55,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Isthmus Partners LLC lifted its holdings in Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after buying an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in Apple in the 4th quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth $65,000. Finally, Timmons Wealth Management LLC purchased a new stake in shares of Apple during the fourth quarter worth $69,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $308.63 on Friday. The company has a market cap of $4.53 trillion, a P/E ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. The firm has a fifty day moving average price of $295.25 and a 200 day moving average price of $273.85. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. Sell-side analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AAPL. Robert W. Baird set a $310.00 target price on Apple in a report on Friday, May 1st. Morgan Stanley restated an “overweight” rating on shares of Apple in a report on Friday, June 26th. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research report on Tuesday, June 9th. UBS Group reiterated a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Apple in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Insider Activity

In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,924 shares of company stock worth $825,546 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.