Pinnacle Wealth Management Group Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 53.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,827 shares of the iPhone maker’s stock after selling 19,702 shares during the quarter. Apple comprises approximately 1.9% of Pinnacle Wealth Management Group Inc.’s portfolio, making the stock its 12th biggest position. Pinnacle Wealth Management Group Inc.’s holdings in Apple were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Robinson Value Management Ltd. bought a new position in shares of Apple during the third quarter valued at $28,000. Hanseatic Management Services Inc. increased its holdings in shares of Apple by 75.4% during the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after acquiring an additional 107 shares in the last quarter. Bluestem Financial Advisors LLC increased its holdings in shares of Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 229,929 shares in the last quarter. HBC Financial Services PLLC boosted its position in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Apple during the second quarter valued at $55,000. 57.60% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on AAPL shares. Cowen dropped their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. BNP Paribas cut Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a research report on Tuesday, January 3rd. Canaccord Genuity Group dropped their price objective on Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, January 18th. Fundamental Research reaffirmed a “buy” rating and set a $168.00 price objective on shares of Apple in a research report on Tuesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft set a $160.00 price objective on Apple in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $168.24.
Apple Stock Down 0.5 %
Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.05). The business had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $2.10 EPS. Research analysts expect that Apple Inc. will post 6.04 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Friday, February 10th. This is an increase from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio (DPR) is 15.62%.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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