Pin Oak Investment Advisors Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,609 shares of the iPhone maker’s stock after selling 676 shares during the quarter. Apple comprises about 2.3% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 5th biggest holding. Pin Oak Investment Advisors Inc.’s holdings in Apple were worth $2,189,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in shares of Apple during the fourth quarter worth $13,759,345,000. Wealth Quarterback LLC purchased a new stake in shares of Apple during the fourth quarter worth $3,783,310,000. Wellington Management Group LLP grew its holdings in shares of Apple by 18.2% during the first quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock worth $6,850,960,000 after buying an additional 4,148,565 shares in the last quarter. Swiss National Bank grew its holdings in shares of Apple by 21.0% during the first quarter. Swiss National Bank now owns 17,300,399 shares of the iPhone maker’s stock worth $4,399,318,000 after buying an additional 3,000,800 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Apple by 29.2% during the first quarter. Capital Research Global Investors now owns 8,842,313 shares of the iPhone maker’s stock worth $2,248,512,000 after buying an additional 1,997,259 shares in the last quarter. 62.04% of the stock is owned by institutional investors and hedge funds.

AAPL has been the subject of a number of analyst reports. DA Davidson dropped their price objective on shares of Apple from $370.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. Cascend Securities dropped their price objective on shares of Apple from $350.00 to $325.00 and set a “buy” rating for the company in a report on Friday, May 1st. HSBC raised shares of Apple from a “reduce” rating to a “hold” rating and dropped their price objective for the company from $385.00 to $295.00 in a report on Wednesday, June 10th. Loop Capital upped their price objective on shares of Apple from $280.00 to $330.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Finally, Wells Fargo & Co upped their price objective on shares of Apple from $315.00 to $385.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $326.64.

In related news, COO Jeffrey E. Williams sold 41,062 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $241.44, for a total value of $9,914,009.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,491 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the sale, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,752 shares of company stock worth $24,750,125. 0.05% of the stock is owned by corporate insiders.

Shares of NASDAQ:AAPL opened at $361.78 on Tuesday. The firm’s 50 day moving average price is $331.04 and its 200 day moving average price is $299.26. The stock has a market cap of $1,532.75 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18. Apple Inc. has a fifty-two week low of $192.58 and a fifty-two week high of $372.38. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.29. The firm had revenue of $58.31 billion for the quarter, compared to analysts’ expectations of $54.64 billion. Apple had a net margin of 21.35% and a return on equity of 64.49%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 12.32 EPS for the current year.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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