Pinnacle Wealth Management Advisory Group LLC Sells 11,880 Shares of Apple Inc. $AAPL

Pinnacle Wealth Management Advisory Group LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 5.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 217,355 shares of the iPhone maker’s stock after selling 11,880 shares during the period. Apple accounts for about 3.8% of Pinnacle Wealth Management Advisory Group LLC’s holdings, making the stock its 2nd biggest holding. Pinnacle Wealth Management Advisory Group LLC’s holdings in Apple were worth $55,163,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares during the period. State Street Corp increased its holdings in shares of Apple by 1.1% in the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock valued at $164,218,801,000 after acquiring an additional 6,555,392 shares during the period. Geode Capital Management LLC increased its holdings in shares of Apple by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after acquiring an additional 1,866,103 shares during the period. Morgan Stanley increased its holdings in shares of Apple by 0.6% in the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after acquiring an additional 1,379,651 shares during the period. Finally, Norges Bank purchased a new stake in Apple in the 4th quarter valued at $52,266,468,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Key Stories 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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. KeyCorp reiterated a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. TD Cowen increased their target price on shares of Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Monness Crespi & Hardt raised their price target on Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. UBS Group restated a “buy” rating on shares of Apple in a research report on Tuesday, June 9th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Apple Price Performance

Shares of Apple 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 company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a one year low of $201.50 and a one year high of $317.40. The firm has a fifty day moving average of $295.25 and a two-hundred day moving average of $273.85.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. On average, analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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

Insider Transactions at Apple

In other news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by insiders.

About Apple

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.