Pinnacle Wealth Management Group Inc. Has $3.36 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Pinnacle Wealth Management Group Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,400 shares of the iPhone maker’s stock after purchasing an additional 70 shares during the period. Apple makes up about 2.1% of Pinnacle Wealth Management Group Inc.’s holdings, making the stock its 17th biggest position. Pinnacle Wealth Management Group Inc.’s holdings in Apple were worth $3,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Covea Finance grew its holdings in shares of Apple by 3.4% during the third quarter. Covea Finance now owns 472,482 shares of the iPhone maker’s stock valued at $110,088,000 after buying an additional 15,400 shares in the last quarter. Atwater Malick LLC grew its holdings in shares of Apple by 1.3% during the third quarter. Atwater Malick LLC now owns 111,726 shares of the iPhone maker’s stock valued at $26,032,000 after buying an additional 1,443 shares in the last quarter. Perfromance Wealth Partners LLC grew its holdings in shares of Apple by 0.9% during the third quarter. Perfromance Wealth Partners LLC now owns 4,160,187 shares of the iPhone maker’s stock valued at $969,324,000 after buying an additional 38,892 shares in the last quarter. Level Financial Advisors purchased a new position in shares of Apple during the third quarter valued at $2,158,000. Finally, Lloyd Advisory Services LLC. grew its holdings in shares of Apple by 7.9% during the third quarter. Lloyd Advisory Services LLC. now owns 8,908 shares of the iPhone maker’s stock valued at $2,075,000 after buying an additional 656 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Friday, November 1st. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Apple Trading Up 1.0 %

AAPL stock opened at $237.33 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.81. The firm has a market cap of $3.59 trillion, a P/E ratio of 39.03, a P/E/G ratio of 2.30 and a beta of 1.24. The business’s 50 day moving average is $229.02 and its 200-day moving average is $219.81. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio is currently 16.45%.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Apple 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.