White Pine Investment CO Sells 176 Shares of Apple Inc. (NASDAQ:AAPL)

White Pine Investment CO decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 42,553 shares of the iPhone maker’s stock after selling 176 shares during the period. Apple makes up about 2.7% of White Pine Investment CO’s investment portfolio, making the stock its 9th biggest holding. White Pine Investment CO’s holdings in Apple were worth $9,915,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AAPL. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Apple by 6.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 9,026 shares of the iPhone maker’s stock worth $2,103,000 after acquiring an additional 509 shares during the period. Prossimo Advisors LLC acquired a new position in Apple in the third quarter worth $7,418,000. Conservest Capital Advisors Inc. grew its holdings in shares of Apple by 3.4% during the third quarter. Conservest Capital Advisors Inc. now owns 18,054 shares of the iPhone maker’s stock worth $4,207,000 after purchasing an additional 588 shares during the last quarter. Arcadia Investment Management Corp MI increased its stake in shares of Apple by 1.1% in the third quarter. Arcadia Investment Management Corp MI now owns 119,862 shares of the iPhone maker’s stock valued at $27,928,000 after buying an additional 1,350 shares in the last quarter. Finally, New Covenant Trust Company N.A. lifted its position in Apple by 12.8% during the 3rd quarter. New Covenant Trust Company N.A. now owns 18,667 shares of the iPhone maker’s stock worth $4,252,000 after buying an additional 2,119 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.2 %

Shares of Apple stock opened at $243.36 on Monday. The firm has a market cap of $3.68 trillion, a PE ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 1.20. The business’s 50 day simple moving average is $238.91 and its 200 day simple moving average is $229.08. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio is 16.45%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Loop Capital lowered their price objective on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research report on Friday, October 25th. Wedbush boosted their target price on Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $238.03.

About Apple

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.