Apple Inc. (NASDAQ:AAPL) is White Pine Investment CO’s 10th Largest Position

White Pine Investment CO decreased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,388 shares of the iPhone maker’s stock after selling 569 shares during the quarter. Apple makes up about 3.0% of White Pine Investment CO’s holdings, making the stock its 10th biggest position. White Pine Investment CO’s holdings in Apple were worth $8,798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Joseph Group Capital Management acquired a new position in shares of Apple during the 4th quarter worth $1,631,000. Cardinal Capital Management Inc. grew its stake in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new position in Apple in the 4th quarter valued at $41,000. Emerson Wealth LLC grew its stake in Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp grew its stake in Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AAPL. Wells Fargo & Company decreased their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Oppenheimer restated an “outperform” rating and issued a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a research report on Monday, May 2nd. Finally, Wedbush raised their price target on shares of Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.18.

Apple Stock Performance

Shares of AAPL opened at $161.38 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The firm’s 50 day moving average price is $155.22 and its two-hundred day moving average price is $156.98. The firm has a market cap of $2.59 trillion, a P/E ratio of 26.63, a PEG ratio of 2.16 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 earnings per share. On average, analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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