Pinion Investment Advisors LLC Has $4.68 Million Stock Holdings in Apple Inc. $AAPL

Pinion Investment Advisors LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 10.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,211 shares of the iPhone maker’s stock after acquiring an additional 1,664 shares during the quarter. Apple makes up about 1.1% of Pinion Investment Advisors LLC’s investment portfolio, making the stock its 25th largest position. Pinion Investment Advisors LLC’s holdings in Apple were worth $4,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Peoples Bank OH lifted its stake in Apple by 3.6% in the fourth quarter. Peoples Bank OH now owns 18,959 shares of the iPhone maker’s stock valued at $5,154,000 after acquiring an additional 650 shares during the last quarter. Sava Infond d.o.o. lifted its stake in Apple by 4.3% in the fourth quarter. Sava Infond d.o.o. now owns 89,475 shares of the iPhone maker’s stock valued at $24,325,000 after acquiring an additional 3,695 shares during the last quarter. Approach Retirement Advisors LLC acquired a new stake in Apple in the fourth quarter valued at approximately $333,000. Solidarity Wealth LLC lifted its stake in Apple by 0.9% in the fourth quarter. Solidarity Wealth LLC now owns 199,720 shares of the iPhone maker’s stock valued at $54,296,000 after acquiring an additional 1,788 shares during the last quarter. Finally, Veracity Capital LLC lifted its stake in Apple by 3.4% in the fourth quarter. Veracity Capital LLC now owns 34,275 shares of the iPhone maker’s stock valued at $9,318,000 after acquiring an additional 1,139 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Stock Performance

Shares of Apple stock opened at $308.82 on Monday. The firm has a market capitalization of $4.54 trillion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The company’s fifty day moving average price is $269.64 and its two-hundred day moving average price is $268.62. Apple Inc. has a 52-week low of $193.46 and a 52-week high of $311.40.

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

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s payout ratio is presently 13.06%.

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 97,759 shares of company stock worth $24,964,305. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird set a $310.00 price objective on shares of Apple in a research note on Friday, May 1st. UBS Group set a $296.00 price objective on shares of Apple and gave the stock a “neutral” rating in a research note on Friday, May 1st. KeyCorp restated a “sector weight” rating on shares of Apple in a research note on Thursday, March 12th. Oppenheimer restated a “market perform” rating on shares of Apple in a research note on Friday, January 30th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a research note on Wednesday, March 4th. One research 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 stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $308.74.

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.