Pinion Investment Advisors LLC Sells 1,301 Shares of Apple Inc. (NASDAQ:AAPL)

Pinion Investment Advisors LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,483 shares of the iPhone maker’s stock after selling 1,301 shares during the quarter. Apple accounts for 1.7% of Pinion Investment Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Pinion Investment Advisors LLC’s holdings in Apple were worth $2,788,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AAPL. Conservest Capital Advisors Inc. raised its position in shares of Apple by 0.3% during the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after buying an additional 55 shares during the last quarter. High Pines Wealth Management LLC raised its position in shares of Apple by 0.7% during the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after buying an additional 58 shares during the last quarter. Kraft Davis & Associates LLC raised its position in shares of Apple by 0.9% during the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after buying an additional 59 shares during the last quarter. Asset Planning Corporation raised its position in shares of Apple by 1.0% during the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after buying an additional 59 shares during the last quarter. Finally, Columbus Macro LLC raised its position in shares of Apple by 0.5% during the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after buying an additional 59 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 59,162 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Piper Sandler Companies lowered shares of Apple to a “neutral” rating and cut their price objective for the company from $220.00 to $205.00 in a research report on Thursday, January 4th. UBS Group reissued a “hold” rating and issued a $190.00 price target on shares of Apple in a research report on Monday, March 25th. Maxim Group started coverage on shares of Apple in a research report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target for the company. Finally, Loop Capital dropped their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $202.62.

Apple Price Performance

AAPL opened at $169.30 on Thursday. Apple Inc. has a one year low of $164.07 and a one year high of $199.62. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The company’s 50 day simple moving average is $172.38 and its 200-day simple moving average is $181.63. The stock has a market capitalization of $2.61 trillion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 2.09 and a beta of 1.27.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. Apple’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

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.