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

White Pine Investment CO lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,729 shares of the iPhone maker’s stock after selling 332 shares during the quarter. Apple accounts for 2.6% of White Pine Investment CO’s investment portfolio, making the stock its 10th largest position. White Pine Investment CO’s holdings in Apple were worth $9,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in Apple during the 1st quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the fourth quarter worth $39,000. University of Texas Texas AM Investment Managment Co. grew its holdings in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the period. Clarity Asset Management Inc. bought a new stake in Apple during the fourth quarter valued at about $85,000. Finally, Clear Street Markets LLC grew its position in shares of Apple by 100.6% during the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 83,965 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $227.79 on Friday. The company has a 50-day moving average price of $222.12 and a two-hundred day moving average price of $201.57. The stock has a market cap of $3.49 trillion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Tigress Financial raised their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Thursday, September 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $261.00 price target on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.76.

Apple Company 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.