Cornell Pochily Investment Advisors Inc. Cuts Position in Apple Inc. (NASDAQ:AAPL)

Cornell Pochily Investment Advisors Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,957 shares of the iPhone maker’s stock after selling 2,736 shares during the period. Apple makes up 8.6% of Cornell Pochily Investment Advisors Inc.’s investment portfolio, making the stock its largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Apple were worth $20,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Atlantic Private Wealth LLC acquired a new position in shares of Apple during the first quarter worth approximately $30,000. Wyrmwood Management LLC raised its position in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares during the period. Summit Wealth Group LLC raised its position in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC raised its position in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Finally, PayPay Securities Corp raised its position in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AAPL. UBS Group reaffirmed a “hold” rating and set a $190.00 target price on shares of Apple in a research report on Monday, March 25th. Bank of America raised Apple from a “neutral” rating to a “buy” rating and upped their target price for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. The Goldman Sachs Group increased their price target on Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. lowered their price target on Apple from $225.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Apple in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.23.

Insider Activity

In related news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,915 shares of company stock worth $44,202,868. 0.06% of the stock is owned by company insiders.

Apple Stock Down 1.1 %

AAPL stock opened at $167.78 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $2.59 trillion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.03 and a beta of 1.27. Apple Inc. has a fifty-two week low of $159.78 and a fifty-two week high of $199.62. The stock has a fifty day moving average of $177.12 and a 200-day moving average of $182.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s dividend payout ratio (DPR) is currently 14.95%.

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.