Pine Haven Investment Counsel Inc Has $8.55 Million Stake in Apple Inc. (NASDAQ:AAPL)

Pine Haven Investment Counsel Inc trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,404 shares of the iPhone maker’s stock after selling 640 shares during the quarter. Apple makes up 8.0% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 2nd largest position. Pine Haven Investment Counsel Inc’s holdings in Apple were worth $8,549,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Wyrmwood Management LLC boosted its holdings 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 acquiring an additional 69 shares during the period. Atlantic Private Wealth LLC acquired a new stake in Apple during the 1st quarter worth approximately $30,000. Gilfoyle & Co LLC boosted its stake in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Cheyne Capital Management UK LLP grew its holdings in Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after buying an additional 550 shares in the last quarter. Finally, HBC Financial Services PLLC increased its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction 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 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 Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O’brien sold 54,732 shares of the company’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 sale, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,271 shares of company stock valued at $63,653,887. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Apple stock opened at $165.00 on Monday. The business has a 50 day moving average of $174.67 and a 200-day moving average of $182.17. The company has a market capitalization of $2.55 trillion, a P/E ratio of 25.70, a P/E/G ratio of 1.99 and a beta of 1.27. Apple Inc. has a 1 year low of $162.80 and a 1 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.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAPL. The Goldman Sachs Group boosted their target price 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. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their target price for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. Piper Sandler Companies cut Apple to a “neutral” rating and cut their price target for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Apple in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $203.34.

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.