Apple Inc. (NASDAQ:AAPL) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 105,664 shares of the iPhone maker’s stock after selling 1,922 shares during the period. Apple makes up about 9.2% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its biggest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Apple were worth $26,461,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bull Oak Capital LLC raised its stake in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new position in Apple in the third quarter valued at about $71,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple in the third quarter valued at about $77,000. Finally, ARK Investment Management LLC acquired a new position in shares of Apple during the third quarter worth about $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent analyst reports. Monness Crespi & Hardt raised their price target on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised their target price on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Sanford C. Bernstein lifted their target price on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. DA Davidson set a $290.00 price target on Apple in a report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $262.00 price objective on shares of Apple in a report on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Price Performance

AAPL stock opened at $214.10 on Friday. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The firm has a 50-day moving average of $232.19 and a two-hundred day moving average of $233.33. The firm has a market capitalization of $3.22 trillion, a PE ratio of 33.98, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

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.