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

Posted by Defense World Staff on Oct 17th, 2023

Cornell Pochily Investment Advisors Inc. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,048 shares of the iPhone maker’s stock after selling 1,203 shares during the period. Apple accounts for approximately 8.6% of Cornell Pochily Investment Advisors Inc.’s investment portfolio, making the stock its biggest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Apple were worth $20,958,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Atlantic Private Wealth LLC bought a new position in Apple in the 1st quarter valued at about $30,000. Cheyne Capital Management UK LLP lifted its position 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 acquiring an additional 550 shares in the last quarter. HBC Financial Services PLLC lifted its position in shares of 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 in the last quarter. Clear Perspectives Financial Planning LLC lifted its position in shares of Apple by 27.3% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after buying an additional 211 shares in the last quarter. Finally, NNS Holding bought a new position in shares of Apple during the 2nd quarter worth approximately $193,000. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the sale, the chief financial officer now directly owns 107,661 shares in the company, valued at $19,237,944.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the sale, the chief financial officer now directly owns 107,661 shares in the company, valued at $19,237,944.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 455,004 shares of company stock worth $79,238,767. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AAPL. Piper Sandler lifted their target price on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Evercore ISI reissued an “outperform” rating and set a $210.00 target price on shares of Apple in a research report on Thursday, September 28th. Piper Jaffray Companies lifted their price target on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Tigress Financial lifted their price target on shares of Apple from $210.00 to $225.00 in a report on Friday, June 23rd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $195.00 price target on shares of Apple in a report on Monday, October 9th. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.40.

Get Our Latest Stock Report on Apple

Apple Stock Down 0.1 %

AAPL opened at $178.72 on Tuesday. The stock has a market cap of $2.79 trillion, a PE ratio of 30.04, a P/E/G ratio of 2.40 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The business’s fifty day simple moving average is $178.04 and its 200 day simple moving average is $178.71.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.54%. Apple’s payout ratio is 16.13%.

Apple Company Profile

(Free Report)

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.