Apple Inc. (NASDAQ:AAPL) is Defined Financial Planning LLC’s 10th Largest Position

Defined Financial Planning LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 18.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,150 shares of the iPhone maker’s stock after acquiring an additional 2,063 shares during the quarter. Apple comprises approximately 3.0% of Defined Financial Planning LLC’s holdings, making the stock its 10th biggest holding. Defined Financial Planning LLC’s holdings in Apple were worth $2,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Drystone LLC acquired a new position in Apple in the 4th quarter worth $25,000. Conquis Financial LLC acquired a new position in Apple in the 4th quarter worth $63,000. LSV Asset Management acquired a new position in Apple in the 4th quarter worth $65,000. Pillar Financial Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Apple in the 4th quarter worth about $96,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 1.2%

Shares of NASDAQ:AAPL opened at $208.62 on Tuesday. The company has a 50 day moving average of $203.58 and a 200-day moving average of $216.50. The firm has a market cap of $3.12 trillion, a P/E ratio of 32.50, a P/E/G ratio of 2.36 and a beta of 1.20. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.53 earnings per share. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has approved a share repurchase program on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AAPL. Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. China Renaissance began coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price for the company. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. DA Davidson boosted their target price on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Loop Capital dropped their target price on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.27.

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.