9,412 Shares in Apple Inc. (NASDAQ:AAPL) Acquired by Retirement Planning Group LLC NY

Retirement Planning Group LLC NY acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,412 shares of the iPhone maker’s stock, valued at approximately $2,357,000. Apple makes up approximately 2.6% of Retirement Planning Group LLC NY’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Advanced Portfolio Management LLC increased its stake in shares of Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the last quarter. Hanseatic Management Services Inc. boosted its holdings in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after acquiring an additional 48 shares during the period. Family Capital Management Inc. boosted its stake in shares of Apple by 0.3% during the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after buying an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Apple by 0.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after buying an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC lifted its stake in Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AAPL. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Scotiabank downgraded shares of Apple to a “market perform” rating in a research note on Friday, May 2nd. Maxim Group lifted their price target on Apple to $215.00 and gave the company a “hold” rating in a report on Friday, February 21st. Finally, TD Cowen decreased their target price on Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.86.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 38,822 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now owns 179,158 shares of the company’s stock, valued at $40,072,269.86. The trade was a 17.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of the business’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 value of $933,940.34. Following the transaction, the insider now directly owns 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,507 shares of company stock worth $42,694,080 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $196.58 on Thursday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $2.94 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The business has a fifty day moving average of $202.17 and a 200-day moving average of $222.30.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the company earned $1.53 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is 16.20%.

Apple announced that its board has initiated a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.