Retirement Planning Group lowered its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 39,454 shares of the iPhone maker’s stock after selling 180 shares during the period. Apple accounts for approximately 0.8% of Retirement Planning Group’s holdings, making the stock its 19th biggest holding. Retirement Planning Group’s holdings in Apple were worth $6,889,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Joseph Group Capital Management bought a new stake in shares of Apple during the 4th quarter valued at about $1,631,000. Cardinal Capital Management Inc. grew its position in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at about $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple during the 4th quarter valued at about $57,000. Finally, Econ Financial Services Corp bought a new stake in shares of Apple during the 4th quarter valued at about $58,000. 57.98% of the stock is owned by institutional investors.
Shares of Apple stock opened at $147.04 on Friday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a market cap of $2.38 trillion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a fifty day moving average price of $143.79 and a two-hundred day moving average price of $159.92.
Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The company had revenue of $97.28 billion during the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 EPS. Analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.63%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is 14.94%.
Apple announced that its board has authorized a stock repurchase plan on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of research analysts have issued reports on the stock. Loop Capital reduced their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. StockNews.com assumed coverage on shares of Apple in a research note on Thursday, March 31st. They set a “hold” rating for the company. Evercore ISI reduced their target price on shares of Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Apple from $200.00 to $175.00 in a research note on Tuesday, June 14th. Finally, Piper Sandler reduced their price target on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $184.83.
In other Apple news, SVP Deirdre O’brien sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at approximately $22,475,583.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
About Apple (Get Rating)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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