Retirement Income Solutions Inc Buys 1,239 Shares of Apple Inc. (NASDAQ:AAPL)

Retirement Income Solutions Inc increased its stake in Apple Inc. (NASDAQ:AAPL) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,006 shares of the iPhone maker’s stock after purchasing an additional 1,239 shares during the quarter. Apple makes up approximately 1.0% of Retirement Income Solutions Inc’s portfolio, making the stock its 18th biggest holding. Retirement Income Solutions Inc’s holdings in Apple were worth $3,687,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Parker Financial LLC raised its stake in shares of Apple by 1.2% during the second quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after acquiring an additional 54 shares during the last quarter. MKT Advisors LLC raised its stake in Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares in the last quarter. Professional Financial Advisors LLC raised its stake in Apple by 0.5% in the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after buying an additional 62 shares in the last quarter. Aspire Capital Advisors LLC raised its stake in Apple by 0.5% in the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after buying an additional 64 shares in the last quarter. Finally, Legacy Financial Group LLC raised its stake in Apple by 0.6% in the second quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 64 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Raymond James raised their target price on shares of Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Bank of America reaffirmed a “neutral” rating and set a $173.00 target price on shares of Apple in a research note on Tuesday, October 24th. Canaccord Genuity Group raised their target price on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, The Goldman Sachs Group decreased their target price on shares of Apple from $222.00 to $216.00 and set a “buy” rating for the company in a research note on Wednesday, September 13th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $197.82.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 107,661 shares in the company, valued at approximately $19,237,944.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were 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 in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders have sold 439,585 shares of company stock worth $76,485,550 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 2.3 %

Shares of Apple stock opened at $186.40 on Friday. The company’s fifty day simple moving average is $176.47 and its 200-day simple moving average is $180.06. The stock has a market capitalization of $2.90 trillion, a PE ratio of 30.46, a P/E/G ratio of 2.52 and a beta of 1.30. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. The business had revenue of $89.50 billion for the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.55 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is presently 15.69%.

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.