Total Wealth Planning LLC Sells 291 Shares of Apple Inc. (NASDAQ:AAPL)

Total Wealth Planning LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,217 shares of the iPhone maker’s stock after selling 291 shares during the period. Total Wealth Planning LLC’s holdings in Apple were worth $1,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wyrmwood Management LLC increased its position in shares of Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. PayPay Securities Corp increased its position in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after acquiring an additional 210 shares in the last quarter. Friedenthal Financial purchased a new stake in Apple in the fourth quarter worth approximately $111,000. Finally, Cordant Inc. boosted its holdings in Apple by 27.7% in the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Rosenblatt Securities restated a “neutral” rating and issued a $196.00 target price (up previously from $189.00) on shares of Apple in a report on Friday, May 3rd. Piper Sandler dropped their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Loop Capital dropped their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Canaccord Genuity Group lifted their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. Finally, Citigroup dropped their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.59.

Read Our Latest Analysis on AAPL

Apple Stock Performance

Apple stock opened at $191.29 on Friday. The company’s 50-day moving average price is $177.13 and its 200-day moving average price is $183.23. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company has a market cap of $2.93 trillion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the previous year, the firm posted $1.52 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 6.57 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. Apple’s payout ratio is currently 15.55%.

Apple announced that its board has initiated a stock repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the transaction, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,270 shares of company stock valued at $46,511,696. Company insiders own 0.06% of the company’s stock.

About Apple

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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