Forbes Financial Planning Inc. Sells 827 Shares of Apple Inc. (NASDAQ:AAPL)

Forbes Financial Planning Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,833 shares of the iPhone maker’s stock after selling 827 shares during the quarter. Apple makes up approximately 3.6% of Forbes Financial Planning Inc.’s portfolio, making the stock its 13th largest holding. Forbes Financial Planning Inc.’s holdings in Apple were worth $4,598,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AAPL. SNS Financial Group LLC lifted its holdings in Apple by 2.7% during the second quarter. SNS Financial Group LLC now owns 153,925 shares of the iPhone maker’s stock valued at $32,420,000 after purchasing an additional 4,027 shares during the last quarter. David Kennon Inc lifted its stake in Apple by 1.9% in the 2nd quarter. David Kennon Inc now owns 9,036 shares of the iPhone maker’s stock worth $1,903,000 after purchasing an additional 170 shares in the last quarter. Pettinga Financial Advisors LLC boosted its stake in Apple by 1.0% during the second quarter. Pettinga Financial Advisors LLC now owns 47,622 shares of the iPhone maker’s stock valued at $10,030,000 after buying an additional 481 shares during the period. Destiny Wealth Partners LLC lifted its position in Apple by 6.6% during the second quarter. Destiny Wealth Partners LLC now owns 77,753 shares of the iPhone maker’s stock valued at $16,376,000 after purchasing an additional 4,801 shares during the last quarter. Finally, Community Financial Services Group LLC grew its position in Apple by 0.7% in the second quarter. Community Financial Services Group LLC now owns 121,182 shares of the iPhone maker’s stock worth $25,523,000 after acquiring an additional 803 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AAPL shares. StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. UBS Group raised their price objective on shares of Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, The Goldman Sachs Group boosted their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Apple Stock Up 0.1 %

AAPL stock opened at $227.79 on Monday. The business’s 50-day moving average price is $222.19 and its 200-day moving average price is $202.38. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.49 trillion, a P/E ratio of 35.43, a PEG ratio of 2.66 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

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.