Apple Inc. (NASDAQ:AAPL) is Retirement Planning Co of New England Inc.’s Largest Position

Retirement Planning Co of New England Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,626 shares of the iPhone maker’s stock after selling 183 shares during the period. Apple comprises 4.0% of Retirement Planning Co of New England Inc.’s portfolio, making the stock its largest position. Retirement Planning Co of New England Inc.’s holdings in Apple were worth $7,293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Verus Financial Partners Inc. lifted its holdings in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory lifted its stake in shares of Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. lifted its stake in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC increased its holdings in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AAPL. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Moffett Nathanson assumed coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Loop Capital upped their price target on Apple to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group upped their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Cfra increased their target price on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.23.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 shares were 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 in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. 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 firm’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 sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 1.3 %

Shares of AAPL opened at $222.91 on Friday. 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 firm has a market cap of $3.39 trillion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company’s fifty day moving average is $227.18 and its two-hundred day moving average is $212.03. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.15. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.6 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is currently 15.22%.

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.