Intrepid Financial Planning Group LLC Trims Stake in Apple Inc. (NASDAQ:AAPL)

Intrepid Financial Planning Group LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,793 shares of the iPhone maker’s stock after selling 1,026 shares during the period. Apple accounts for approximately 4.3% of Intrepid Financial Planning Group LLC’s holdings, making the stock its 4th largest holding. Intrepid Financial Planning Group LLC’s holdings in Apple were worth $10,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. O Connor Financial Group LLC grew its holdings in shares of Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker’s stock worth $896,000 after buying an additional 41 shares in the last quarter. Menard Financial Group LLC grew its holdings in shares of Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker’s stock worth $2,848,000 after buying an additional 48 shares in the last quarter. Hanseatic Management Services Inc. grew its holdings in shares of Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after buying an additional 48 shares in the last quarter. Family Capital Management Inc. grew its holdings in shares of Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after buying an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after buying an additional 48 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Down 3.0%

NASDAQ AAPL opened at $195.27 on Monday. The company’s fifty day simple moving average is $205.04 and its 200-day simple moving average is $225.94. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $2.92 trillion, a P/E ratio of 31.00, a PEG ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is 16.20%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,507 shares of company stock worth $42,694,080. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AAPL shares. DA Davidson lifted their price target on shares of Apple from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Rosenblatt Securities downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 target price for the company. in a report on Friday, May 2nd. Tigress Financial boosted their target price on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, April 3rd. Scotiabank downgraded shares of Apple to a “market perform” rating in a report on Friday, May 2nd. Finally, Argus upgraded shares of Apple to a “strong-buy” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.80.

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.