XY Planning Network Inc. Makes New $1.10 Million Investment in Apple Inc. (NASDAQ:AAPL)

XY Planning Network Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,376 shares of the iPhone maker’s stock, valued at approximately $1,096,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Advanced Portfolio Management LLC lifted its holdings in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after buying an additional 47 shares in the last quarter. Hanseatic Management Services Inc. increased its position in shares of Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock worth $945,000 after purchasing an additional 48 shares during the last quarter. Family Capital Management Inc. increased its position in shares of Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after purchasing an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after purchasing an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC increased its position in shares of Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after purchasing an additional 51 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now directly owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AAPL shares. 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 research report on Friday, May 2nd. Scotiabank downgraded shares of Apple to a “market perform” rating in a research report on Friday, May 2nd. Barclays dropped their target price on shares of Apple from $197.00 to $173.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Monness Crespi & Hardt boosted their price objective on shares of Apple to $245.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Finally, China Renaissance started coverage on shares of Apple in a research report on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective for the company. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.86.

Apple Trading Up 2.2%

Shares of NASDAQ:AAPL opened at $201.00 on Friday. The company has a 50 day moving average of $202.35 and a 200-day moving average of $221.71. The firm has a market cap of $3.00 trillion, a P/E ratio of 31.31, a P/E/G ratio of 2.19 and a beta of 1.22. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.03. The company 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 167.24%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 EPS. As a group, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has approved 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 purchase up to 3.1% of its shares through open market purchases. Shares 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. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio is currently 16.20%.

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.