Apple Inc. (NASDAQ:AAPL) Shares Acquired by Defined Financial Planning LLC

Defined Financial Planning LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 18.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,150 shares of the iPhone maker’s stock after acquiring an additional 2,063 shares during the period. Apple comprises approximately 3.0% of Defined Financial Planning LLC’s portfolio, making the stock its 10th largest position. Defined Financial Planning LLC’s holdings in Apple were worth $2,935,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Apple during the 4th quarter worth $46,868,648,000. GAMMA Investing LLC lifted its position in shares of Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 completion of the sale, the insider owned 15,533 shares in the company, valued at $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. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James Financial decreased their price objective on shares of Apple from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Monness Crespi & Hardt lifted their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. KeyCorp raised shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. UBS Group set a $210.00 price target on shares of Apple and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.27.

Apple Trading Down 1.2%

NASDAQ AAPL opened at $208.62 on Tuesday. The stock has a market capitalization of $3.12 trillion, a P/E ratio of 32.50, a P/E/G ratio of 2.36 and a beta of 1.20. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The firm has a 50-day moving average price of $203.58 and a 200 day moving average price of $216.50. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were issued a $0.26 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. Apple’s dividend payout ratio (DPR) is 16.20%.

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.