Destiny Capital Corp CO Makes New $229,000 Investment in Apple Inc. (NASDAQ:AAPL)

Destiny Capital Corp CO bought a new stake in Apple Inc. (NASDAQ:AAPL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,029 shares of the iPhone maker’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Drystone LLC purchased a new position in Apple in the 4th quarter worth approximately $25,000. Life Planning Partners Inc purchased a new stake in shares of Apple during the 4th quarter worth $47,000. Conquis Financial LLC purchased a new stake in Apple in the fourth quarter valued at $63,000. LSV Asset Management purchased a new position in shares of Apple during the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Apple during the fourth quarter worth about $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was 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 of the company’s stock, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,486 shares of the company’s 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 transaction, the insider directly owned 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 disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several research reports. KeyCorp upgraded shares of Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Monness Crespi & Hardt raised their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. China Renaissance assumed coverage on shares of Apple in a research report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. TD Cowen dropped their price target on shares of Apple from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Barclays set a $173.00 price target on shares of Apple and gave the company an “underweight” rating in a report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.11.

Apple Stock Down 0.1%

AAPL stock opened at $210.02 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The company has a market cap of $3.14 trillion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 2.35 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 business has a 50-day simple moving average of $204.32 and a 200 day simple moving average of $216.12.

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 analysts’ consensus estimates of $1.62 by $0.03. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same period in the prior year, the business earned $1.53 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple declared that its Board of Directors has approved a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is presently 16.20%.

Apple Company 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.