RCS Financial Planning LLC Sells 163 Shares of Apple Inc. (NASDAQ:AAPL)

RCS Financial Planning LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,980 shares of the iPhone maker’s stock after selling 163 shares during the period. Apple accounts for about 1.8% of RCS Financial Planning LLC’s portfolio, making the stock its 13th largest position. RCS Financial Planning LLC’s holdings in Apple were worth $3,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Life Planning Partners Inc acquired a new stake in Apple during the 4th quarter valued at approximately $47,000. Conquis Financial LLC purchased a new stake in shares of Apple during the fourth quarter worth $63,000. LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter valued at about $65,000. Pillar Financial Advisors LLC acquired a new position in Apple in the fourth quarter valued at about $82,000. Finally, Compass Planning Associates Inc acquired a new position in Apple in the fourth quarter valued at about $96,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $229.65 on Wednesday. The firm has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The stock’s fifty day moving average is $207.88 and its 200-day moving average is $213.21.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter last year, the business posted $1.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. China Renaissance began coverage on Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, May 21st. Bank of America boosted their target price on shares of Apple from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Loop Capital dropped their price objective on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.60.

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.