Apple Inc. $AAPL is WealthPlan Investment Management LLC’s Largest Position

WealthPlan Investment Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 359,120 shares of the iPhone maker’s stock after selling 2,805 shares during the period. Apple comprises approximately 7.9% of WealthPlan Investment Management LLC’s holdings, making the stock its largest position. WealthPlan Investment Management LLC’s holdings in Apple were worth $79,771,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Burkett Financial Services LLC grew its position in shares of Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after acquiring an additional 93 shares during the period. Avid Wealth Partners LLC lifted its stake in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after purchasing an additional 930 shares in the last quarter. OneAscent Wealth Management LLC raised its position in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after buying an additional 409 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its position in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares in the last quarter. Finally, TruWealth Advisors LLC raised its position in shares of Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after buying an additional 5,120 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. The Goldman Sachs Group restated a “buy” rating and set a $266.00 target price on shares of Apple in a research report on Tuesday, August 26th. Morgan Stanley set a $240.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, July 25th. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $217.00 price objective on shares of Apple in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.05.

Apple Trading Down 0.0%

Shares of Apple stock opened at $239.69 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a fifty day moving average price of $219.28 and a 200 day moving average price of $212.64. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market cap of $3.56 trillion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is presently 15.78%.

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.