Apple Inc. $AAPL is Falcon Wealth Planning’s 3rd Largest Position

Falcon Wealth Planning cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 270,215 shares of the iPhone maker’s stock after selling 2,570 shares during the quarter. Apple accounts for 5.6% of Falcon Wealth Planning’s investment portfolio, making the stock its 3rd largest position. Falcon Wealth Planning’s holdings in Apple were worth $55,440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ryan Investment Management Inc. acquired a new stake in Apple in the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new stake in Apple in the 1st quarter valued at about $58,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple in the 1st quarter valued at about $99,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AAPL. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. JPMorgan Chase & Co. raised their price target on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Rosenblatt Securities raised their price target on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Wedbush set a $310.00 price target on shares of Apple and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, UBS Group restated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $248.29.

Apple Stock Performance

Shares of AAPL stock opened at $245.27 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a P/E/G ratio of 2.47 and a beta of 1.09. The firm has a 50 day moving average of $237.61 and a two-hundred day moving average of $215.92.

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

Apple Announces Dividend

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