XY Planning Network Inc. Buys 11,757 Shares of Apple Inc. $AAPL

XY Planning Network Inc. raised its stake in Apple Inc. (NASDAQ:AAPL) by 221.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,055 shares of the iPhone maker’s stock after buying an additional 11,757 shares during the period. Apple comprises about 1.2% of XY Planning Network Inc.’s investment portfolio, making the stock its 22nd biggest position. XY Planning Network Inc.’s holdings in Apple were worth $3,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Kingstone Capital Partners Texas LLC lifted its stake in shares of Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Nuveen LLC purchased a new position in Apple in the 1st quarter worth approximately $17,472,482,000. GAMMA Investing LLC lifted its position in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after purchasing an additional 59,835,676 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Finally, Amundi grew its holdings in shares of Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after purchasing an additional 14,651,321 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AAPL shares. Morgan Stanley set a $298.00 price target on shares of Apple and gave the company an “overweight” rating in a research report on Thursday, October 2nd. UBS Group reiterated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Evercore ISI set a $290.00 price objective on Apple and gave the stock an “outperform” rating in a report on Friday, September 26th. Melius Research set a $290.00 price objective on Apple and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Rosenblatt Securities upped their target price on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

Insider Activity

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

Apple Trading Up 1.0%

NASDAQ:AAPL opened at $247.66 on Tuesday. The firm has a market capitalization of $3.68 trillion, a P/E ratio of 37.58, a PEG ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company’s 50-day simple moving average is $238.50 and its 200 day simple moving average is $216.04.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $88.64 billion. During the same period last year, the business earned $1.40 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid 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 of this dividend was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

Apple 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.