Apple Inc. $AAPL Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp cut its holdings in Apple Inc. (NASDAQ:AAPL) by 22.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 62,680 shares of the iPhone maker’s stock after selling 18,103 shares during the period. Apple comprises approximately 1.6% of Consolidated Planning Corp’s holdings, making the stock its 13th biggest position. Consolidated Planning Corp’s holdings in Apple were worth $12,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. First National Bank of Hutchinson boosted its stake in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its stake in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC lifted its stake in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its holdings in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $262.77 on Wednesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $265.29. The firm has a market capitalization of $3.90 trillion, a PE ratio of 39.87, a PEG ratio of 2.55 and a beta of 1.09. The business’s 50 day moving average is $242.49 and its 200-day moving average is $217.74. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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, topping 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 company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm earned $1.40 EPS. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side 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. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAPL. Tigress Financial boosted their price target on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Melius Research set a $290.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 25th. Sanford C. Bernstein started coverage on Apple in a research note on Monday, September 15th. They issued an “outperform” rating and a $290.00 price objective on the stock. Finally, CLSA raised Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.47.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 over the last quarter. 0.06% of the stock is owned by company insiders.

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.