Comprehensive Financial Planning Inc. PA Sells 2,085 Shares of Apple Inc. $AAPL

Comprehensive Financial Planning Inc. PA lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,731 shares of the iPhone maker’s stock after selling 2,085 shares during the quarter. Apple makes up about 4.8% of Comprehensive Financial Planning Inc. PA’s holdings, making the stock its 3rd largest holding. Comprehensive Financial Planning Inc. PA’s holdings in Apple were worth $6,100,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AAPL. United Asset Strategies Inc. grew its holdings in shares of Apple by 23.8% during the second quarter. United Asset Strategies Inc. now owns 225,522 shares of the iPhone maker’s stock worth $46,270,000 after buying an additional 43,406 shares in the last quarter. denkapparat Operations GmbH lifted its stake in shares of Apple by 29.1% in the second quarter. denkapparat Operations GmbH now owns 7,544 shares of the iPhone maker’s stock worth $1,548,000 after buying an additional 1,700 shares in the last quarter. Bouchey Financial Group Ltd lifted its stake in shares of Apple by 2.0% in the second quarter. Bouchey Financial Group Ltd now owns 296,206 shares of the iPhone maker’s stock worth $60,773,000 after buying an additional 5,807 shares in the last quarter. Apex Wealth Management LLC boosted its position in Apple by 3.1% during the second quarter. Apex Wealth Management LLC now owns 12,511 shares of the iPhone maker’s stock worth $2,567,000 after acquiring an additional 382 shares during the last quarter. Finally, M&G PLC grew its stake in Apple by 264.8% during the 2nd quarter. M&G PLC now owns 941,667 shares of the iPhone maker’s stock valued at $193,042,000 after acquiring an additional 683,538 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of a number of research reports. UBS Group raised their target price on shares of Apple from $220.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Apple in a research report on Monday, October 27th. Loop Capital reissued a “buy” rating and set a $325.00 price objective (up previously from $315.00) on shares of Apple in a research note on Tuesday. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and raised their target price for the stock from $203.07 to $246.99 in a research note on Friday, October 31st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $280.09.

Apple Stock Performance

Shares of Apple stock opened at $278.78 on Friday. The firm has a market cap of $4.12 trillion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62. The business’s fifty day simple moving average is $266.03 and its 200-day simple moving average is $234.07.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same period in the previous year, the firm earned $1.64 EPS. Apple’s revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

Insider Activity

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total value of $1,017,654.96. Following the completion of the sale, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. The trade was a 19.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 228,052 shares of company stock worth $58,604,588 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.