Retirement Planning Group reduced its stake in Apple Inc. (NASDAQ: AAPL – Get a rating) by 0.5% in Q1, according to its most recent SEC filing. The fund held 39,454 shares of the iPhone maker after selling 180 shares during the period. Apple accounts for about 0.8% of Retirement Planning Group’s holdings, making it its 19th largest holding. Retirement Planning Group’s holdings in Apple were worth $6,889,000 at the end of the last reporting period.
Other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. Joseph Group Capital Management purchased a new equity stake in Apple during Q4, valued at approximately $1,631,000. Cardinal Capital Management Inc. increased its position in Apple shares by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker valued at $39,000 after buying 221 additional shares in the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple during the 4th quarter, valued at around $41,000. St. James Investment Advisors LLC bought a new stake in Apple stock during Q4, valued at around $57,000. Finally, Econ Financial Services Corp bought a new equity stake in Apple during Q4, valued at around $58,000. 57.98% of the shares are held by institutional investors.
Shares of Apple broth opened at $147.04 on Friday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a market capitalization of $2.38 trillion, a PE ratio of 23.87, a price-to-earnings growth ratio of 1.92 and a beta of 1.19. The company has a debt ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The company has a fifty-day moving average price of $143.79 and a two-hundred-day moving average price of $159.92.
Apple (NASDAQ: AAPL – Get a rating) last reported quarterly earnings data on Thursday, April 28. The iPhone maker reported earnings per share (EPS) of $1.52 for the quarter, beating consensus analyst estimates of $1.43 by $0.09. The company posted revenue of $97.28 billion in the quarter, compared to $93.99 billion expected by analysts. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company’s revenue increased 8.6% year over year. In the same quarter a year earlier, the company posted EPS of $1.40. Analysts expect Apple Inc. to post earnings per share of 6.1 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 12. Investors of record on Monday, May 9 received a dividend of $0.23 per share. The ex-dividend date was Friday, May 6. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 0.63%. This is a boost from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is 14.94%.
Apple announced that its board authorized a stock repurchase plan on Thursday, April 28 that allows the company to repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.
A number of research analysts have published reports on the stock. Loop Capital cut its price target on Apple shares from $210.00 to $180.00 and set a “buy” rating for the company in a Wednesday, May 25 research note. StockNews.com supposed coverage of Apple shares in a Thursday, March 31, research note. They set a “holding” rating for the company. Evercore ISI cut its price target on Apple shares from $210.00 to $180.00 and set an “outperform” rating for the company in a Tuesday, June 28 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Apple shares from $200.00 to $175.00 in a Tuesday, June 14 research note. Finally, Piper Sandler cut her price target on Apple shares from $200.00 to $195.00 in a Friday, April 29 research note. Nine analysts gave the stock a hold rating, twenty-four gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $184.83.
In other Apple news, SVP Deirdre O’brien sold 8,000 shares of the company in a trade dated Monday, April 18. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the completion of the sale, the Senior Vice President now owns 136,290 shares of the company, valued at approximately $22,475,583.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, please Katherine L. Adams sold 25,000 shares of the company in a trade dated Wednesday, May 4. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company, valued at approximately $73,151,454.48. Disclosure of this sale can be found here. Insiders of the company hold 0.06% of the shares of the company.
About Apple (Get a rating)
Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
Get news and reviews for Apple Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Apple and related companies with MarketBeat.com’s free daily email newsletter.