Apple Inc. $AAPL is WealthPlan Investment Management LLC’s Largest Position

WealthPlan Investment Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.0% in the second quarter, HoldingsChannel.com reports. The fund owned 391,440 shares of the iPhone maker’s stock after purchasing an additional 32,320 shares during the period. Apple accounts for 5.8% of WealthPlan Investment Management LLC’s holdings, making the stock its largest position. WealthPlan Investment Management LLC’s holdings in Apple were worth $80,312,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after purchasing an additional 5,005,297 shares during the period. Kingstone Capital Partners Texas LLC increased its position in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Apple by 1.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after purchasing an additional 984,157 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 0.2%

Apple stock opened at $272.95 on Friday. The firm has a market cap of $4.03 trillion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 2.62 and a beta of 1.09. The firm has a fifty day moving average price of $255.27 and a two-hundred day moving average price of $226.41. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. 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 (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter last year, the company earned $1.64 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, 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. Investors of record on Monday, November 10th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s payout ratio is 13.92%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of the firm’s 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 sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’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 directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 228,052 shares of company stock valued at $58,604,588 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Weiss Ratings upgraded Apple from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, November 7th. Barclays lifted their price objective on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. CLSA raised Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Raymond James Financial restated an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Finally, Citigroup reiterated a “buy” rating and set a $315.00 price objective (up previously from $245.00) on shares of Apple in a research report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $278.22.

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.