WealthPLAN Partners LLC Sells 2,442 Shares of Apple Inc. (NASDAQ:AAPL)

WealthPLAN Partners LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 316,562 shares of the iPhone maker’s stock after selling 2,442 shares during the quarter. Apple makes up 7.2% of WealthPLAN Partners LLC’s portfolio, making the stock its biggest holding. WealthPLAN Partners LLC’s holdings in Apple were worth $66,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AAPL. Dimensional Fund Advisors LP boosted its holdings in shares of Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after purchasing an additional 2,785,807 shares during the last quarter. Capital International Investors raised its holdings in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares during the period. American Century Companies Inc. lifted its position in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Jennison Associates LLC increased its position in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after acquiring an additional 485,873 shares during the last quarter. Finally, Swedbank AB grew its stake in Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 1.3 %

Shares of NASDAQ AAPL opened at $222.91 on Monday. The company’s 50 day moving average price is $227.18 and its 200-day moving average price is $212.64. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a market capitalization of $3.39 trillion, a P/E ratio of 36.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 145.09% and a net margin of 23.97%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. Equities analysts forecast that Apple Inc. will post 7.48 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 11th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,924 shares of company stock worth $94,142,399 in the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AAPL shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. Piper Sandler Companies restated a “neutral” rating and issued a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Finally, Rosenblatt Securities lifted their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $236.23.

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.