Total Wealth Planning LLC Buys 121 Shares of Apple Inc. (NASDAQ:AAPL)

Total Wealth Planning LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,338 shares of the iPhone maker’s stock after purchasing an additional 121 shares during the quarter. Total Wealth Planning LLC’s holdings in Apple were worth $915,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Yeomans Consulting Group Inc. purchased a new position in shares of Apple during the fourth quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. boosted its holdings in Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares in the last quarter. Headinvest LLC increased its position in Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares during the period. GLOBALT Investments LLC GA bought a new position in Apple in the 4th quarter worth $38,406,000. Finally, Barden Capital Management Inc. lifted its position in shares of Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.3 %

Shares of NASDAQ:AAPL opened at $230.54 on Monday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $233.08. The stock has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 35.85, a PEG ratio of 2.80 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The stock’s 50-day simple moving average is $203.00 and its two-hundred day simple moving average is $187.44.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts expect that Apple Inc. will post 6.59 EPS for the current year.

Apple declared that its board has authorized a share repurchase program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. Apple’s dividend payout ratio is 15.55%.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Apple news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Piper Sandler increased their target price on Apple from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Tigress Financial lifted their price target on Apple from $240.00 to $245.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 30th. Sanford C. Bernstein increased their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Finally, Canaccord Genuity Group raised their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $218.43.

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.