Falcon Wealth Planning Buys 1,190 Shares of Apple Inc. (NASDAQ:AAPL)

Falcon Wealth Planning boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,437 shares of the iPhone maker’s stock after acquiring an additional 1,190 shares during the period. Apple comprises about 7.4% of Falcon Wealth Planning’s investment portfolio, making the stock its 2nd biggest holding. Falcon Wealth Planning’s holdings in Apple were worth $62,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bull Oak Capital LLC boosted its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. lifted its position in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. Finally, EMC Capital Management lifted its position in Apple by 7.3% in the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after purchasing an additional 61 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $242.70 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The business has a fifty day simple moving average of $239.91 and a 200 day simple moving average of $229.75. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted 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 firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a report on Friday, December 13th. Wedbush upped their price target on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, December 26th. Citigroup upped their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Rosenblatt Securities upped their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.64.

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.